Smart Sleep Tracking Products Market Segmentation by Product (Smart Pillows, Under Mattress Embedded Sensors, Smart Mattress, Strip Based Sleep Trackers, Bedside Sleep Trackers, Wearable Sleep Trackers); by Connectivity (Wi-Fi, and Bluetooth Connected); by Price Range (Economy, Medium, and Premium); by End-User (Homecare, Healthcare Facilities, and Rehabilitation & Long-Term Care Providers); and by Distribution Channel (Online, and Offline)-Global Demand Analysis & Opportunity Outlook 2019-2028

Global Smart Sleep Tracking Products Market Highlights Over 2019 - 2028

The global smart sleep tracking products market is estimated to garner a revenue of USD 11234.55 Million by the end of 2028 by growing at a CAGR of 17.50% over the forecast period, i.e., 2020 – 2028. Moreover, in the year 2019, the market generated a revenue of USD 2631.57 Million. The growth of the market can be attributed to the growing number of sleep-related disorders and the rising awareness amongst individuals for the need for proper sleep. For instance, it has been studied that around 40% of single parents sleep less than 7 hours per night when compared to about 30% of adults with no children and about 35% of adults in 2-parent homes. Additionally, about 30% of working adults stated that they slept less than 6 hours per night during 2017-18. This share was an increase from approximately 27% during 2008-09. Further, between 30% and 50% of geriatric adults are known to suffer from insomnia.

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The growth of the market can also be attributed to the rising aging population around the globe, surge in personal disposable income of individuals, growing research and development in the field of smart wearables, along with the surge in the number of users using the internet. According to the statistics by the International Telecommunication Union (ITU), the number of individuals using the internet increased from 1.0 Billion in the year 2005 to 4.9 Billion in the year 2021.

Individuals Using the Internet (in Billion), World, 2005-2021

Global Smart Sleep Tracking Products Market Regional Synopsis

Regionally, the global smart sleep tracking products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 4505.06 Million by the end of 2028, up from a revenue of USD 1008.01 Million in the year 2019. The growth of the market in the region can primarily be attributed to the growing prevalence of sleep-related disorders in the region, especially in the United States. According to the statistics by the American Sleep Association (ASA), 50-70 Million adults in the United States are known to have a sleep disorder. Moreover, the statistics also stated that the prevalence of obstructive sleep apnea among the adults in the U.S. was 25 Million.

On the other hand, the market in Europe is projected to garner the second-largest revenue of USD 3297.34 Million by the end of 2028, up from a revenue of USD 785.70 Million in the year 2019. The market in the region is further segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. The market in the United Kingdom is projected to garner the largest revenue of USD 675.95 Million by the end of 2028, up from a revenue of USD 136.45 Million in the year 2019.

Growth Drivers and Challenges Impacting the Growth of the Global Smart Sleep Tracking Products Market

Growth Drivers

• Growing Number of Sleep Related Disorders

• Rising Aging Population Across the World

• Significant Growth of Personal Disposable Income

• Rise in Research & Development Activities Related to Smart Wearables

Challenges

• Surge in concern for Counterfeit Products

• High Price of Smart Wearables

Global Smart Sleep Tracking Products Market Segmentation Synopsis

The global smart sleep tracking products market is segmented by product into smart pillows, under mattress embedded sensors, smart mattress, strip based sleep trackers, bedside sleep trackers, and wearable sleep trackers. Out of these, the wearable sleep trackers segment is projected to garner the largest revenue of USD 5175.76 Million by the end of 2028, up from a revenue of USD 1165.08 Million in the year 2019. By connectivity, the market is segmented into Wi-Fi connected and Bluetooth connected, out of which, the Wi-Fi connected segment is projected to grow with the highest CAGR of 18.16% during the forecast period. By price range, the market is segmented into economy, medium, and premium. Out of these, the medium segment is projected to garner the largest revenue of USD 5729.62 Million by the end of 2028, up from a revenue of USD 1253.62 Million in the year 2019. By end-user, the market is segmented into homecare, healthcare facilities, and rehabilitation & long-term care providers. Out of these, the homecare segment is projected to garner the largest revenue of USD 5729.62 Million by the end of 2028, up from a revenue of USD 1224.27 Million in the year 2019. By distribution channel, the market is segmented into online, and offline. Out of these, the online segment is anticipated to garner the highest market share by the end of 2028 and also grow with the highest CAGR of 18.48% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global smart sleep tracking products market that are included in our report are Withings SA, Apple Inc., Fitbit Inc., Koninklijke Philips N.V., Sleep Number Corporation, SAMSUNG, URGOTECH, Nokia Corporation, and others.

Latest Developments in the Global Smart Sleep Tracking Products Market:

• October 12^th, 2021: Withings SA announced that it has received clearance from the FDA for its most advanced hybrid smartwatch, ScanWatch. The smartwatch, which uses state-of-the-art technology, performs general wellness functions, such as monitoring sleep quality, physical activity, and checking heart rate, and also can detect atrial fibrillation through ECG and blood oxygen levels through SpO2.

• March 1^st, 2022: Sleep Number Corporation announced the launch of its new 360 smart bed at CES 2022. The new smart bed is designed to proactively monitor and improve an individuals sleep and health over time.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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