The smart bed global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Bed Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart bed market size has grown strongly in recent years. It will grow from $3.11 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to demand for personalized comfort, aging population and sleep disorders, growth in home healthcare and wellness, awareness of the importance of sleep, expansion of adjustable beds..
The smart bed market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to integration with sleep tracking apps and wearables, growth in telehealth and remote patient monitoring, personalized sleep solutions for chronic conditions, demand for ergonomic and pressure-relief beds, global expansion of smart home technology, remote and app-controlled bed adjustments. Major trends in the forecast period include ai-driven sleep optimization and coaching, smart beds with temperature and humidity control, voice and ai-powered sleep assistants, sleep disorders detection and therapy integration, bed designs for co-sleeping and couples, sleep surfaces with biometric monitoring..
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Rapid expansion in the hospitality industry is driving the growth of the smart bed market. The hospitality industry is a broad group of businesses such as restaurants, hotels, casinos, amusement parks, resorts, cruises, and others that are involved in providing services to customers. Companies in the hospitality industry are increasingly investing in innovative products to enhance the experience of customers by providing better sleep and maintaining a clean and hygienic environment. For instance, in June 2023, according to Passport Photo Online, a Poland-based online website, in 2022, there were 132,228 hotels and motels in the United States, an 8.3% increase from 2021. Therefore, rapid expansion in the hospitality industry is expected to boost the smart bed market during the forecast period .
Market Trends –
Technological innovations are the key trends gaining popularity in the smart bed market. The companies operating in the smart med sector are constantly developing new products with advanced technologies and features to increase the quality and sleep time of customers. For instance, in January 2022, The Sleep Company, an India-based company that specializes in sleep-related products launched the elev8 smart adjustable bed. The elevat8 smart adjustable bed offers a comprehensive comfort experience that combines smart technology to improve health and general well-being. It comes with special features such as TV mode, a dual-zone massager for deep relaxation, an anti-snore posture that allows air to flow more freely, zero gravity mode for balanced body comfort, and more that can all be accessed with a single button click .
The smart bed market covered in this report is segmented –
1) By Type: Manual, Semi-Automatic, Automatic
2) By Application: Healthcare, Hospitality, Residential, Other Applications
3) By Sales Channel: Supermarket/Hypermarket, Online Stores, Specialty Stores, Other Sales Channels
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Regional Insights –
North America was the largest region in the smart bed market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart bed market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the smart bed market include Besco Medical Ltd., BodiTrak Inc., Hi-Interiors SRL, Hill-Rom Holdings Inc., Invacare Corporation, Paramount Bed Co. Ltd., Responsive Surface Technology LLC, Sleep Number Corporation, Eight Sleep Inc., Stryker Corporation, Ultimate Smart Bed Inc., BAM Labs Inc., iNyx Inc., Joerns Healthcare LLC, Linet Spol s.r.o., Vista Medical Ltd., Balluga Ltd., Ascion LLC, Ergomotion Inc., Luna Innovations Inc., Retail Employees Superannuation Trust, Kingsdown Inc., Simmons Bedding Company LLC, Tempur Sealy International Inc., Leggett & Platt Inc., Hilding Anders International AB, A.H. Beard Pty Ltd., Silentnight Group, Arjo AB
Table of Contents
1. Executive Summary
2. Smart Bed Market Report Structure
3. Smart Bed Market Trends And Strategies
4. Smart Bed Market – Macro Economic Scenario
5. Smart Bed Market Size And Growth
…..
27. Smart Bed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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