Growing preference for artificial intelligence products in daily activities and disturbed sleeping cycles are the factors driving the global smart bedding market during the forecast period.
According to TechSci Research report, “Smart Bedding Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2017-2027F” The global smart bedding market is expected to project an impressive growth of over USD4190 million in the forecast period, 2023F–2027F, with a CAGR of 8.58% on account of rapidly surging demand from people who are suffering from sleep disorders.
The global smart bedding market is being supported by major factors such as increasing health issues and the growing inclination of consumers towards technology-based appliances with the trend of intelligent beds, multifunctional beds, etc. Additionally, features such as sleep tracking, automatic mattress firmness adjustment, climate control, smart fabric technology, adjustable bases, anti-snoring feature, IoT, and smart home connectivity with the support of high-speed internet availability along with the growing smartphone penetration are encouraging consumers across the world to use smartphones to monitor their sleep pattern. Such factors are anticipated to boost the demand for smart bedding in the forecast period.
Browse over 125 market data figures spread through 110 Pages and an in-depth TOC on “SMART BEDDING MARKET“
The Global Smart Bedding market is segmented into product type, application, distribution channel, region, and company. Based on product type, the global smart bedding market can be segregated into smart mattress, smart pillow, and others such as smart duvet, smart mattress pad, etc. Among these, the smart mattress segment has accounted for the largest market share in 2021, since such mattresses are usually designed to track a person’s sleep. These mattresses feature technology that monitors and transmits data about how much sleep a person is getting, as well as it also analyzes the breathing and heart rates to determine how much time a person has spent in REM (rapid eye movement sleep) and deep sleep. Moreover, a number of smart mattresses also offers the climate control features, such as onboard heating system for cold nights and the capacity to create cool air flows on demand, etc. Furthermore, the growing research and technological development are certain crucial factors influencing the growth of global smart bedding market in the forecast period.
In terms of application, the global smart bedding market is divided into residential, hospital and hospitality. Among which the residential sector accounts for the majority market share of around 80% in the global smart bedding market with the rising expenditure upon the comfort and relaxation by the consumers from elderly to the younger generation. These are certain factors which are fueling the smart bedding demand in the residential sector. However, the market share of hospitals is expected to grow in the forecast years with a greater focus on the safety and comfort of patients. As these smart bedding products contain sensors for body temperature, blood, heartbeat, oxygen, and pressure sensors.
Based on distribution channel, the global smart bedding market is segmented into specialty store, supermarket & hypermarket, online, and others (retail stores, non-retail stores). Out of these, specialty store has accounted for the majority shares in global smart bedding market followed by supermarket & hypermarket. Companies are trying to increase their focus to make their products reach across various channels other than specialty store such as supermarket & hypermarket, and various online channels in order to capture the wider market range. Moreover, the specialty store is one of the most considered distributional channels that supports the consumers with an advantage of scanning the product before buying, which helps them choose the right product.
Due to growing desires for a stress-free lifestyle and increased use of smart beddings during the forecast period, North America has accounted for the leading market in the global smart bedding market. Factors such as significant changes in the standard of life and increasing urbanization in the developed nations, such as United States are further expected to fuel the growth for global smart bedding market in the future years.
Key market players in the global smart bedding market include:
- Eight Sleep Inc.
- Tempur Sealy International Inc.
- Sleep Number Corporation
- Emma Sleep GmbH
- Variowell Development GmbH
- Naturaliterie
- iOBED Inc.
- Responsive Surface Technology LLC
- GioClavis Co. Ltd.
- 10minds Co., Ltd., etc.
Companies such as Tempur Sealy International Inc. Sleep Number Corporation, and Eight Sleep Inc. are some of the leading players operating in the global smart bedding market. Major smart bedding companies are expanding their manufacturing bases to meet the rising demand across developing countries. For instance, Eight Sleep raised USD86 million for the further research and development in the smart bedding market, as the value of its smart mattress and “sleep fitness” technology exceeds USD500 million. By the end of 2021, the company aims to offer its products from New York to various locations in Europe and particularly in the country like the United Kingdom as part of an international expansion.
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Customers are more interested in choosing smart mattresses to improve their sleep patterns as COVID-19 has increased their concerns about immunity and mental and emotional resilience. Additionally, as people spend more time at home alone, they value a high-quality mattress’ comfort more. The market is being further influenced by the fact that consumers are well aware of the combination of comfort and technology.
“Global smart bedding market is expected to grow at a robust pace during the forecast period as the demand for smart bedding has been increasing every day because of rising standard of living and growing concern for sleeping disorders. Moreover, with the focus upon the rising technological advancement and growing number of companies entering into the market there is expected to be an increase in sales of smart beddings across the world.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Smart Bedding Market By Product Type (Smart Mattress, Smart Pillow, Others includes Smart Duvet, Smart Mattress Pad, etc.), By Application (Residential, Hospital, Hospitality), By Distribution Channel (Specialty Store, Supermarket & Hypermarket, Online, Others (Retail Stores, Non-Retail Stores)), By Region”, has evaluated the future growth potential of global smart bedding market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global smart bedding market.
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