The Worldwide Smart Bed Market is Expected to Reach US$ 8,859.9 Million by 2027 – Astute Analytica

CHICAGO, UNITED STATES, October 12, 2022 /EINPresswire.com/ — The global smart bed market size was US$ 5,273.3 million in 2021. The global smart bed market is expected to grow to US$ 8,859.9 million by 2027 by registering a compound annual growth rate (CAGR) of 8.7% during the forecast period, i.e., 2022-2027.

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Smart Bed incorporates a variety of technology that allows users to track their sleep. The smart bed also performs various functions, such as automatic mattress firmness adjustment and climate control. Apart from that, it features adjustable bases, smart fabric technology, and smart home connectivity.
The demand for smart beds is expected to shoot up in the coming years, owing to the evolving trend of smart homes, rising interest in smart and advanced technology, and the growing need to focus on the healthcare needs of senior citizens. On 10th October 2022, a Victoria-based Sleeptite introduced its contribution to the aged care sector. The firm developed a ‘nearable’ sensor technology called REMi that can efficiently monitor the presence, position, and posture of the resident overnight.

Further, a rising inclination towards comfort, luxury, and personalized experience will boost the probability of market growth. The cases of sleep disorders among adults are growing, which is expected to be one of the vital reasons behind the surge in the demand for smart beds. According to thesleepdoctor.com, nearly 70 million people in the United States are suffering from sleep disorders as of September 2022, thereby presenting scope for the smart beds market. On the contrary, the high cost associated with smart beds may complicate the growth process.

Segmental Analysis
The semi-automatic smart bed segment maintained its lead
Based on product type, the semi-automatic smart beds market leads with a market value of US$ 1,929.6 million in 2021, owing to the increasing adoption of semi-automatic beds, majorly in healthcare spaces. Moreover, the fact that users do not need hi-tech knowledge to operate semi-automatic beds is driving the growth of the segment. Apart from being user-friendly, semi-automatic beds are affordable and allow multiple connectivity options, including internet, Bluetooth and NFC, etc., which is outlining the potential of the semi-automatic smart beds market.

The hospitality sector exhibits the highest CAGR in the smart beds market
Hotels are highly focused on infrastructure advancement, which will shape the scope of the smart bed market. Moreover, convenience and comfortable sleep can attract more guests. Apart from that, features like off-the-bed foot massagers and sleep-inducing relaxants for sleep experience will be the key factors increasing the adoption of smart beds in the hospitality sector. Moreover, the growing competition in the hospitality sector is forcing industry giants to adopt technologies to gain a competitive advantage.

Offline Distribution Channel leads with the highest share in 2021
The offline distribution channel is holding the largest share of the smart beds market and is gaining large profits from the residential sector. Smart beds are generally not considered courier friendly. As a result, buyers prefer making purchases from offline stores, which integrate safety and security related to product quality. Furthermore, retail channels are adapting to the new technological era by launching innovative layouts, which will bring attractive prospects for the growth of the global smart bed market.

North America to hold the largest share in the smart beds market
North America smart beds market is holding the lion’s share of 28% in 2021. The region is one of the largest pioneers in the adoption of advanced technology and is witnessing the rising adoption of smart home furniture, including smart beds. Moreover, the rising use of smartphones and increasing demand for connectivity will boost the growth of the market in the coming years. Further, the rising cases of sleep-related disorders in the U.S. will stimulate the demand for smart beds in the coming years.

Impact of COVID-19
The demand for smart beds upsurged as it falls under the category of essential commodities in the healthcare sector. The necessity for minimal human contact further increased the need for smart technologies, which in turn, raised the growth prospects for the smart bed market. While the market witnessed a dramatic loss in the hospitality sector, the demand for smart beds gained a peak in the healthcare segment as they acted as a lifesaver. Smart beds can efficiently identify deteriorating cases and help healthcare staff take steps as early as possible. It allows 24*7 monitoring, while also maintaining a safe distance. In September 2021, Sleep Number delivered new data from 360 Smart Beds at the SLEEP 2021 Annual Meeting. The data reflects that the complexity of the COVID-19 symptom is linked to sleep duration, respiration rate, heart rate, restful time, motion, and sleep quality. The firm claims that the 360 smart bed technology could be of significant use for assessing population health models depending on heart rate.

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Competitive Landscape
Some of the key industry players in the smart bed market include Paramount Bed Co. Ltd., Stryker, Invacare Corporation, Hill-Rom Holdings, Inc., Ergomotion Inc., Hi-Interiors SRL, and others. Industry giants dealing in the smart bed market are continuously working on extending their product portfolio. The companies are continuously involved in new product launches, which could further boost the growth of the market. For instance, Sleep Number, in October 2022, pulled the veil off its Climate360 Smart Bed, which eliminates the challenges associated with climate change. The bed automatically cools, warms, and responds to the needs of the sleeper by regulating the temperature. Apart from that, another renowned industry player, Stryker, launched the first-ever completely wireless hospital bed, ProCuity, in October 2020. The technology is specifically crafted to reduce in-hospital patient falls, lower the cost of hospitality, and also improve nurse workflow and safety.

Segmentation Overview of the Global Smart Beds Market
Global Smart Beds Market is segmented based on product type, end-user, distribution channel, and region. These segments are further subdivided to get a holistic picture of the market. Following are the different segments of the Global Smart Beds Market: –
By Product Type:
Manual
Semi-automatic
Fully automatic

By End User:
Residential
Healthcare
Hospitality
Transportation
Others

By Distribution Channel:
Offline
Brand Stores
Home Centers
Online

By Region:
North America
The U.S.
Canada
Mexico

Europe
The U.K.
Germany
France
Italy
Russia
Spain
Poland
Rest of Europe

Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

South America
Argentina
Brazil
Rest of South America

Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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