Latest News - Smart Bed Market: Healthcare is expected to lead the Application segment during 2024-2028

The Smart Bed Market is being driven by Increasing investments in sleep technology

The Smart Bed Market is expected to grow at a CAGR of 8.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1379.2 million. The smart bed market has experienced significant growth due to the increasing preference for technology-driven devices that enhance health and wellness during sleep. Millennials lead this trend, seeking advanced features and connectivity in their sleep solutions. Smart beds integrate cutting-edge technologies, such as anti-snoring, climate control, smart fabric, automatic adjustment, sleep tracking, IoT, and smart home connectivity. Leading market players, including Stryker with its ProCuity smart bed, have responded to this demand by innovating and delivering high-tech, comfortable, and customizable sleep systems. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Healthcare
  • Residential
  • Hospitality
• Distribution Channel
  • Offline
  • Online
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • APAC
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing investments in sleep technology
• Rising demand for improved sleep quality
• Increase in online retailing

However, the market also witnesses some limitations, which are as follows:

• Presence of counterfeit products
• Long product replacement cycle
• Fluctuations in raw material prices

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Market Scope in Smart Bed Market Research Report

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Research Analysis Overview

The Smart Bed market is experiencing significant growth as homeowners and healthcare providers seek to enhance the quality of sleep and improve overall health. These advanced beds come equipped with various features, including alarm systems that can be synced with home automation systems and IoT devices, luxury bedding, and sleep tracking technology. Some smart beds also offer anti-snoring features and adjustable bases to address sleep apnea and cardiovascular disorders. Smart fabric technology and climate control systems further customize the sleeping experience, while sleep tracking and patient management systems provide valuable data for healthcare professionals and state governments to improve patient care and recovery. The young population is increasingly recognizing the health benefits of smart beds for both residential and commercial purposes. The Sleep Number survey reports that 72% of consumers believe that a good night's sleep is essential to their overall health and well-being. As smart homes continue to evolve, the role of sleep technology in enhancing user experience and healthcare will only become more prominent.

Market Research Overview

The global home furnishings market encompasses businesses involved in the manufacturing and marketing of furniture, home decor, floor coverings, and appliances. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by manufacturers and marketers of consumer electronics, home furnishings, decorative products, household appliances, and other homeware items. Factors driving growth in this sector include the expansion of residential and commercial construction sectors, leading to increased demand for new furniture and renovation projects, particularly in key markets such as the US, China, and India. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/