Smart Bed Market

Global Smart Bed Market Size (2024 to 2029)

The global smart bed market is predicted to reach USD 1.82 billion in 2024 and USD 3.07 billion by 2029, growing at a CAGR of 11% during the forecast period.

Smart beds are generally designed to track a person's sleep. As we know, the quantity and quality of sleep have a lasting impact on human health. A smart mattress is equipped with technology that tracks and sends information about the appropriate amount of sleep a person is receiving. The IoT as a technology has permeated all aspects of human life. As a result, the tech-savvy young generation is looking for products that help them integrate technology into their seemingly non-tech daily activities. Seemingly, non-technical products, such as doors and furniture, are now undergoing a digital shift as manufacturers seek new ways to generate revenue by adding innovative features.

The smart bed, available for medical and home use, comes with a variety of features that can enhance the user experience in ways that would not be possible otherwise. Smart hospital beds have features like heart rate monitors and sleep analysis to help doctors track patients' conditions in real time. Smart beds for home use take advantage of technologies like smart sensors, Wi-Fi, and microphones to activate features like smart alarms, automatic under-bed lighting, and anti-snoring functionality. The growing adoption of smart beds in the healthcare industry is driving the growth of the smart bed market. These beds provide benefits such as improved and intensive patient care in hospitals and health benefits for residential consumers. New entrants can get a glimpse of developments in this emerging market. The semi-automatic segment is benefiting from the market's growth.

MARKET DRIVERS

The increase in cases of back problems associated with uncomfortable sleeping surfaces is the key factor driving the growth of the segment.

This pushes manufacturers to introduce smart technology in this category. In emerging economies like Brazil and China, a growing number of wealthy consumers also drive demand for a high-end spring mattress, thus promoting technology integration. Connected smart home devices are gaining ground among consumers across the world. These smart devices with enhanced network coverage and innovative technologies enable increased use of smart mattresses over the years. Besides, the increased integration of communication technologies like LTE, 4G, and others with connected devices is foreseen to accelerate the call for smart beds in the future.

The growing demand for noninvasive health monitoring solutions and the increasing adoption of technologically advanced products are believed to be the dynamic factors behind the rapid growth of the smart bed market worldwide. Additionally, the evolution of user-friendly technologies is expected to drive demand for smart beds during the forecast period. In addition, factors attributable to the growth of the smart bed market include increasing disposable income and consumer purchasing power. The growing number of hotels and the increasing demand for smart technologies are also believed to be driving the growth of the smart bed market. Furthermore, increased investment in infrastructure would lead to the adoption of smart beds in the residential and other sectors.

The main purpose of smart beds used in hospitals is to improve patient management and help the patient recover better.

The market has gained significant traction in the healthcare sector, owing to the continuous advancement of smart bed technologies, which enable hospitals to provide better patient care service. Increased government investment in hospitals to create advanced equipment and smart beds can drive market growth profitably. The segment is expected to grow at a rapid rate during the forecast period, owing to the shift in patient preference and the increased demand from advanced healthcare facilities. An increase in the incidence of cardiovascular disorders is expected to drive the demand for smart beds, as these beds are integrated with built-in cardiovascular monitoring devices and sensors that sound an alarm if a patient has a heart attack.

MARKET RESTRIANTS

However, the high cost of smart beds is expected to hamper the global smart bed market. Furthermore, a lack of consumer awareness of the health benefits associated with smart beds is expected to slow the growth of the smart bed market.

Impact of COVID-19 on the Global Smart Bed Market

The COVID-19 outbreak has affected different industries differently. On the one hand, it has been a growth engine for food, medical, and basic necessities, but it has also hampered the supply and demand for home decor and lifestyle products. Due to the foreclosure scenario in the different economies, the supply chain of smart beds and mattresses has been hampered.

REPORT COVERAGE

REGIONAL ANALYSIS

Asia-Pacific is expected to contribute significantly to the global smart bed market due to the upward trend of IoT adoption in the market. The region is the most lucrative market in the world due to emerging economies such as India and China. Additionally, product innovations from manufacturers in China, Korea, and Japan are driving the growth of the smart bed market in the area. Increasing per capita income in the region is also driving market growth. One of the reasons that Asia-Pacific has become the fastest growing market is due to increased investment in the healthcare sector and its infrastructure.

KEY PLAYERS IN THE GLOBAL SMART BED MARKET

The global smart bed market is controlled by these major players, such as Stryker Corporation, ArjoHuntleigh AB, Hill Rom Holdings, Inc., Paramount Bed, LINET spol. s r.o., Invacare Corporation, Select Comfort Corporation, Responsive Surface Technology, LLC, Hi-Interiors srl, Narang Medical Limited, A.H. Beard Pty. Limited and Balluga Limited, and others.

RECENT HAPPENINGS IN THE GLOBAL SMART BED MARKET

• In February 2019, Eight Sleep released a new smart biometric monitoring mattress with a dual thermostat, which can keep the bed warm in winter or cool in summer.

• BAM Labs has launched an innovative and advanced contactless smart bed technology that has the capabilities to interpret biological signal processing to collect various information about the user's body while they sleep. BAM Labs' cloud-based solution also provides a flexible platform through which conditions such as arrhythmias and apneas can be monitored.

DETAILED SEGMENTATION OF THE GLOBAL SMART BED MARKET INCLUDED IN THIS REPORT

This research report on the global smart bed market has been segmented and sub-segmented based on the mode, type of equipment, end-use, and region.

By Mode

• Manual

• Semi-Automatic

• Automatic

By Type of Equipment

• Sensors

• Automation and Control

• Real-Time Systems

• Software

By End-Use

• Healthcare

• Residential

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus