Global Smart Bed Market Size By Type (Manual, Semi-automatic), By Application (Residential, Hospital, Hospitality), By End-User (Offline, Online), By Geographic Scope And Forecast

Smart Bed Market Size And Forecast

Smart Bed Market size was valued at USD 3.18 Billion in 2022 and is projected to reach USD 5.19 Billion by 2030, growing at a CAGR of 6.3% from 2023 to 2030.

The demand for smart beds has grown due to rising sleep technology costs from higher living standards. The growing acceptance of smart homes is another factor driving the industry forward. Significant investment in cutting-edge sleep devices has been made in response to rising awareness of the need to get good sleep. The Global Smart Bed Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors playing a substantial role in the market.

Global Smart Bed Market Definition

A form of technologically enhanced bed known as a “smart bed” enables users to go beyond the basic features of their beds by automatically altering the bed’s settings to the users’ comfort. While enhancing user comfort, smart beds also have positive effects on health. Technology-enhanced features are integrated into smart beds, enabling comfortable adjustments and connectivity while you sleep. Some features include sleep tracking, automated mattress firmness adjustment, climate control, smart fabric technology, adjustable bases, anti-snoring function, IoT, and smart home connectivity.

Pressure mapping, which records and evaluates pressure on bodily joints that may result in health issues, led to the development of smart beds. These mattresses will also monitor heart rate, blood pressure, motions, air pressure, and snoring. Sales of smart beds are expanding steadily as they enter the mass production phase. Good sleep enhances productivity, reduces discomfort, keeps individuals healthy, and makes them happy. Getting a good night’s sleep is receiving much attention as the prevalence of sleep problems among adults is rising. As a consequence, smart beds offer much promise.

Global Smart Bed Market Overview

The growing young population and rise of disposable income will drive the market growth of Smart Bed. Hospitals are now demanding smart beds for their patients which increases the market demand for Global Smart Bed Market. As the geriatric population is also increasing which positively impacts the market by the installation of Smart Bed. In developing countries, healthcare sector expenditure rises for smart bed installation. These smart beds provide patient data by which hospitals can improve the quality of care to the patient.

Disposable income is increasing which leads to the purchase of luxury and comfortable products by propelling the growth of the Global Smart Bed Market. The rising awareness about the benefits of smart beds among customers will fuel the demand for Global Smart Bed Market. Change in lifestyle as people are now demanding technological products with AI and advanced technology. People also nowadays become more conscious about their health which also affects the market of Global Smart Bed.

Companies are now investing in the development of Smart Beds with several innovative features such as a thermostat, blood pressure measuring device, air pressure, and other devices that will create lucrative opportunities for the Global Smart Bed Market. Responsive Surface Technology, LLC, a sleep technology innovator, has partnered with athletes including Ellie Salthouse, Matt Hanson, and Keon Broxton to help them in training and recovery. This partnership will help them get valuable data on the basis of which they can amend their products accordingly for better results which opens new ways and create several opportunities for the Global Smart Bed Market.

Global Smart Bed Market Segmentation Analysis

The Global Smart Bed Market is segmented on the basis of Type, Application, End-User, and Geography.

Smart Bed Market, By Type

• Manual
• Semi-automatic
• Automatic

Based on Type, the market is bifurcated into Manual, Semi-automatic, and Automatic. Manual accounted for the largest market share of 2019 and is projected to grow at a CAGR of 4.02% during the forecast period. Semi-automatic was the second-largest market in 2019.

Smart Bed Market, By Application

• Residential
• Hospital
• Hospitality
• Others

Based on Application, the market is bifurcated into Residential, Hospital, Hospitality, and Others. Hospital accounted for the largest market share in 2019 and is projected to grow at the highest CAGR of 5.66% during the forecast period. Residential was the second-largest market in 2019. The growth in the application related to IoT healthcare is the major factor that contributes to the penetration of smart beds in the healthcare industry The expansion of the investments in sleep innovation is being caused to the higher adoption of patients resulting in the requirement for smart beds.

Smart Bed Market, By End-User

• Offline
• Online

Based on End-User, the market is bifurcated into Offline and Online. The Offline segment is anticipated to dominate the Global Smart Bed Market as electronics and retail shops are becoming increasingly popular in emerging nations. Customers also prefer items from retail branded stores for several reasons, including assistance from in-store salespeople and the opportunity to test and sample things before making a decision.

Smart Bed Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Regional Analysis, the Global Smart Bed Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounted for the largest Smart Bed Market in 2019 and is projected to grow at a CAGR of 5.26% during the forecast period. Europe was the second-largest market in 2019; However, Asia-Pacific is projected to grow at the highest CAGR near future, due to robust urbanization, as well as higher disposable incomes of individuals in this region.

Key Players

The “Global Smart Bed Market” study report will provide valuable insight emphasizing the global market. The major players in the market are Paramount Bed Co., Stryker Corporation, The BodiTrak, Hill Rom Holdings Inc., Invacare Corporation, ReST, Sleep Number Corporation, Ascion, LLC., Hi-Interiors srl., Ultimate Smart Bed, Hi-Interiors Srl, Healthcare LLC, and Arjo AB.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In August 2021, Hi Interiors Srl launched a four-poster bed with fascinating elements such as HiAm to encourage enjoyment and well-being in the bedroom. For entertainment in bed, the HiAm bed boasts a 70-inch screen, an audio system, ambient reading lighting, and a 4K projector.
• In January 2021, To offer Sleep2Win smart mattresses that can be customized for sleeping preferences, Corsicana Mattress Co. partnered with Retail Service Systems (RSS).

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Smart Bed Market. We cover the major impacting factors driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Smart Bed Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope