Smart Bed Market: Global Industry Analysis and Forecast (2022-2029) Trends, Statistics, DynamicS

The Smart Bed Market was valued at USD 3.36 Bn. in 2021. Global Smart Bed Market size is expected to grow at a CAGR of 6.8 % through the forecast period.
Smart Bed Market Overview:
A smart bed is a furniture with sensors and other technology that collect data on a person's sleeping patterns. It can also track your heart rate, breathing patterns, sleep duration, and body movements while you sleep. It sends this information to a smartphone and provides several advice for bettering sleep, which helps to improve the individual's cognitive performance. Because of their built-in TV or alarm and temperature control features, smart beds are currently seeing an increase in sales, as well as the rising prevalence of sleep problems including insomnia. One of the primary aspects driving a positive market outlook is the growing use of smart beds in the healthcare sector as a result of more automation and improved patient room technologies. Aside from that, rising government investments in the healthcare market, along with a growing senior population, have had a favorable impact on the installation of smart beds around the country.

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Smart Bed Market Covid-19 Insight:
Many smart bed firms found it impossible to conduct face-to-face meetings with their channel partners and close business deals due to tight lockdown measures implemented in most countries. This has a substantial impact on large corporations' product revenues. Furthermore, during the pandemic, the closure of retail outlets and electronics businesses, combined with limitations in raw material supply, slowed the rate of product demand.

However, as more individuals prefer to spend more time indoors, there has been a shift in purchasing behavior, with an increased interest in online outlets. A rise in product sales via online platforms could help the market grow in a positive direction. Also, the lockdown constraints will shift consumer behavior toward interior well-being, personal care, and comfort, boosting demand for smart home accessories such as smart beds.
Smart Bed Market Dynamics:
Market Trend: Rapid technological advancements in the healthcare market have increased the demand for smart devices, such as smart beds, to improve patient care and treatment outcomes. Smart hospitals have seen increasing use of automation, digitization, and other technology improvements to improve treatment efficiency and increase the use of smart beds to track sleep quality and other health parameters. The need for advanced products has risen as a result of the rapid technological shift toward care delivery.

Market Opportunity:

Smart beds are a type of high-tech- tech bed that allows users to enhance their beds' capabilities beyond their fundamental functions by automatically adapting the beds' settings to the users' comfort. Smart beds provide both comfort and health benefits to their users. Smart beds combine innovative features with cutting-edge technology to provide comfortable changes and connectivity while resting. Sleep tracking, climate control, smart fabric technology, adjustable bases, anti-snoring function, IoT, and smart home connectivity are just a few of the features available.
Pressure mapping, which detects and evaluates pressure on bodily joints that might cause health concerns, led to the development of smart beds. Blood pressure, heartbeats, movements, air pressure, and snoring will all be monitored by these beds. The smart bed market is still in its early phases of mass production, with sales very slowly increasing. Sleeping well keeps individuals healthy, relieves discomfort, increases productivity, and makes them happy. Sleep disorders are becoming more common among adults, bringing more attention to the concept of good sleep. As a result, smart beds offer a lot of potential.

Built-in biometric sensors detect body movement while sleeping, heart rate, breathing pattern, and sleep duration, among other technologies adapted and added to the bed to improve health, sleep, and comfort. It helps in the improvement of sleep quality and makes suggestions to adjust itself to the user's preferences while sleeping. Some smart beds now send all of your sleep data to your smartphone and provide recommendations on how to sleep better. Smart beds are also being used in the medical field to monitor patients' heart rates and follow their sleep analysis in real-time.

These are developed to detect and manage variations in inpatient conditions. It uses monitoring to keep track of the patient's condition. Wi-Fi and microphones were added to certain smart beds used in the home. Some smart beds include a smart alarm and anti-snore feature, as well as anti-snoring gadgets that protect a person's health. Also, the temperature control feature is provided to maintain the temperature in accordance with body requirements, and users can connect with their favorite applications, such as exercise time, Others can be changed by adjusting the bed's setting using smartphones or other smart devices.

Market Restraints: Manufacturing and selling products under many trademarks can damage the reputation of the brand/company selling the product. Counterfeiters can enter distribution channels and offer fake items, affecting consumer demands and reducing product demand. The increasing presence of counterfeiters via online channels could hamper the smart bed market's growth.

Market Drivers: Consumers are looking for new ways to improve their lifestyles as technology advances at an incredible rate. This has increased customer interest in adopting new technologies and smart solutions, which bring plenty of advantages. Increased customer interest in establishing a smart home ecosystem has driven demand for smart home accessories, such as smart beds, which is expected to drive product demand in residential spaces.
Smart Bed Market Segment Analysis:
Based on Product Type, the Smart Bed Market is segmented into Manual, Semi-automatic and Fully automatic. In 2021, the market for semi-automatic smart beds was estimated to be worth US$ 1,929.6 million. The healthcare sector is seeing an increase in the use of semi-automatic beds. Semi-automatic beds require only basic technological understanding to operate. Semi-automatic beds are also very economical, user-friendly, and have a variety of communication options other than the internet, such as Bluetooth and NFC. Furthermore, semiautomatic beds are being used more frequently in transportation applications, contributing significantly to total market share and growth rate.



Based on the Application, the Smart Bed Market is segmented into five category: residential, healthcare, and hospitality, Transportation, and Other. Because of the growing comfort facilities and services in the healthcare sector, the healthcare sector is forecast to command a leading segmental share in the market. Furthermore, advances in healthcare technologies have allowed the medical sector to invest in improved healthcare opportunities, resulting in a surge in demand for innovative products in smart hospitals. Medical beds with smart features have become increasingly important for monitoring patients and providing treatments, boosting the Smart Bed market's potential growth. Smart beds in hospitals are expected to grow rapidly across the country, as they may identify any critical signals in patient’s early, allowing healthcare personnel to quickly respond to the patient's health, and this has increased the use of smart beds in healthcare systems.

With increasing consumer expenditures on smart home automation and Internet of Things (IoT) growth across the residential infrastructure, the residential market is likely to increase steadily. People with chronic sleep disorders can track their sleeping patterns by connecting smart beds to smart devices. This will increase demand for such items in families. Furthermore, growing home healthcare supports product consumption because patients can treat themselves remotely by connecting to medical teams and save a significant amount on their healthcare costs.

Based on Distribution Channel, In terms of distribution channels, the market is divided into online and offline channels. Because of the rising growth of retail stores and electronic stores in a developing countries, the offline channel is expected to lead the overall smart beds market segmental share. Consumers also prefer products from retail branded shops for several reasons, including from in-store salesperson assistance to product testing and demonstrations, which allow customers to make a better decision before buying.

Due to the presence of notable smart home electronics manufacturers on online platforms, the online category will see tremendous growth. The availability of products across multiple platforms, as well as various discounts, cashback offers, and fast returns will help the online segment develop.
Smart Bed Market Regional Insights:
Asia Pacific would increase at the fastest rate of 5.6 %, through the forecast period. China holds a significant part of the regional market, owing to massive home improvement projects done by customers as a result of rapid urbanization and the region's growing purchasing power, which is driving demand for smart beds. The Asia Pacific has been leading the way in digital transformation and driving technology trends across the country in recent years.

North America dominated the smart beds market with a share of 28% in 2021. The increasing use of the internet in North America has increased the demand for smart home furniture, particularly smart beds. Smartphone penetration is increasing, as are mobile cellular subscriptions and internet usage, all of which are driving demand for smart beds in the region.

The objective of the report is to present a comprehensive analysis of the global Smart Bed Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Smart Bed Market dynamic, structure by analyzing the market segments and projecting the Smart Bed Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Bed Market make the report investor’s guide.
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Global Smart Bed Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 3.36 Bn.


Forecast Period 2022 to 2029 CAGR:
6.8%
Market Size in 2029:
US $ 5.70 Bn.


 Segments Covered:
by Product Type
• Manual
• Semi-automatic
• Fully Automatic


by Application
• Residential
• Healthcare
• Hospitality
• Transportation
• Others


by Distribution Channel
• Offline
• Online



Smart Bed Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Smart Bed Market Key Players
• Hi-Interiors Srl
• Hill-Rom Holding
• Johnson & Johnson
• Paramount Bed Holding
• Joerns Healthcare LLC
• Sleep Number Corporation
• Stryker Corporation
• Arjo AB
• ReST
• Bodi Trak
• Ultimate Smart Bed
• Vista Medical
• Invacare Corporation
• Ascion LLC

Frequently Asked Questions:

1. Which region has the largest share in Global Smart Bed Market?
Ans: Asia Pacific region holds the highest share in 2021.

2. What is the growth rate of Global Smart Bed Market?
Ans: The Global Smart Bed Market is growing at a CAGR of 6.8% during forecasting period 2022-2029.

3. What is scope of the Global Smart Bed market report?
Ans: Global Smart Bed Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Smart Bed market?
Ans: The important key players in the Global Smart Bed Market are – Hi-Interiors Srl, Hill-Rom Holding, Johnson & Johnson, Paramount Bed Holding, Joerns Healthcare LLC, Sleep Number Corporation, Stryker Corporation, Arjo AB, ReST, Bodi Trak, Ultimate Smart Bed, Vista Medical, Invacare Corporation and Ascion LLC

5. What is the study period of this market?
Ans: The Global Smart Bed Market is studied from 2021 to 2029.