Smart Bed Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

With the increasing number of senior citizens, the quality of their life arises more attention. Smart beds can be used as intelligent tools to ease their life. Besides, user-oriented care becomes more dominant recently in the healthcare industry, especially for the elderly.  60 billion hours of sleep are consumed every day on average. As per National Center for Biotechnology Information, in a normal sleep period, a person experiences four to six sleep cycles. Chronic sleep loss or sleep disorders may result in an annual cost of billions worldwide in health care expenses and lost productivity.  However, the rising prevalence of insomnia disease globally is leading to a greater demand for smart beds. As per NCBI, Various studies worldwide have shown the prevalence of insomnia in 10%–30% of the population, some even as high as 50%–60%. It is common in older adults, females, and people with medical and mental ill-health. Moreover, the cost of bad sleep in the U.S., Canada, UK, Germany, and Japan is US$ 411, 21.4, 50, 60 and 138 bn respectively.
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A rise in disposable income coupled with the surging spending on furniture and bedding globally is leading to the growth of the market.  As per Statista, In 2021, consumer spending on furniture and bedding sales were forecast to reach 119.8 billion U.S. dollars, five percent more than 2019, where the sales amounted to 114.5 billion dollars. By 2025, it was projected that nearly 22 billion U.S. dollars would be spent on stationary sofas and sofa sleepers in the United States.

According to UnivDatos Market Insights (UMI)’ research report “Global Smart Bed Market Analysis, 2020”, the demand for smart beds is emerging from the hospitality sector. A rise in the number of tourists across the globe is leading to the growing number of the hotel room, which is positively impacting the global smart beds market. As per the World Bank, the number of international tourists reached 2.28 billion in 2019, up from 1.96 billion in 2015. The number of international departures more than doubled between 1997 and 2017, from 687 million to 1.57 billion per annum. Moreover, the number of hotel rooms globally had risen by 17.7% since 2008 to 17 million in 2018. These rooms were in more than 184,000 hotels, a rise of 8.4% from 2008 levels. The fact that the rate of expansion in the number of rooms is more than double the rate of expansion of hotels indicates that the average hotel size has been growing.

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Based on the Type, the manual segment acquired the major market share and dominated the global Smart Bed Market in 2020. The booming healthcare sector coupled with the opening of new hospitals, nursing centers, etc., is adding pace to the growing demand.   Also, emerging awareness about the benefits of smart beds in developing countries is leading to the greater demand for manual smart beds. Also, the wide availability of manual three-function smart beds and manual five-function smart beds is adding pace to the growth of the market.

Based on the sales channel, The specialty stores segment grabbed the major market share and dominated the market in 2020.  The advantages of specialty stores such as product demonstrations, a wide range of product categories, the assistance of skilled staff, and the immediate shipping of products are leading to the growing share. Moreover, specialty stores provide training to their employees to assist customers and a few of them also offer price-matching guarantees.

North America to Grab Lion’s Share, But the Asia Pacific to witness Explicit Growth

Based on the Region, the North America region dominated the global Smart Bed market in 2020., stated in UnivDatos Market Insights (UMI)’ research report “Global Smart Bed Market Analysis, 2020”. The growing popularity of smart homes and smart cities in the countries such as the U.S and Canada is leading to the growing demand for smart beds as well.  The number of smart homes in the United States is expected to reach 77.05 million by 2025 up from 35.39 million in 2019. Furthermore, the furniture and furnishings in the United States increased from USD Bn 140.52 annually in 20101 to USD Bn 245.38 in 2020, as revealed by As per U.S. Bureau of Economic Analysis.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Smart Bed Market are ArjoHuntleigh AB, BodiTrak,  Hi-Interiors SRL,  Hill Rom Holdings Inc, Invacare Corporation, Joerns Healthcare LLC, LINET spol. s r.o., Paramount Bed Co.Ltd, Sleep Number Corporation, Stryker Corporation, etc, The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.  

“Global Smart Bed Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the Smart Bed Market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.  

 Market Segmentation:

1.      By Type (Manual, Semi-Automatic, Automatic)

2.      By Application (Healthcare, Hospitality, Residential, Others)

3.      By Sales Channel (Supermarket/hypermarket, Online Stores, Specialty Stores, Others)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (ArjoHuntleigh AB, BodiTrak,  Hi-Interiors SRL,  Hill Rom Holdings Inc, Invacare Corporation, Joerns Healthcare LLC, LINET spol. s r.o., Paramount Bed Co.Ltd, Sleep Number Corporation, Stryker Corporation)

Key questions answered in the study:

1.      What are the current and future trends of the global Smart Bed market industry?

2.      How the industry has been evolving in terms of end-user demand and application areas?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the Smart Bed market industry?

5.      What are the customer orientation, purchase behavior, and expectations from the Smart Bed market firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL SMART BED MARKET COVID-19 IMPACT

6 GLOBAL SMART BED MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY SALES CHANNEL

10 MARKET INSIGHTS BY REGION

11 SMART BED MARKET DYNAMICS

12 SMART BED MARKET OPPORTUNITIES

13 SMART BED MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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