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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