Wearable Sleep Trackers Market to Grow at a Significant Pace by 2028 | Garmin Ltd., Koninklijke Philips N.V., Huami Corporation, Fossil Group

Sleep disorders are when a group of conditions, be it any health problem or excess of stress starts affecting the ability to have a healthy sleep on a regular basis. Sleep disorders such as insomnia, sleep apnoea, parasomnia, restless leg syndrome and narcolepsy are highly prevalent globally. Whether they are caused by excess stress or any health problem, sleep disorders are becoming increasingly common. Sleep trackers are devices that track sleeping habits and help in determining important decisions for healthy sleep cycle and lifestyle. Wearable sleep trackers are devices that are connected to the body. A sensor is attached to the body in a form of wearable sleep tracker device that tracks the sleep cycle and patterns. Sleep tracking involves recording REM and NREM sleep and analysis of dark and light sleep patterns. Wearable sleep trackers record the hours of sleep, analyse the data and recommend of what the body requires for an efficient sleep at night. Wearable sleep trackers can also serve as an activity and fitness monitor with GPS. With sleep analysis, wearable sleep trackers also provide fitness uptakes such as calories consumed, distance walked, heart and breathing rate, etc.

The wearable sleep tracker devices include wearable ring devices, wearable wristband and hand band devices, wearable headband devices and sleep mask tracker devices. Wearable sleep tracker ring devices are small devices worn in the fingers that have sensors, which are connected with a software and combine data for sleep tracking. The ring measures physiological signals of the body, stores understanding of the lifestyle and guides to make optimal health choices based on sleep tracking. Wearable wrist and hand band devices use actigraphy for tracking sleep. Sensors are attached to the wrist or a hand band that tracks and monitors the movement while sleeping. Wrist and hand band sleep tracker devices are the most common type of wearable sleep tracker devices. Wearable head band devices analyse the brain activity, commonly known as electroencephalography. The sensors are present in the head band, which has electrodes to monitor the brain activity. This wearable sleep tracker device is entirely dependent on brain activity monitoring for tracking sleep. Sleep mask tracker devices include masks and smart components or trackers. The mask is glued to the face and smart components are attached to it. This smart component has sensors that further pick up the physiological measurements. These sleep mask tracker devices use accelerometry and electroencephalography.

In terms of revenue, the global wearable sleep tracker market is projected to expand at a CAGR of 7.6% during the forecast period and is expected to be valued at US$ 3,072.0 Mn by the end of 2028. The Asia-Pacific market for wearable sleep tracker is expected to witness significant growth over the forecast period.

The global wearable sleep tracker market is segmented into eight major regions, namely North America, Western Europe, Eastern Europe, Latin America, Asia Pacific (Asia-Pacific excluding China & Japan), Japan, China and Middle East & Africa (MEA). In terms of value. Asia Pacific, China and Latin America are expected to be the fast-growing regional markets in terms of revenue in the global wearable sleep tracker market, registering healthy CAGRs over the forecast period.

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In North America, the U.S. is expected to be the dominant market for wearable sleep tracker due to growing incidence of insomnia, sleep apnoea and other sleep-related disorders. According to the National Institutes of Health, the U.S. had a high incidence and prevalence of insomnia because of the growing obese population and unhealthy lifestyle. Easy availability of wearable sleep tracker devices and good wellness penetration in the region are the major factors expected to drive the growth of the market for wearable sleep tracker in the U.S. over the forecast period. Increasing healthcare expenditure and growing awareness regarding the benefits of wearable sleep trackers are also expected to drive the growth of the wearable sleep trackers market over the forecast period.

The second dominant market for wearable sleep tracker is Western Europe due to the increase in healthcare spending and prevalence of sleep disorders and other-related ailments. Wearable sleep trackers are available in different styles and types, which make the options wide for people to choose from. The wide price range allows them to opt for the wearable sleep tracker according to their affordability. Easy availability of different types of wearable sleep trackers in the region is expected to drive the growth of the wearable sleep trackers market in the region over the forecast period.

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The China market for wearable sleep tracker is also expected to grow over the forecast period owing it to rise in geriatric and obese population. With growing population and unhealthy lifestyle, the market for wearable sleep tracker is expected to grow tremendously. With the changing world, there has been a shift from non-wearable sleep tracker devices to wearable sleep tracker devices. Wearable sleep tracker devices have been preferred over non-wearable sleep tracker devices owing it to the consistency in data collection and improved efficiency of analysing the sleep cycles, patterns and other related data.

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