Press release
Smart Bed Market Size to Grow to $4.29 Billion in 2028 at a CAGR of 7.0% within the Forecast Period 2024-2033
Smart Bed Market Report
The Business Research Company presents an extensive market research report on the Smart Bed Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The smart bed market size has grown strongly in recent years. It will grow from $3.11 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to demand for personalized comfort, aging population and sleep disorders, growth in home healthcare and wellness, awareness of the importance of sleep, expansion of adjustable beds.
The smart bed market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to integration with sleep tracking apps and wearables, growth in telehealth and remote patient monitoring, personalized sleep solutions for chronic conditions, demand for ergonomic and pressure-relief beds, global expansion of smart home technology, remote and app-controlled bed adjustments. Major trends in the forecast period include ai-driven sleep optimization and coaching, smart beds with temperature and humidity control, voice and ai-powered sleep assistants, sleep disorders detection and therapy integration, bed designs for co-sleeping and couples, sleep surfaces with biometric monitoring..
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Key Market Players:
Besco Medical Ltd., BodiTrak Inc., Hi-Interiors SRL, Hill-Rom Holdings Inc., Invacare Corporation, Paramount Bed Co. Ltd., Responsive Surface Technology LLC, Sleep Number Corporation, Eight Sleep Inc., Stryker Corporation, Ultimate Smart Bed Inc., BAM Labs Inc., iNyx Inc., Joerns Healthcare LLC, Linet Spol s.r.o., Vista Medical Ltd., Balluga Ltd., Ascion LLC, Ergomotion Inc., Luna Innovations Inc., Retail Employees Superannuation Trust, Kingsdown Inc., Simmons Bedding Company LLC, Tempur Sealy International Inc., Leggett & Platt Inc., Hilding Anders International AB, A.H. Beard Pty Ltd., Silentnight Group, Arjo AB are prominent players in the industry.
Market Drivers:
Rapid expansion in the hospitality industry is driving the growth of the smart bed market. The hospitality industry is a broad group of businesses such as restaurants, hotels, casinos, amusement parks, resorts, cruises, and others that are involved in providing services to customers. Companies in the hospitality industry are increasingly investing in innovative products to enhance the experience of customers by providing better sleep and maintaining a clean and hygienic environment. For instance, in June 2023, according to Passport Photo Online, a Poland-based online website, in 2022, there were 132,228 hotels and motels in the United States, an 8.3% increase from 2021. Therefore, rapid expansion in the hospitality industry is expected to boost the smart bed market during the forecast period .
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https://www.thebusinessresearchcompany.com/report/smart-bed-global-market-report
Market Segments Include:
1) By Type: Manual, Semi-Automatic, Automatic
2) By Application: Healthcare, Hospitality, Residential, Other Applications
3) By Sales Channel: Supermarket/Hypermarket, Online Stores, Specialty Stores, Other Sales Channels
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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