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Smart Pillow Market Size, Trends Analysis And Forecast To 2033
Smart Pillow Market Size
According to The Business Research Company's, the smart pillow market size has grown exponentially in recent years. It will grow from $0.86 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 26.3%. The growth in the historic period can be attributed to demand for sleep improvement, health and wellness trends, urbanization and stress management, market penetration in high-income segments, consumer education and awareness.
The smart pillow market size is expected to see exponential growth in the next few years. It will grow to $2.53 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The growth in the forecast period can be attributed to aging population and sleep disorders, home office and remote work trends, subscription and service models, integration with smart home ecosystems, environmental sustainability concerns, healthcare partnerships and telemedicine, regulatory compliance and standards. Major trends in the forecast period include integration of sleep tracking and monitoring technologies, adoption of adjustable firmness and support features, incorporation of built-in speakers and wireless connectivity, expansion of temperature regulation capabilities, development of ai-powered sleep coaching, integration with smart home ecosystems.
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Market Drivers and Trends:
The increase in sleep-related problems is expected to propel the smart pillow market going forward. Sleep-related problems refer to a range of difficulties and disorders that affect a person's ability to obtain restful and adequate sleep. Modern lifestyles often involve irregular sleep patterns, long working hours, and increased screen time, which can disrupt natural sleep-wake cycles and contribute to sleep problems. Smart pillows offer various features such as monitoring sleep cycles, providing personalized recommendations, adjusting firmness or temperature, and providing good sleep. For instance, In Jan 2024, according to the National Council on Aging, a US-based nonprofit advocacy and service organization that focuses on improving the lives of millions of older adults, a significant percentage of adults experienced insufficient sleep, with a 38.3% to 38.6% prevalence in the 18-44 and 45-64 age groups, and a 28.1% prevalence in those aged 65 and older. Additionally, in 2021, according to Medscape, a US-based television studio, young adults aged 35-44 got the least sleep, with almost 50% only getting 5-6 hours per night and only 33% getting the recommended 7-8 hours. Therefore, the increase in sleep-related problems is driving the growth of the smart pillow market.
Major companies operating in the smart pillow market are developing innovative smart pillows using AI algorithms to gain a competitive edge in the market. This provides users with necessary information about their sleep status along with a sleep score and needs to be charged. For instance, in September 2022, Xiaomi, a China-based multinational electronics company, the Xiaomi Smart Pillow, integrating AI algorithms for comprehensive fitness and health monitoring during sleep. The smart pillow is equipped with a piezoelectric sensor that can precisely record heartbeat, snoring, body movement, and breathing providing necessary comfort and support to the user.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Tactile Medical Inc., DOWNLITE, MAETEL GmbH & Co. KG, Nanit, Messe Frankfurt GmbH, ADVANSA Marketing GmbH, MyPillow Inc., Sleepace, Mediflow USA, Eight Sleep, Down & Feather Company, Inc., Smart Nora, SleepSmart, REM-Fit, GioClavis Co. Ltd., MOONA, Advanced Sleep Technology Inc., iSense AG, Dreampad, Tempur-Pedic Inc., Sunrise Smart Pillow, Peter Kohl Nachfolger GmbH & Co. KG, ROHDEX Bettfedern GmbH & Co. KG, Karl Sluka GmbH & Co. KG
Smart Pillow Market 2024 Key Insights:
• The smart pillow market is expected to grow to $2.53 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%.
• Rising Sleep-Related Concerns Fuel Smart Pillow Market Growth
• Tech-Driven Innovations Transforming the Smart Pillow Market
• North America was the largest region in the smart pillow market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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