Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Smart Bed Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Smart Bed Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Smart Bed Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global Smart
Bed Market is offered. In
accordance with the report, the global Smart Bed Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Smart
beds are bed that provide benefit beyond its traditional functionality. These
beds are incorporated with smart technologies like smart home connectivity,
Internet of Things, anti-snoring features, adjustable bases, smart fabric
technology, climate control, automatic adjustment of mattress firmness
features, biometric sensors, and sleep tracking devices aimed at monitoring
human behavior during sleeping or while undergoing treatment in the hospitals.
Market Drivers
The
growing application of technological advancement in the healthcare sector is
primarily driving the smart bed market. The utilization of smart bed in
hospitals are aimed towards improvising the healthcare services provided to
patients and to provide intensive care to the same. Smart beds are implanted
with cardiac monitoring devices and sensors that can give provide real-time
warning in case of cardiac arrest. The rising events of cardiovascular
disorders are providing the initial impetus to this market. Further, the
soaring investment on the healthcare sector for the equipment of hospitals and
clinics with advanced technical machinery is a determining factor.
The
stressful life of the population and their rising health awareness is
compelling them to adopt smart bed for better sleep on a daily basis and
managing human behavior during sleeping hours. Quality sleep leads to healthy
human body and also improves concentration and productivity of the user. Smart
beds are incorporated with sleep tracking sensors, temperature management tools
and other devices that keeps track of human health during the sleep hours.
Surging
youth population and their health awareness is one factor fueling the growth of
this market. The soaring purchasing power of the consumers and their adoption
of luxury and comfort is charging up the growth of the smart bed market.
The
growing adoption of sustainable and ‘smart’ projects like smart city, smart
home, smart devices and many more is indirectly accelerating the smart bed
market.
Market Restraints
The
production of smart beds requires advanced technology and skilled resources.
The acute paucity of expertise and skill involvement in the production of smart
beds is negatively affecting the smart beds market.
Smart
beds are not so vigorously purchased and sold by retail stores. The lack of
availability with regard to these products are hampering the growth of this
market.
The
quantities manufactured of smart beds are very low and hence the economies of
large-scale production cannot be enjoyed which is straining the growth
prospects of this market. Further, the cost associated with the production of these
products is immoderate owing to the incorporation of automation devices, smart
sensors, real time tracking systems, artificial intelligence and many more.
Opportunities
The
growing population coupled with the increasing proportion of the population
suffering from chronic diseases is expected to result in their dependence on
the healthcare infrastructure which is a lucrative opportunity for widening
this market.
Moreover,
the development of healthcare infrastructure complementary to the rapidly
advancing technology and its application on the healthcare sectors is a good
set of circumstances for kickstart operation in this market.
Trends
At
present North America dominates the market for smart beds and is expected to
continue its leadership in the forecast period. This progress can be traced
back to the increasing penetration of internet and smart phones in this region,
soaring mobile cellular subscription, skyrocketing population suffering from
sleeping disorders like insomnia, obstructive sleep apnea and many more. The
Asia Pacific region is projected to be the fastest growing market in the
forecast period. This progress can be attributable to the presence of China in
this region because it is undergoing home improvement projects as a result of
rapid urbanization and growing disposable income of the population of China.
Moreover, the presence of technologically advanced nations like India, Japan,
South Korea, Singapore and China and their introduction of advanced technology
for automation of activities is a determining factor for the rapid growth of
smart beds market in the Asia Pacific Region during the forecast period.
Segment Covered:
This market
intelligence report on the global Smart Bed Market encompasses market segments based on product type,
distributional channel end user and country.
By
Product Type the global Smart Bed Market has been divided into:
q Fully-Automatic
q Semi-Automatic
q Manual
By Distributional Channel the global Smart
Bed Market has been divided into:
q Online
Stores
q Specialty
Stores
q Supermarkets/Hypermarkets
q Others
By End
User the global Smart Bed Market has been divided into:
q Residential
q Hospital
q Others
By country/region,
the global Smart Bed Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Eight
Sleep
q Ford
Motor Company
q Sleep
Number Corporation
q ReST
q Stryker Corporation
q The BodiTrak
q Invacare Corporation
q PARAMOUNT BED CO., LTD
q Ultimate Smart Bed
q Ascion, LLC
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Smart Bed Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Eight Sleep
In February
2019, a brand new biometric based monitoring smart bed was launched by Eight
Sleep.
Ford Motor Company
In February
2019, a smart bed prototype has been introduced by Ford Motor Company. In order
to emit the happening of co-sleeping problems, this prototype uses a conveyor
belt technology. Such introduction was a part of Ford Interventions.
Sleep Number
In August 2018,
a new store was opened by Sleep Number in the Flatiron district. A digital map
showing the sleep performance of New Yorkers is a chief part of the store
experience.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Smart Bed
Market, size of the market (US$ Mn), and Compound
Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking
into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Smart Bed Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Smart Bed caters to the needs
of various stakeholders pertaining to this industry, namely suppliers, manufacturers,
investors, and distributors for Smart Bed Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Smart Bed Market
v
Identification
of key factors driving investment opportunities in the Smart Bed
Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants