PUBLISHER: The Business Research Company | PRODUCT CODE: 1582604
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582604
A smart sleep monitor is a device that includes sensors and connectivity features to track and analyze various sleep metrics, including sleep duration, stages, heart rate, and movement. It offers insights and recommendations for improving sleep quality through apps or other interfaces and often integrates with other smart home devices and health platforms.
The primary categories of smart sleep monitoring are wearable and non-wearable devices. Wearable smart sleep monitors are gadgets that track and analyze sleep patterns and related health metrics in real-time using sensors worn on the body. These devices utilize technologies such as sensing technology, computing technology, and display technology. They are applied in various contexts, including both online and offline sales.
The smart sleep monitor market research report is one of a series of new reports from The Business Research Company that provides smart sleep monitor market statistics, including the Smart sleep monitor industry's global market size, regional shares, competitors with a smart sleep monitor market share, detailed Smart sleep monitor market segments, market trends and opportunities, and any further data you may need to thrive in the smart sleep monitor industry. This smart sleep monitor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart sleep monitor market size has grown rapidly in recent years. It will grow from $22.25 billion in 2023 to $25.41 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth during the historic period can be attributed to the popularity of wearable technology, the convenience of home monitoring, applications for patient monitoring, personalized sleep solutions, and the affordability of sleep apps.
The smart sleep monitor market size is expected to see rapid growth in the next few years. It will grow to $43.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth anticipated during the forecast period can be attributed to a focus on mental health, regulatory support for sleep health initiatives, consumer demand for data-driven insights, an expanding range of non-wearable devices, and rising demand for smart sleep monitors. Key trends in the forecast period include integration with fitness devices, expanding industry partnerships, increased investment in sleep research, advancements in sensing technologies, and the use of data analytics and AI.
The increasing prevalence of sleep-related disorders is expected to drive the growth of the smart sleep monitor market in the future. Sleep-related disorders are conditions that disrupt regular, high-quality sleep, affecting sleep quantity, quality, or timing and potentially leading to excessive daytime sleepiness. This rise in sleep-related disorders is mainly due to socioeconomic stress, lifestyle changes, and an aging population. Advanced sleep monitors track various metrics, including heart rate, heart rate fluctuations, breathing patterns, snoring, body temperature, and periods of wakefulness, to analyze sleep patterns and detect potential health issues. For example, a May 2023 report by SleepFoundation.org, a US-based non-profit focused on sleep health information and comprehensive product testing, found that between 50 million and 70 million people experienced persistent sleep disorders, with a rise linked to post-traumatic stress disorder (PTSD). Furthermore, 70% of adults are affected by seasonal affective disorder (SAD). Consequently, the growing incidence of sleep-related ailments is fueling the expansion of the smart sleep monitor market.
Major companies in the smart sleep monitor market are concentrating on developing advanced solutions, such as AI-based integrated smart sleep monitor devices, to improve accuracy, offer personalized insights, and enhance the overall user experience. AI-based integrated smart sleep monitor devices are sophisticated systems that use AI algorithms to analyze sleep patterns, predict sleep quality, and provide personalized recommendations for better sleep. For example, in July 2024, Samsung Electronics Co. Ltd., a South Korea-based electronics company, introduced the Galaxy Ring. This device includes comprehensive health tracking features, including sleep metrics such as movement, sleep latency, heart rate, and respiratory rate. It also monitors menstrual cycles through overnight skin temperature tracking. Additionally, the ring offers continuous heart rate monitoring, alerts users to unusual fluctuations, automatically detects and tracks various exercises, and sends inactivity notifications to encourage movement.
In July 2023, Beacon Biosignals Inc., a US-based company specializing in computational neurodiagnostics and EEG analytics, acquired Dreem for an undisclosed amount. This acquisition enables Beacon to combine Dreem's clinically validated hardware with its advanced EEG analytics platform, enhancing the Dreem device and advancing clinical trials and treatments for conditions such as narcolepsy, Alzheimer's disease, and schizophrenia. Dreem Inc., based in France, is a company that offers smart sleep monitors.
Major companies operating in the smart sleep monitor market are Apple Inc., Samsung Electronics Co. Ltd, Xiaomi Corporation, Nokia Inc., Koninklijke Philips NV, Garmin Ltd, ResMed Inc., Sleep Number Corporation, Fitbit LLC, Misfit Inc., Withings Corporation, Owlet Inc., Empatica Inc., Sibel Health Inc., Sleepiz AG, Eight Sleep, Early Sense Inc., Beddit Inc., Emfit Inc., Knownwell Corporation, Ultrahuman Inc., Onera Health Inc., Xsensio Inc.
North America was the largest region in the smart sleep monitor market in 2023. The regions covered in the smart sleep monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart sleep monitor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart sleep monitor market consists of sales of fitness trackers, smartwatches, sleep-tracking mattresses, and sleep monitoring pads. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Sleep Monitor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart sleep monitor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart sleep monitor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart sleep monitor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.