Global Smart Bed Market Size By Type (Manual, Semi-Automatic, Fully Automatic), By Components (Sensors, Automation & Controls, Software, Real-time Systems), By Applications (Home, Hospitals, Hotels) and By Region (North America, Europe, APAC, Rest of the World); Trend Analysis, Market Competition Scenario & Outlook, 2016-2026
- Published Date: August 2020
- Report ID: BWC20123
- Available Format: PDF
- Page: 167
Report OverviewThe Global Smart Bed Market size is expected to be USD 4.74 billion in 2026 from USD 1.93 billion in 2019, at a CAGR of 13.7% during the projection period between 2020 and 2026.
Global Smart Bed Market Size - Industry Trends & Outlook Report 2026
The Global Smart Bed Market size is expected to be USD 4.74 billion in 2026 from USD 1.93 billion in 2019, at a CAGR of 13.7% during the projection period between 2020 and 2026. The Global Smart Bed Market is in developing stage with tremendous growth prospects. The rising requirement of smart beds in the ever-expanding healthcare sector and the need for comfort, sound sleep and convenience are driving the growth of the market. The growing young population and rising disposable income in the urbanized area drive the demand for household smart beds across the globe. Also, the premium hotels include smart beds as a unique feature to attract more travellers or occupants to their facilities. Moreover, the advanced technologies used in the smart bed are opening up excellent growth opportunities for this market. Various governments are also supporting investment in smart beds to provide state-of-the-art healthcare.
Global Smart Bed Market: Overview
Smart beds are built with precise technical features and, are widely used in the healthcare sector to monitor the patients’ vital statistics, particularly the heart rate, and allow smooth movement of handicap patients. Medical smart beds are equipped with sensors to detect the variations and manage the patient condition. For the domestic purpose, smart beds are built with features like Wi-Fi, microphones, smart alarm and anti-snore functionality. Such beds serve as an added amenity in the hospitality sector.
Global Smart Bed Market: Growth Drivers
Rising Adoption of Smart Beds in Healthcare
Smart Beds for healthcare provides immense benefits for the intensive and continuous care of patients. Rising awareness about smart beds fuels the demand from residential as well as the medical sector for patient care across the world. Also, the healthcare segment is expanding substantially to include more smart beds in their healthcare facilities.
Demand for Increased Ease and Comfort in Developed Region
Smart beds with automated features help users sleep better and add to the overall convenience. The demand from high net worth individuals in developed regions for such comfort triggers more demand from them.
Change in Demography and Rising Disposable Income
In recent times, the proportion of the financially well-off young population has improved over time. And, this youth is quite influenced by internet-enabled gadgets and is glued to the gizmos most of the time. Such a tendency is highly entertained by the smart beds having Wi-Fi, microphones, smart alarm, etc. besides the comfort factor. Their rising disposable income also supports their desire and in turn, brightens the prospects of the market.
Global Smart Bed Market: Restraints
Lack of Manufacturing Expertise
Though the demand for smart bed is picking up globally, the manufacturing expertise is not available sufficiently to cater to the requisites of the customers. Their inadequate availability and comparatively less production rate impede market growth.
Impact of COVID-19 in Industry
The overall slowdown in economic activity is being experienced globally to more or less extent, and this market is not free from such impediments. The disruption in the production of smart beds has been caused due to insufficient labor or regular working hours and manufacturing material supply. But as restrictions on transport and human movements are eased, the regular production is catching momentum. On the demand side, the pervasiveness of COVID-19 has resulted in augmented investment in healthcare facilities leading to more demand for smart beds to cater to the growing number of patients of Corona. Therefore, seamless production is also being supported in every possible manner.
Global Smart Bed Market: Segmentation
Global Smart Bed Market is segmented by Type into Manual, Semi-Automatic and Fully-Automatic, by Components into Sensors, Automation, Controllers and Software, by End-Users into Residential, Hospitals and Premium Hotels. The semi-automatic smart beds are expected to capture the highest market share as usual during projection period. By component, the smart beds with sensors are likely to witness a substantial growth due to its increasing demand in healthcare. Based on End-User, the healthcare sector is the biggest user of smart beds and will continue to lead the market during the projection period. The residential end-user segment is also expected to exhibit the highest CAGR during the forthcoming period.
Global Smart Bed Market: Regional Insights
North America dominates the Global Smart Bed Market due to its quick implementation of advanced technology and, is expected to hold the significant market share in the projection period 2020-26. The Asia Pacific region follows it, and its growth is mainly attributable to the rising adoption of IoT, increased support from government and rising disposable income. Moreover, the innovations by market players in China, Korea and Japan are enhancing the smart bed market growth in this region. Europe is also expected to register accelerated growth during the projected period.
The leading players in this market are Stryker Corporation (US), Hill-Rom Holdings Inc (US), Getinge AB (Sweden), Paramount Bed Holdings (Japan), The BodiTrak (Canada), Invacare Corporation (US), Responsive Surface Technology (US) BAM Labs (US), Sleep number (US), ArjoHuntleigh AB and others. The prevalence of pandemic has led to a tremendous demand for smart beds worldwide.
Ø January 6, 2020: Sleep Number unveils award-winning innovations at CES 2020 with advanced temperature technology. The smart beds are designed to work seamlessly with an individual’s sleep cycle.
Ø December 2, 2019: Xiaomi launches smart electric water-resistant bed with a dual motor mechanism. It can be regulated with the help of buttons and voice controls.
Scope of the Report:
Historical data – 2016-2018
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia .
By Type, By Components, By Applications and By Region.
Stryker Corporation (US), Hill-Rom Holdings Inc (US), Getinge AB (Sweden), Paramount Bed Holdings (Japan), The BodiTrak, Invacare Corporation, Responsive Surface Technology, BAM Labs, Sleep number, ArjoHuntleigh AB and Others.
Ø Fully Automatic
Ø Automation & Controls
Ø Real-Time Systems
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and estimate the Global Smart Bed market size, in terms of value.
Ø To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Global Smart Bed market into five regions, namely, North America, Europe, Asia Pacific, Rest of the World and their leading countries.
Ø To outline, categorize and project the Global Smart Bed market based on the Type, Application, Components and Region.
Ø To examine competitive developments in applications, technology and diverse industry usage within the Global Smart Bed Market.
Ø To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.
Business Questions Answered by the Report:
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client:
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
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