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Smart Bed Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Smart Bed Market: By Product Type (Manual, Semi-automatic and fully-automatic); End User (Residential, healthcare, hospitality, and others); Distribution Channel (Offline and Online); and Region—Industry Dynamics, Market Size and Opportunity Forecast Until 2031

  • Published Date: 28-Mar-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0122124  | Delivery: 2 to 4 Hours
INFOGRAPHIC:
Smart Bed Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2022US$ 5,706.2 Mn
Expected Revenue in 2031US$ 12,397.5 Mn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
CAGR8.7% 
Segments coveredBy Product Type, By End-User, By Distribution Channel, By region
Key Companies                                                          Paramount Bed Co. Ltd., Stryker Corporation, Sleep Number, Invacare Corporation, Hill Rom Holdings Inc., Arjohuntleigh AB, Ergomotion, Inc., Responsive Surface Technology LLC, Hi-Interiors SRL, Hilding Anders, Other Prominent Players
Customization ScopeGet your customized report as per your preference. Ask for customization

FREQUENTLY ASKED QUESTIONS

Smart beds are advanced beds that allow users to automatically adjust the settings according to their comfort. These beds integrate cutting-edge amenities with technology, enabling comfortable adjustments and seamless connectivity during sleep.

Sleep tracking, automatic mattress firmness adjustment, climate control, smart fabric technology, adjustable bases, anti-snoring features, IoT, and smart home connectivity are just a few of the available options.

The global Smart Beds Market is projected to increase its revenue from US$ 5,706.2 million in 2022 to US$ 12,397.5 million by 2031, registering a CAGR of 8.7% during the forecast period of 2023-2031.

The end users in the smart beds market include healthcare, hospitality, residential, and transportation sectors, among others.

In the smart world, increased connectivity, instant communication, and established infrastructure systems enable rapid growth of novel ideas and products, leading to the swift adoption of technologically advanced products. Smart beds, equipped with advanced technology, have significant potential in smart homes and hospitals, given their diverse features and offerings tailored to various end-users.

Smart beds assist in reporting real-time patient safety information to a status board via nurse call systems. Additionally, patient lifts and monitoring equipment connect and communicate with each other to expedite patient recovery and streamline clinical communication. As a result, hospitals are integrating technologies that deliver capabilities tailored to their specific needs

With the rapid increase in the senior citizen population, there is a growing focus on catering to their needs, aiming for a more convenient and comfortable lifestyle to ease their lives. Considering that people spend a significant portion of their time in bed, smart beds have gradually gained attention. As a result, there is a positive correlation between the rising number of senior citizens and the adoption of smart beds.

According to the Centers for Disease Control and Prevention, one in three adults do not get adequate sleep. This lack of sleep results in billions of dollars in losses for countries due to health issues and decreased productivity. Smart bed technology offers people access to digital tools that provide valuable information about their well-being, thereby helping them achieve a sound sleep.

High prices of smart beds act as a major restraint in market growth. Additionally, smart beds are part of a multitude of new Internet of Things (IoT)-connected home appliances, some of which have been criticized for failing to deliver a satisfactory user experience while overemphasizing data.

Smart beds were considered essential commodities during the COVID-19 pandemic, with high demand due to their supportive features that aided in the treatment of COVID patients. In many cases, smart beds proved to be lifesavers, as hospitals could identify deteriorating patients more quickly using these beds. By enabling healthcare staff to monitor patients while maintaining a safe distance—crucial during the COVID-19 crisis—and providing timely alarm notifications, smart beds have helped save numerous lives.

Semi-automatic type holds the highest market share of 36.3% of the Global Smart Beds Market share in 2022 and is expected to continue its dominance till 2031. 

In terms of end user, the residential sector accounts for highest market share of more than 50% in the smart bed market, owing to the growing trend of smart houses and implementation of luxurious technology in the houses.

Online segment contributes for the fastest CAGR of 9.8% during the forecast period.

Asia Pacific is projected to grow at the highest CAGR of 10.8% during the forecast period 2023-2031.

The key market players are Paramount Bed Co. Ltd., Stryker, Invacare Corporation, Hill-Rom Holdings, Inc., Arjohuntleigh AB, Ergomotion Inc., and Hilding Anders among others

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