Global Smart Bed Market- (By Product Type – Manual, Semi-automatic and fully-automatic; By End User – Residential, healthcare, hospitality, and others; By Distribution Channel – Offline and Online; and By Region) - Industry Dynamics, Market Size and Opportunity Forecast, 2027
- Published On: 24-Jan-2022 | Format:
| Report ID: AA0122124
Delivery: 2 to 4 Hours
The Global Smart Bed Market was valued at US$ 5,273.3 Mn in 2021 and is projected to reach US$ 8,859.9 Mn by 2027. The market is expected to register a CAGR of 8.7% during the forecast period 2022-2027. Smart Bed integrates advanced amenities with technology that allows for comfortable changes and connectivity while sleeping. Sleep tracking, automatic mattress firmness adjustment, climate control, smart fabric technology, adjustable bases, anti-snoring feature, IoT, and smart home connectivity are just a few features of a smart Bed.
The Global Smart Bed Market has majorly driven increasing adoption of smart and advanced technology, increasing demand of senior citizens’ health care needs, rising demand for comfort, luxury, and personalized experience, and increasing awareness related to the importance of good sleep. Moreover, smart Bed help in reporting real-time patient safety information to a status board through nurse call. Patient lifts and patient monitoring equipment all connect and communicate together to accelerate patient recovery and simplify clinical communication. However, the high price of smart beds acts as a major restraint in the market growth.
Report Summary
The study of the global smart Bed market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the smart bed industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Global Smart bed Market across 14 Chapters and, 166 pages. The report includes data presentation across 30 tables and 76 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the threat of substitutes and bargaining power of buyers is high.
The subsequent section provides details of the market analysis based on different segments such as product type, end-user, distribution channel, and region. The report includes a detailed study of the value chain of the industry. It includes raw material suppliers, smart bed manufacturers, distributors, and end-users. The report also covers extensively the key competitors in the Global Smart bed Market along with a SWOT analysis for each company.
Key Takeaways from the Global Smart Bed Market Report
- The Global Smart Bed Market was valued at US$ 5,273.3 Mn in 2021 and is projected to reach US$ 8,859.9 Mn by 2027.
- Semi-automatic beds hold 36.3% of the market share in 2021. The increasing adoption of semi-automatic beds is observed largely in the healthcare sector.
- By end-user, residential contributes the highest share in 2021. However, the CAGR of the hospitality segment is estimated to be the fastest during the forecast period.
- The offline distribution channel holds the highest share as most of the smart beds delivered especially in the residential sector are not courier friendly hence the buyers prefer to buy it from the offline stores wherein the safe delivery of the product is ensured.
- The Asia Pacific is expected to grow at the fastest annual compound rate during the forecast period.
- Key players in the global smart bed market are Paramount Bed Co. Ltd., Stryker, Invacare Corporation, Hill- Rom Holdings, Inc., Arjohuntleigh AB, Ergomotion Inc., and Hilding Anders among others.
Impact of COVID-19
Smart Bed falls under the essential commodities during COVID-19, with high demand due to its supportive features that help in the treatment of COVID patients. Smart Bed turned out to be a lifesaver in many cases where the hospital was able to identify deteriorating cases faster using the Bed. Smart Bed helps healthcare staff by monitoring patients by maintaining a safe distance- which is required in the case of COVID-19 and on-time alarm notification is helping to save many lives. Hence, with major application in treating COVID-19 patients, the market witnessed substantial growth even during the time of crisis. However, smart beds for residential and other sectoral purposes have witnessed a dip during COVID-19.
Competitive Landscape
- Paramount Bed Co. Ltd. is engaged in the manufacturing and sale of beds for medical use and welfare. It is also involved in the manufacture and sale of mattresses, furniture for hospital room uses, medical equipment and fixtures, the inspection, repair, sterilization, maintenance, and leasing of bed and mattresses, the rental and wholesale of welfare equipment.
- Stryker is a medical technology company, which provides innovative products and services in orthopedics, medical and surgical, neurotechnology, and spine. It develops, manufactures, and markets specialty surgical and medical products.
- Invacare Corporation is an American manufacturer and distributor of non-acute medical equipment. The products include wheelchairs, mobility scooters, walkers, pressure care and positioning, as well as respiratory products.
- Hill-Rom Holdings, Inc. is a global medical technology company. The company support innovations in the following areas: Advancing Mobility, Wound Care and Prevention, Patient Monitoring and Diagnostics, Surgical Safety and Efficiency, and Respiratory Health.
- Ergomotion Inc. is the manufacturer of adjustable beds and furniture. The company is one of the largest and most advanced adjustable bed base manufacturers worldwide due to the use of robotics and welding to ensure consistency.
- Hi-Interiors SRL is the Italian startup that invented the first smart bed ever conceived. This privately handled company is involved in accelerating the internet of furniture to provide a better quality of life to its customers.
Segmentation Overview of the Global Smart Bed Market
Following are the different segments of the Global Smart Bed Market: -
By Product Type Segment of the Global Smart Bed Market is Sub-Segmented into:
- Manual
- Semi-automatic
- Fully automatic
By End User Segment of the Global Smart Bed Market is Sub-Segmented into:
- Residential
- Healthcare
- Hospitality
- Transportation
- Others
By Distribution Channel Segment of the Global Smart Bed Market is Sub-Segmented into:
- Offline
- Brand Stores
- Home Centers
- Online
By Region Segment of the Global Smart Bed Market is Sub-Segmented into:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Italy
- Russia
- Spain
- Poland
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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REPORT SCOPE
| Report Attribute | Details |
|---|---|
| Market Size Value in 2021 | US$ 5,273.3 Mn |
| Expected Revenue in 2027 | US$ 8,859.9 Mn |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Unit | Value (USD Mn) |
| CAGR | 8.7% |
| Segments covered | By Product Type, End-User, Distribution Channel, and region |
| Key Companies | Paramount Bed Co. Ltd., Stryker, Invacare Corporation, Hill-Rom Holdings Inc., and other prominent players. |
| Customization Scope | Get your customized report as per your preference. Ask for customization |
FREQUENTLY ASKED QUESTIONS
Smart beds are advanced beds that allow users automatically adjust the settings of the beds according to users’ comfort. Smart beds integrate advanced amenities with technology that allows for comfortable changes and connectivity while sleeping.
Sleep tracking, automatic mattress firmness adjustment, climate control, smart fabric technology, adjustable bases, anti-snoring feature, IoT, and smart home connectivity are just a few of the features accessible.
Global Smart Beds Market is projected to record revenue from US$ 5,273.3 Mn in 2021 to US$ 8,859.9 Mn by 2027, registering a CAGR of 8.7% during the forecast period 2022-2027.
The end users in the smart beds market are healthcare, hospitality, residential, and transportation users among others.
In the smart world, through increased connectivity, instant communication, and established infrastructure systems, novel ideas and products can grow at rapid speeds – and this enables fast adoption of technically advanced products. Smart beds are advanced technology with a major scope in smart homes and hospitals due to their different features and offerings, as per the end-use.
Smart beds helps in reporting real-time patient safety information to a status board through nurse call. Further, patient lifts and patient monitoring equipment all connect and communicate together to accelerate patient recovery and simplify clinical communication. Thus, hospitals are integrating the technologies that help to deliver the capabilities as per requirement need.
With the rapid rise in the senior citizens’ population, people are focusing more on their needs, striving for more convenient and comfortable lifestyle to ease their life. Considering that people are spending most of the time in bed, smart beds have gradually attracted people’s attention. Thus, there is a positive relationship between rising number of senior citizens and the adoption of smart beds.
As per the Centers for Disease Control and Prevention), one in three adults do not get adequate sleep. Lack of sleep is causing a loss of billion dollars to countries in the form of health issues and lost productivity. Smart bed technology is giving people access to digital tools that provide valuable information about their well-being and thereby helping them to resort to a sound sleep.
High price of smart beds act as a major restraint in the market growth. Also, Smart beds are part of a multitude of new internet of things-connected home appliances–some of which have been criticized for failing to deliver good UX while overemphasizing data.
Smart beds falls under the essential commodities during COVID-19, with high demand due to its supportive features that helps in treatment of COVID patients. Smart beds turned out to be a lifesaver in many cases where the hospital was able to identify deteriorating cases faster using the beds. Smart beds help healthcare staff by monitoring patients by maintaining a safe distance- which is required in case of COVID-19 and on-time alarm notification is helping to save many lives.
Semi-automatic type holds the highest market share of 36.3% of the Global Smart Beds Market share in 2021 and is expected to continue its dominance till 2027.
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 2022-2027.
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
