Smart Bed Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

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