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Smart Bed Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMCG21674

Download Sample Report
Published On

January 2022

Total pages

237

About the Report

With the increasing number of senior citizens, the quality of their life arises more attention. Smart beds can be used as intelligent tools to ease their life. Besides, user-oriented care becomes more dominant recently in the healthcare industry, especially for the elderly. Nearly 60 billion hours of sleep are consumed every day on average. As per National Center for Biotechnology Information, in a normal sleep period, a person experiences four to six sleep cycles. Chronic sleep loss or sleep disorders may result in an annual cost of billions worldwide in health care expenses and lost productivity.
Also, the rising prevalence of insomnia disease globally is leading to a greater demand for smart beds. As per NCBI, Various studies worldwide have shown the prevalence of insomnia in 10%-30% of the population, some even as high as 50%-60%. It is common in older adults, females, and people with medical and mental ill-health. Moreover, the cost of bad sleep in the U.S., Canada, UK, Germany, and Japan is USD 411, 21.4, 50, 60, and 138 bn respectively.
A rise in disposable income coupled with the surging spending on furniture and bedding globally is leading to the growth of the market. As per Statista, In 2021, consumer spending on furniture and bedding sales were forecast to reach 119.8 billion U.S. dollars, five percent more than 2019, where the sales amounted to 114.5 billion dollars. By 2025, it was projected that nearly 22 billion U.S. dollars would be spent on stationary sofas and sofa sleepers in the United States.
Moreover, the demand for smart beds is emerging from the hospitality sector. A rise in the number of tourists across the globe is leading to the growing number of the hotel room, which is positively impacting the global smart beds market. As per the World Bank, the number of international tourists reached 2.28 billion in 2019, up from 1.96 billion in 2015. The number of international departures more than doubled between 1997 and 2017, from 687 million to 1.57 billion per annum. Moreover, the number of hotel rooms globally had risen by 17.7% since 2008 to 17 million in 2018. These rooms were in more than 184,000 hotels, a rise of 8.4% from 2008 levels. The fact that the rate of expansion in the number of rooms is more than double the rate of expansion of hotels indicates that the average hotel size has been growing.
Based on type, the market is fragmented into Manual, Semi-Automatic, and Automatic. The manual segment grabbed the major market share in 2020 and dominated the market. The low cost of manual beds as compared to automatic and semi-automatic beds is one of the prominent factors which is driving the demand. However, the emerging disposable income of the end-users would lead the automatic and semi-automatic segment to grow in the forthcoming years.
Based on the application, the market is fragmented into Healthcare, Hospitality, Residential, and Others. The residential segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The trending concept of smart homes and smart cities are boosting the demand for smart beds from the residential sector.
Based on the sales channel, the market is fragmented into supermarkets/hypermarkets, Online Stores, Specialty Stores, and Others. The specialty store segment grabbed XX% market share and captured USD XX Mn market in 2020. However, the online store segment would witness the robust CAGR during the forthcoming years
For a better understanding of the market adoption of the Smart Bed Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. North America constitutes a major market for the Smart Bed Market industry and generated revenue of USD XX Million in 2020 owing to the emerging demand for smart beds from the healthcare sector in the region.
Some of the major players operating in the market are ArjoHuntleigh AB, BodiTrak, Hi-Interiors SRL, Hill Rom Holdings Inc, Invacare Corporation, Joerns Healthcare LLC, LINET spol. s r.o., Paramount Bed Co.Ltd, Sleep Number Corporation, Stryker Corporation, etc. Several M&As along with partnerships have been undertaken by these players to develop Smart Bed across the globe

Scope of the Report

Products

With the increasing number of senior citizens, the quality of their life arises more attention.

Companies

ArjoHuntleigh AB, BodiTrak, Hi-Interiors SRL, Hill Rom Holdings Inc, Invacare Corporation, Joerns Healthcare LLC, LINET spol. s r.o., Paramount Bed Co.Ltd, Sleep Number Corporation, Stryker Corporation

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Smart Bed Market

2.2. Research Methodology of the Smart Bed Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Smart Bed Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL SMART BED MARKET COVID-19 IMPACT

6 GLOBAL SMART BED MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. Manual

7.2. Semi-Automatic

7.3. Automatic

8 MARKET INSIGHTS BY APPLICATION

8.1. Healthcare

8.2. Hospitality

8.3. Residential

8.4. Others

9 MARKET INSIGHTS BY SALES CHANNEL

9.1. Supermarket/hypermarket

9.2. Online Stores

9.3. Specialty Stores

9.4. Others

10 MARKET INSIGHTS BY REGION

10.1. North America Smart Bed Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Smart Bed Market

10.2.1. United Kingdom

10.2.2. Germany

10.2.3. France

10.2.4. Italy

10.2.5. Spain

10.2.6. Rest of Europe

10.3. Asia Pacific Smart Bed Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. South Korea

10.3.6. Rest of Asia Pacific

10.4. Rest of World Smart Bed Market

11 SMART BED MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 SMART BED MARKET OPPORTUNITIES

13 SMART BED MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. ArjoHuntleigh AB

18.2. BodiTrak

18.3. Hi-Interiors SRL

18.4. Hill Rom Holdings Inc

18.5. Invacare Corporation

18.6. Joerns Healthcare LLC

18.7. LINET spol. s r.o.

18.8. Paramount Bed Co.Ltd

18.9. Sleep Number Corporation

18.10. Stryker Corporation

19 DISCLAIMER

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