Smart Bed Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Smart Bed Market Analysis
The Global Smart Bed Market Market is expected to register at a CAGR greater than 7% during the forecast period.
Smart beds allow users to modify the mattress's firmness and cool or heat the bed. These beds are connected with smartphones to access their various features. The size of the sleep economy globally is observing continuous growth, existing at USD 518 billion last year, and is encouraging businesses to make innovations in the bedding segments to reap the existing benefits of the growing market.
With the advent of COVID-19, the demand for smart beds from the hotel segment observed a decline as there was a significant decline in hotel occupancy. In line with this, critical care bed occupancy observed an increase in smart bed sales to the hospital industry. Since COVID-19, total consumer spending has continuously grown, creating opportunities for intelligent bed players to expand their businesses.
United States are among the country observing a significant rise in market share of Information and Communication Technology (ICT), which is making intelligent bed manufacturing in the United States equipped with more advanced features and raising their product demand globally. Wise mattress revenue size in North America was existing at USD 1,028 Billion last, making it a global leader in the segment.
Smart Bed Market Trends
GLOBAL CONSUMER SPENDING ON TECH SIGNALS OPPORTUNITY FOR THE SMART BED INDUSTRY
Intelligent automation over the period has created a new pathway for achieving sustainable economies and energy transition in healthcare, manufacturing, and even logistics. People worldwide are observing a continuous loss in sleep year by year, which raises the need to develop smart tools in the bedding industry to monitor and improve sleeping patterns.
Global consumer spending in tech had observed a continuous rise globally, existing at USD 505 billion last year, signaling the bedding industry to invest more in digital technology with rising market opportunities. Upcoming smart beds are equipped with sleep tracking technology, firmness adjustment, IOT, and built-in alarms, making them a rising choice of consumers.
GROWING HOSPITAL AND HOTEL INDUSTRY DRIVING THE MARKET
The number of hospitals globally is observing a continuous increase, existing at 163.5 thousand last year. This increase is leading to a rise in demand for an increasing number of beds. With rising revenue and competition among the hospitals, the industry is equipping itself with smart beds to provide more comfort and facility to the patient.
Luxury hotels exist among the significant segments creating demand for smart beds; the market share of intelligent hospitality is observing a continuous increase globally, living at USD 19 Billion last year, which is leading innovative bed manufacturers to develop their products in line with the demand of the hotel industry as well.
With these trends, there is a rising opportunity for innovative bed manufacturers in different sectors.
Smart Bed Industry Overview
The report covers the major players operating in the Global Smart Bed market. The market is fragmented as new players are emerging with new and innovative technology-designed products. The market is expected to grow in the forecast period due to the increasing importance of the sleep economy and the rising demand for luxury and leisure products. The existing players in smart bed manufacturing are Stryker Corporation, Invacare Corporation, Hill Rom Holdings Inc., Ultimate Smart Bed, Hi-Interiors SRL, etc.
Smart Bed Market Leaders
Hi-Interiors Srl
Hill-Rom Holding
Johnson & Johnson
Paramount Bed Holding
Invacare Corporation
*Disclaimer: Major Players sorted in no particular order
Smart Bed Market News
- January 2022: The Sleep Company, Asia’s SmartGRID technology pioneer and advocate of the sleep-tech movement, launched its transformative innovations - the ‘Elev8 Smart Adjustable Bed Frame’ and the ‘Smart Ortho Hybrid Pocketed Spring Mattress.’ The products are equipped with unique features of zero gravity mode for balanced body comfort, TV mode, and a dual-zone massager for deep relaxation.
- March 2022: Mercedes-AMG Petronas F1 partnered with Eight Sleep. In the partnership, the mattress developer and manufacturing brand will be supplying Mercedes drivers and team members with its signature innovative mattress and temperature-controlled bedding products, with the team offering a package of promotional platforms and marketing opportunities to Eight Sleep.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Expanding Hotel and Hotel Industry creating demand for smart bed
4.2.2 Rising demand for Tech enabled products
4.3 Market Restraints
4.3.1 Lack of Fully developed market structure and sales channel
4.3.2 Fluctuation in raw material cost of electronics products
4.4 Market Opportunities
4.4.1 Prioriting of sleeping behaviour resulting in an increase of consumer spending for smart bed.
4.4.2 Rise in sleep economy globally creating a positive signal for smart bed manufacturer
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Latest Technological Innovations and Recent Trends in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Manual
5.1.2 Semi-Manual
5.1.3 Fully Automatic
5.2 By Application
5.2.1 Residential
5.2.2 Healthcare
5.2.3 Hospitality
5.2.4 Transportation
5.2.5 Others
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 By Geography
5.4.1 North-America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Middle East and Africa
5.4.5 South America
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Paramount Bed Co. Ltd
6.2.2 ReST
6.2.3 Sleep Number Corporation
6.2.4 Ascion LLC
6.2.5 Hi-Interior SRL
6.2.6 Invacare Corporation
6.2.7 Stryker Corporation
6.2.8 Hill Rom Holdings
6.2.9 The Bodi Trak
6.2.10 Eight Sleep*
- *List Not Exhaustive
7. MARKET OPPORTUNITY AND FUTURE TRENDS
Smart Bed Industry Segmentation
A smart bed is a bed that uses sensors and other technologies for gathering data about the sleep. It uses this information to self-adjust and improve the sleep of the user. The smart bed industry is still in its infancy, with continuous development and innovation of features in the product.
Global Smart Bed Market is segmented by product type (manual, semi-automatic, fully automatic), by application (residential, healthcare, hospitality, transportation, and other), by distribution channel (online, offline), and by geography (North America, Europe, Asia-Pacific, Middle East & Africa, South America). The report offers market size and values in (USD) for the above segments during the forecast period.
Frequently Asked Questions
What is the current Smart Bed Market size?
The Smart Bed Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Smart Bed Market?
Hi-Interiors Srl, Hill-Rom Holding, Johnson & Johnson, Paramount Bed Holding and Invacare Corporation are the major companies operating in the Smart Bed Market.
What years does this Smart Bed Market cover?
The report covers the Smart Bed Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Smart Bed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Smart Bed Industry Report
Statistics for the 2024 Smart Bed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Bed analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
