Sleep Tech Devices Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 16.80% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Sleep Tech Devices Market Analysis
The Sleep Tech Devices Market is expected to register a CAGR of 16.8% during the forecast period.
The major factors driving the market growth include the increasing prevalence of sleep disorders and the rising technological advancements in sleep tech devices.
The growing number of sleep disorders and recorded cases worldwide are expected to accelerate the market growth over the forecast period. For instance, according to the report published by the American Sleep Association (ASA) in January 2022, around 50.0 to 70.0 million adults in the United States suffer from sleep disorders every year. It also reported that each year, around 30.0% to 40.0% of adults have symptoms of insomnia at some stage in their lifetime. Furthermore, it also noted that sleep disorders represent some of the most challenging medical conditions and affect 1 out of 3 people at some stage of their lives.
Similarly, in May 2022, Sleep Disorders Facts and Statistics showed that the prevalence of sleep disorders in the United States is high, with 50-70 million adults impacted by lack of sleep. Thus, the high prevalence of sleep disorders is expected to increase the demand for sleep tech devices, boosting market growth over the forecast period.
Furthermore, key players' rapid technological advancements and strategic activities are expected to fuel market growth. For instance, in July 2022, Telli Health launched its first cellular-enabled sleep monitor mat, which measures overall sleep, sleep time, heart rate, sleep cycles (deep, light, and REM), interruptions, sleep latency, and waking. Similarly, in February 2022, Redmi launched the Redmi Smart Band Pro, with features such as an AMOLED display and 50 meters of water resistance. In addition, it has a heart rate monitor and a SpO2 sensor that enable blood oxygen monitoring and sleep monitoring. Therefore, the new product launches increase the usage of these sleep tech devices, thereby boosting the market growth over the study period.
Hence, due to the increase in the prevalence of sleep disorders and the rise in product launches coupled with technological advancements, the studied market is anticipated to grow over the analysis period. However, the high cost of sleep tech devices will likely restrain the market growth.
Sleep Tech Devices Market Trends
Smart Watches and Bands Segment Is Expected to Hold a Significant Share of the Sleep Tech Devices Market Over the Forecast Period
The smartwatches and bands segment is expected to hold a significant market share in the sleep tech devices market owing to the increasing awareness of technologically advanced products such as smartwatches and bands among people and the rise in a sedentary lifestyle. Smartwatches and bands are the most commonly used wearable devices that help individuals track their sleeping patterns and health information, such as blood oxygen level, heart rate, body temperature, and blood pressure.
Furthermore, various technological updates introduced by the key players in smartwatches for tracking sleep are expected to drive market growth. For instance, in December 2022, Mobvoi updated its TicWatch companion app, enhancing its sleep-tracking capabilities. With this update, TicWatch users gained many new features, including a fresh set of sleep-aid tunes, daily sleep reports, insights into weekly and monthly sleep trends, nap monitoring, and additional functionalities.
Moreover, the continuous product launches of smartwatches and bands are surging the market growth. For instance, in April 2023, Earable Neuroscience strategically partnered with Excelpoint, a prominent electronics distributor. In this collaboration, Excelpoint assumes the role of the exclusive procurement partner, with a clear goal: to expedite the market debut of Earable's cutting-edge wearable sleep device, the FRENZ Brainband. Such partnerships help increase the availability of sleep bands, thereby boosting segment growth.
Hence, due to the increase in product launches and rapid technological advancements in smartwatches and bands, the studied segment is anticipated to grow over the analysis period.
North America Anticipated to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share in the sleep tech devices market owing to the rising product launches, presence of key players, rapid technological advancements, and the higher prevalence of sleeping disorders.
The geriatric population is at higher risk of insomnia. According to the report published by the Sleep Foundation Organization in May 2022, around 35.2% of all adults in the United States reported sleeping on average for less than seven hours per night. Hence, such factors are anticipated to impact the market growth in this region positively.
Key product launches, the high concentration of market players or manufacturers' presence, and the high prevalence of sleep disorders in the United States are some of the factors driving the growth of the sleep tech devices market in the country. For instance, according to the American Sleep Apnea Association, in 2044, around 33% of Americans said their sleep was poor in 2022. Therefore, the country's high prevalence of sleep disorders is expected to surge the market growth over the forecast period.
Furthermore, government support for sleep research is expected to promote market growth over the forecast period. For instance, according to the June 2022 update by Statistics Canada, the Ministry of Health funded USD 3.8 million to support research on sleep health and insomnia. The Government of Canada supported this initiative through the Canadian Institutes of Health Research (CIHR) in partnership with Eisai Limited and Mitacs. Thus, North America is anticipated to witness growth over the analysis period due to the increase in sleep disorders and government investment coupled with product launches.
Sleep Tech Devices Industry Overview
The sleep tech devices market is semi-consolidated. The leading players deploy numerous strategic initiatives, including competitive pricing strategies, partnerships, product expansions, sales and marketing initiatives, and mergers and acquisitions. Some of the key players in the market include Eight Sleep, Casper, Compumedics, Sleep Shepherd, Sleepace, Xiaomi, Oura Health, and Nihon Kohden Corporation, Inc., among others.
Sleep Tech Devices Market Leaders
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Casper
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Compumedics Limited
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Huawei Technologies Co., Ltd.
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Nihon Kohden Corporation
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Koninklijke Philips N.V.
- *Disclaimer: Major Players sorted in no particular order
Sleep Tech Devices Market News
- In June 2024, Samsung planned to launch its Galaxy Ring in August 2024 in India. This finger-worn wearable device tracks sleep, monitors heart rate, etc.
- In June 2024, Wakefit launched Artificial Intelligence-powered sleep solutions in India. The company aims to integrate technology into the sleep environment to optimize sleep quality and health.
Sleep Tech Devices Industry Segmentation
As per the scope of the report, sleep tech devices are designed to monitor and improve the outcome in patients with sleep disorders such as sleep apnea, insomnia, narcolepsy, etc.
The sleep tech devices market is segmented by product, end users, and geography. By product, the market is segmented into wearables and non-wearables. By wearables, it is segmented into smart watches and bands, and other wearables. By non-wearables, it is segmented into sleep monitors, beds, and other non-wearables. By end users, the market is segmented into hospitals, homecare settings, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the market size in value terms in USD for all the abovementioned segments.
| By Product | Wearables | Smart Watches and Bands | |
| Other Wearable Products | |||
| Non-Wearables | Sleep Monitors | ||
| Beds | |||
| Other Non-Wearable Products | |||
| By End User | Hospitals | ||
| Homecare Settings | |||
| Other End Users | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| Japan | |||
| India | |||
| Australia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Middle East and Africa | GCC | ||
| South Africa | |||
| Rest of Middle East and Africa | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
Sleep Tech Devices Market Research FAQs
What is the current Sleep Tech Devices Market size?
The Sleep Tech Devices Market is projected to register a CAGR of 16.80% during the forecast period (2025-2030)
Who are the key players in Sleep Tech Devices Market?
Casper, Compumedics Limited, Huawei Technologies Co., Ltd., Nihon Kohden Corporation and Koninklijke Philips N.V. are the major companies operating in the Sleep Tech Devices Market.
Which is the fastest growing region in Sleep Tech Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Sleep Tech Devices Market?
In 2025, the North America accounts for the largest market share in Sleep Tech Devices Market.
What years does this Sleep Tech Devices Market cover?
The report covers the Sleep Tech Devices Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Sleep Tech Devices Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Sleep Tech Devices Industry Report
Statistics for the 2025 Sleep Tech Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sleep Tech Devices analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
