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Sleep Tech Devices Market Future Challenges and Industry Growth Outlook by 2020-2025

Author : Ronak Bora | Published Date : 2020-09-09 

Sleep Tech Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

In the wake of technological developments and innovations, sleep tech devices market share is teeming with robust growth. Notably, prevalence of advanced sleep tech device—wearable trackers—has resulted in immense consumer satisfaction.

An influx of sleep tech devices is highly attributed to soaring sleep disorders amid pervasive anxiety and depression being flared up by anxiety fueled stress. Further, respiratory disorders and cardiovascular disorders may lead to interrupted sleeping patterns among adults. A few studies have vouched for sleep gadgets that apparently improve the health of people inflicted with chronic ailments.

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In a bid to streamline sleep tech devices, manufacturers have come up with non-wearables, including glow lights, sleep pads, mattress which are integrated with sophisticated technology. These innate devices track sleeping patterns and give a lot of information about the slumber habits. Considering a sleep tracker tends to enhance the quality of the nocturnal hours, sleep tech devices market trends are likely to depict a major proliferation during the assessment period 2019-2025.

As per estimates, non-wearables segment is projected to expand at a robust CAGR of around 18% through 2025.

Sleep tech devices market size is envisaged to surpass US$ 25 bn by 2025, according to a new research report by GMI

Lately, there have been some significant technological strides in sleep tech devices landscape. New sleep tech products come with enhanced features and offer improved comfort levels for people suffering from chronic sleep disorders. Manufacturers are also developing devices that can effectively monitor and analyze parameters to optimize sleep patterns.

For instance, Rhythm has developed a head belt, dubbed DREEM, that monitors and enhances sleep by playing music and providing immense relaxation to users. Increased availability of next-generation devices could thus escalate sleep tech devices industry growth.

The ongoing trend of advanced wearables could significantly supplement sleep tech devices market size. According to reports, in 2018, the wearables segment accounted for more than 76% of revenue share. Basically, the segment comprises devices such as wrist bands, rings, earplug and head belt. In effect, wearables are user-friendly and offer accurate data regarding sleep patterns. Suggestively, healthcare professionals could use this data for recommending appropriate treatment to sleep disorder patients. Moreover, being cost-efficient compared to non-wearables products, the wearable devices segment may provide sizable growth to sleep tech devices makers in the coming years.

Credible reports cite that Europe sleep tech devices market accounted for more than 26% revenue share in 2018. This growth can be attributed to favorable demographic trends across the region. It is predicted that most of the elderly population in Europe suffer from chronic ailments that impact their sleep patterns. This scenario has raised the demand for advanced sleep tech devices in the region.

To counter growing prevalence of such disorders on a global scale, companies operating in the sleep tech devices industry are developing advanced warbles as well as non-warbles products. With each passing day, domestic as well as global players are entering into the market with new products which ultimately compete over the price parameter.

The major industry leaders in sleep tech devices market include Fitbit, Samsung, Xiaomi, Oura Health, and Eight Sleep, etc. These companies are actively rolling out sleep tech devices that are powered by next-gen advanced technology. Organizations are also involved in mergers and acquisitions to develop new products. For instance, in 2017, Eight Sleep introduced smart mattresses that improve sleep quality by adjusting the temperature. The development of technologically advanced products and rising competition among top industry players would thereby contribute towards global sleep tech devices market expansion over the forecast period. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/sleep-tech-devices-market

Partial Chapter of the Table of Content 

Chapter 4. Sleep Tech Devices Market, By Product

4.1. Key segment trends

4.2. Wearables

4.2.1. Market size, by region, 2014 – 2018 (USD Million)

4.2.2. Smart watches and bands

4.2.2.1. Market size, by region, 2014 – 2018 (USD Million)

4.2.3. Others

4.2.3.1. Market size, by region, 2014 – 2018 (USD Million)

4.3. Non-wearables

4.3.1. Market size, by region, 2014 – 2018 (USD Million)

4.3.2. Sleep monitors

4.3.2.1. Market size, by region, 2014 – 2018 (USD Million)

4.3.3. Beds

4.3.3.1. Market size, by region, 2014 – 2018 (USD Million)

4.3.4. Others

4.3.4.1. Market size, by region, 2014 – 2018 (USD Million)

Chapter 5. Sleep Tech Devices Market, By Gender

5.1. Key segment trends

5.2. Male

5.2.1. Market size, by region, 2014 – 2018 (USD Million)

5.2.2. <18

5.2.2.1. Market size, by region, 2014 – 2018 (USD Million)

5.2.3. 18-36

5.2.3.1. Market size, by region, 2014 – 2018 (USD Million)

5.2.4. 37-55

5.2.4.1. Market size, by region, 2014 – 2018 (USD Million)

5.2.5. >55

5.2.5.1. Market size, by region, 2014 – 2018 (USD Million)

5.3. Non-wearables

5.3.1. Market size, by region, 2014 – 2018 (USD Million)

5.3.2. 18

5.3.2.1. Market size, by region, 2014 – 2018 (USD Million)

5.3.3. 18-36

5.3.3.1. Market size, by region, 2014 – 2018 (USD Million)

5.3.4. 37-55

5.3.4.1. Market size, by region, 2014 – 2018 (USD Million)

5.3.5. >55

5.3.5.1. Market size, by region, 2014 – 2018 (USD Million)

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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