Smart Sleep Trackers Market Development Strategies and In-Depth Industry Research Report, 2023
Factors such as increasing number of sleep-related diseases, rising aged population across the globe and increase in personal disposable income of established and developing nations are likely to drive the smart sleep tracker market in the forthcoming period.
(firmenpresse) - Global smart sleep trackers market is anticipated to witness an exponential growth in the forecast period. The smart sleep tracking device, as the name suggests, tracks the sleep of an individual. It also tracks the snoring and breathing, heart rate, bedroom humidity, time asleep, and temperature.
Factors such as increasing number of sleep-related diseases such as insomnia and sleep apnea, etc., rising aged population across the globe and increasing demand for sleep examination owing to increasing incidence of sleep disorders in the adults, and increase in personal disposable income of established and developing nations such as China, U.S., India, and others are likely to drive the smart sleep tracker market in the forthcoming period.
On the other hand, high cost of smart sleep tracking devices and less acceptance of smart gadgets by emerging and small nations are anticipated to hinder market growth in the future. However, rising awareness of sleep as a health concern is likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Smart sleep trackers market could be explored by type, technology, application, distribution channel, and geography. Market could be explored by type as Non-wearable, Wearable, and Others. The “Wearable” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. Based on technology, the market could span Electro-active Polymers, Sensors, and Others.
The key applications that could be explored in the market include Home, Health Care, Commercial and Others. The “Home Health Care” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include increasing concern towards health and high demand from end users.
The smart sleep tracker market could be explored based on distribution channel as Online Stores and Offline Stores. The “Online Stores” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include increasing demand, and numerous discounts offer by online sites.
North America is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors such as extensive usage of these compact devices in the sleep apnea treatment, rising disposable income, technological advancement in the region, rapid development is believed to flourish the growth of the market in the region. In addition, the presence of foremost key players in the market and the high demand for healthcare devices. North America is followed by the European region owing to increased connectivity. Europe is followed by the Asia-Pacific region in the years to come.
Key players operating in the smart sleep trackers market include Beddit, ResMed, Withings, Emfit Oy, Fitbit, Sleepace Reston, Nokia, and Jawbone. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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