Smart Bed Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[217+ Pages Report] According to Facts & Factors, the global smart bed market size was valued at USD 2.74 billion in 2023 and is predicted to surpass USD 3.86 billion by the end of 2032. The smart bed industry is expected to grow by a CAGR of 3.90% between 2024 and 2032.

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Market Overview

Smart bed refers to the advanced sleeping bed system that improves sleep quality and comfort according to the needs of the individual. These sophisticated bedding systems are well integrated with AI and IoT technologies to offer advanced functionalities. Smart beds facilitate sleep tracking and monitoring features as these bedding systems are very well equipped with modern sensors to monitor heart rate, sleep patterns, and body movements.

Moreover, individuals can adjust their firmness and support according to their personal preferences. Also, these offer smart connectivity, which facilitates remote control systems and compatibility with virtual assistants like Google Assistant and Alexa.

Key Insights

• As per the analysis shared by our research analyst, the global smart bed market size is estimated to grow annually at a CAGR of around 3.90% over the forecast period (2024-2032).
• In terms of revenue, the global smart bed market size was valued at around USD 2.74 billion in 2023 and is projected to reach USD 3.86 billion by 2032.
• Growing awareness regarding sleep health is driving the growth of the global smart bed market.
• Based on sales channels, the B2C segment is growing at a high rate and is projected to dominate the global market.
• Based on distribution channels, the offline channel segment is anticipated to grow with the highest CAGR in the global market.
• Based on applications, the residential segment is projected to swipe the largest market share.
• Based on region, North America is expected to dominate the global market during the forecast period

Growth Drivers

• Growing awareness regarding sleep health is driving the growth of the global market.

There is an increasing awareness and education among people regarding the importance of qualitative sleep in maintaining their overall health, which is a major factor driving the growth of the global smart bed market. Smart beds offer health monitoring capabilities and thereby improve the overall comfort of smart beds.

The COVID-19 pandemic has a deep influence on people's minds, which is further driving them to focus on their overall lifestyle and increase their spending on health-associated products. People are nowadays prioritizing their comfort and well-being products like smart beds, which is expected to foster developments in the industry in the coming years. Smart beds with advanced technologies and sensors help individuals maintain their overall health.

However, technological advancements like the integration of AI, IoT, and machine learning are further improving the functionality of these smart beds. Also, the fast proliferation of smart home devices all across the globe is another favorable factor facilitating the widespread adoption of smart beds.

However, the rapidly increasing aging population is fueling the demand for healthcare and elderly care products like smart beds in the market. For instance, Corsicana Mattress Co. collaborated with Retail Service System (RSS) in 2021 to come up with Sleep2win smart beds to provide preferred sleep patterns.

Restraints

• High initial cost is likely to hamper the growth of the global market.

Smart beds are quite expensive, which makes them less appealing to people with budget constraints. Also, the limited education among people regarding the benefits of smart beds is further expected to negatively impact the growth of the industry. People in rural areas view these as luxurious products instead of finding them as basic essentials, which further slows down the growth of the smart bed industry.

Opportunities

• Fast expanding healthcare sector is expected to foster growth opportunities in the global market.

The fast-growing healthcare sectors all across the globe are supporting the adoption of smart beds in residences, hospitals, and healthcare facilities. Advancements in technology offer personalized comfort and convenience in smart beds like zone support, control, and many others, which further appeal to consumers. The rising trend of focusing on the environment and sustainability further strengthens consumer demand for products like a smart bed. The ongoing investments by key players are also likely to widen the scope of the industry.

Partnerships and collaborations with healthcare institutes are also facilitating the innovation of advanced smart home technologies, which will further drive the growth of the global smart bed market. Features like real-time data tracking, automatic adjustments, and other health-metric monitoring find immense value in medical settings.

For instance, Sleep Number introduced a new Climate360 smart bed in 2022. The product has all-new features like temperature control and a smart adjustable base.

Challenges

• Data privacy is a big challenge in the global market.

Smart beds with connectivity features pose a danger of privacy issues, which is expected to emerge as a major challenge in the smart bed industry. Also, the misuse of consumers' personal information further deters consumers from adopting these products. Additionally, the entry-level economical model does not offer enough features, which further reduces their demand in the market.

Report Scope

Report Attribute	Details
Market Size in 2023	USD 2.74 Billion
Projected Market Size in 2032	USD 3.86 Billion
CAGR Growth Rate	3.90% CAGR
Base Year	2023
Forecast Years	2024-2032
Key Market Players	Invacare Corporation, Hill Rom Holdings Inc., The BodiTrak, Stryker Corporation, Hi-Interiors SRL, LINET SPOL. s r.o., Ascion LLC., Sleep Number Corporation, PARAMOUNT BED CO. LTD., and Others.
Key Segment	By Sales Channels, By Distribution Channels, By Applications, and By Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs. Explore purchase options

Segmentation Analysis

The global smart bed market can be segmented into sales channels, distribution channels, applications, and regions.

On the basis of sales channels, the market can be segmented into B2C and B2B. The B2C segment is anticipated to register the highest CAGR growth during the forecast period. Increasing adoption of IoT-enabled smart home devices in the residential sector is driving the growth of the segment.

Also, the growing awareness among people regarding health and wellness trends is expected to positively influence the growth of the segment. Increasing education among people regarding the importance of sleep quality and its overall impact on the human body is further driving people's interest. The post-pandemic focus of people on self-improvement, comfort, and hygiene is also encouraging people to adopt products like Smart beds, particularly through B2C mode of distribution because of the reliability.

On the basis of distribution channels, the market can be segmented into online and offline channels. The offline channel segment is likely to dominate the global smart bed market during the forecast period. In-person experience and testing attract customers, which is a major factor in the high growth rate of the segment. People want to feel the comfort and unique features of smart beds, such as temperature controls and sleep tracking, and to evaluate them personally. People want to view and get assurance of these smart beds because of their relatively high price.

Offline channels facilitate direct interaction with customers so that they can get answers to their queries and other required information like product warranty and post-purchase services. Offline retailers can easily offer live product demonstrations, thereby helping customers to experience the products first-hand and then purchase them.

Additionally, they offer personalized customer service according to recommendations on specific health requirements and needs. Increasing adoption of these smart beds in luxurious hotels and showrooms is further appealing to consumers through direct exposure. Also, brands are collaborating with leading retail spaces to offer consumers a live experience of their new models and swipe a large market area.

On the basis of applications, the market can be segmented into hospitality, residential, hospital, and others. The residential segment accounts for the largest share of the smart bed industry during the forecast period. The growing adoption of smart home technology all across the globe in the residential sector is one of the major factors driving the growth of the segment. The rising trend of integrating smart beds with the IoT ecosystem to execute operations via voice assistance is also attracting modern customers.

Moreover, the increasing awareness among people regarding their health and wellness is further encouraging them to work on their sleep quality and patterns, which is further driving the growth of the segment. The COVID-19 pandemic has deeply affected people's lifestyles, and nowadays, people are upgrading their living spaces to improve their functionality and comfort. Smart beds can easily be customized according to the needs of residents, like anti-snore technology, temperature control, adjustable firmness, and sleep tracking, which further attracts end users.

Regional Analysis

• North America is likely to dominate the global market.

North America will likely account for the largest share of the global smart bed market during the forecast period. The US is the leading market in the North American region because of the high adoption of advanced technology among consumers. Also, the increasing spending on smart healthcare products to improve their overall well-being is likely to positively influence the growth of the regional market. Canada is also anticipated to witness significant developments in the coming years because of the growing middle-class population in the region.

Moreover, the rising awareness among people regarding the importance of sleep quality is further expected to widen the scope of the regional market. The rapidly increasing elderly population in North America is also strengthening the demand for smart beds in the market.

Asia Pacific is another leading region in the smart bed industry during the forecast period. China is the largest market in APAC because of the leading middle-class population in the region. Technological advancements in home automation are another major factor positively impacting the growth of the region. Japan is widely known for its innovation in technology and, therefore, is also likely to contribute immensely towards the growth of sales revenue in the region. The increasing number of tech-savvy people in South Korea is also emerging as a key factor in the growth of the regional market.

The ongoing urbanization, along with the increasing middle-class population in India, is also an important factor positively influencing the growth of the regional market. People's rising interest in luxury home products in Australia is also anticipated to boost the demand for smart beds in the region.

For instance, The Sleep Company came up with the Elev8 Smart Adjustable Bed in 2022, which has all-new features like TV mode and dual-zone massager.

Competitive Analysis

The key players in the global smart bed market include:

• Invacare Corporation
• Hill Rom Holdings Inc.
• The BodiTrak
• Stryker Corporation
• Hi-Interiors SRL
• LINET SPOL. s r.o.
• Ascion LLC.
• Sleep Number Corporation
• PARAMOUNT BED CO. LTD.

For instance, HL Interiors Srl came up with a unique four-bed model in 2020 that is well equipped with features like HiAm to promote proper well-being in the bedroom.

The global smart bed market is segmented as follows:

By Sales Channels Segment Analysis

• B2C
• B2B

By Distribution Channels Segment Analysis

• Online
• Offline Channels

By Applications Segment Analysis

• Hospitality
• Residential
• Hospital
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America