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2021
Smart Bed Market

Smart Bed Market

by Type (Manual, Semi-Automatic and Automatic), Application (Healthcare, Hospitality, Residential and Others), and Sales Channel (Supermarket/hypermarket, Online Stores, Specialty Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A06561
Pages: 302
Aug 2021 | 6613 Views
Author(s) : Raju K , Roshan D
Tables: 146
Charts: 70
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COVID-19

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The global smart bed market size was valued at $2,285.5 million in 2020, and is estimated to reach $3,833.6 Million by 2030, registering a CAGR of 4.8% from 2021 to 2030. In 2020, the manual segment accounted for significant revenue share in the total global smart bed market, and is expected to grow at a CAGR of 4.3% throughout the forecast period.

Smart beds are innovative advanced bed that allows users to expand the capabilities of their beds beyond their basic functionalities by automatically adjusting the settings of the beds to the users’ comfort. Smart beds improve the user’s comfort while also providing health benefits.  

Smart-Bed-Market-2021-2030

Smart beds integrate advanced amenities with technology that allows for comfortable changes and connectivity while sleeping. Sleep tracking, automatic mattress firmness adjustment, climate control, smart fabric technology, adjustable bases, anti-snoring feature, IoT, and smart home connectivity are just a few of the features accessible.

The rapid growth in the real estate sector due to 100% foreign direct investment for township, smart cities, commercial buildings, and settlement development project is attracting investors in the real estate sector, which increase the quality of residential apartments. Growth in both, housing and commercial development will have a positive effect on furniture demand, driven by the need to furnish new constructions. Tourism has been on a rapid increase across the globe. To cater demand of the growing tourism sector, it is expected that additional hotel rooms will be required thus leading to increase of smart furniture such as beds, and mattresses. The furniture industry would benefit through the subsequent demand from the hospitality industry.

More than half of the global population lives in cities. According to United Nation UNCTAD, the global urbanization rate is 55.7%. Furthermore, exponential increase in population growth rate boosts the demand of smart beds. Thus, rapid urbanization and upsurge in population positively impact the residential and hospitality sectors, which, in turn augment the demand for smart beds. In addition, the hospitality industry provides the best comfort and sleep to its customers. Hence, the hospitality industry is demanding more comfortable beds to provide better hospitality services. This is leading to rise in demand for smart beds in the hospitality segment. Furthermore, upsurge in healthcare industry and advanced bedding options in urban and developed areas, which augments the market owing to the urbanization.

Counterfeiting is a crime, which involves the manufacturing or distribution of goods under someone else's name without their permission. This practice is common in the global bedding market. Counterfeiters sell the defective and substandard bedding products to customers to their doorsteps at the same or less price with the brand name. In addition, selling of fake bedding products with copied brand name and without proper safety certificates has become a frequent practice, which significantly hampers the smart bed market growth. 

Strong global concerns about the pandemic, coronavirus, have largely but negatively influenced the global smart bed market. Moreover, due to the high demand and low supply trends, the prices of products increased in 2020 to overcome on economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term.

According to the smart bed market analysis, the market is segmented on the basis of Products, end use, sales channel, and region. Depending on type, the market is divided into manual, semi-automatic, and automatic. Based on applications, healthcare, hospitality, residential, and others. By sales channel, it is fragmented into supermarkets & hypermarkets, online stores, specialty stores, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Nigeria, Saudi Arabia, South Africa, and rest of LAMEA).    

On the basis of type, the manual segment accounted for the maximum global smart bed market share in 2020, and is expected to remain dominant during the smart bed market forecast period. Manual smart beds are suited for modest operations that necessitate a high level of caution and human participation. Using a manually operated smart bed, customer or business will go in a cost-effective and comprehensive manner. Due to the popularity and benefits of manual smart beds, this segment is expected to garner a considerable growth rate.

Smart Bed Market
By Type

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Automatic segment would witness the fastest growth, registering a CAGR of 5.3% during the forecast period.

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On the basis of application, the residential segment accounts to higher value share. The rise in trend of home furnishing with stylish and modular furniture is the major reason behind the growth of smart bed market in the residential segment. In addition, development in residential sector and rapid growth of metro cities is changing the lifestyle and living standards of the population across the globe and is expected to fuel the market growth. 

Smart Bed Market
By Application

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Healthcare Segment witnssed a major growth rate of 5.4%

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On the basis of sales channel, the specialty stores segment held the significant smart bed market share in 2020. The expansion of specialty stores is attributed to the ability to choose and compare between products and rise in affluent population in emerging countries in Asia-Pacific and LAMEA. In addition, specialty stores meet growing consumer demand, as products bought from specialty stores can be taken home immediately.

Smart Bed Market
By Sales Channel

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Specailty Stores Segment held the major share of 65.0% in 2020

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On the basis of region, North America dominated the smart bed market in 2020, and accounted for maximum market share. North America currently is one of the leading markets of the smart bed industry due to the extreme growing demand for smart bed products in healthcare industry. 

Smart Bed Market
By Region

2030
North America 
Europe
Asia-Pacific
LAMEA

North America held the major share of 60.0% in 2020

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Players in the Smart Bed market have adopted business expansion and product launch as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in the report include ArjoHuntleigh AB, BodiTrak, Hi-Interiors SRL, Hill Rom Holdings Inc, Invacare Corporation, Joerns Healthcare LLC, LINET spol. s r.o., Paramount Bed Co., Ltd, Sleep Number Corporation, and Stryker Corporation. 

Key benefits for stakeholders  

  • The report provides quantitative analysis of the current smart bed market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing Smart Bed market opportunities.  
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size & segmentation assist to determine the market potential.
  • The major countries in each region are mapped according to their revenue contribution to the market.    
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the smart bed industry. 

Key market segments 

By Type

  • Manual
  • Semi-Automatic
  • Automatic

By Application

  • Healthcare
  • Hospitality
  • Residential
  • Others

By Sales Channel

  • Supermarket/Hypermarket
  • Online Stores
  • Specialty Stores
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany 
    • France
    • UK
    • Italy
    • Spain 
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • Australia
    • South Korea
    • Thailand
    • Singapore
    • Rest of Asia-Pacific 
  • LAMEA 
    • Brazil
    • Argentina
    • UAE
    • Nigeria
    • Saudi Arabia 
    • South Africa
    • Rest of LAMEA
 

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According to CXOs, significant increase in adoption of smart furniture accessories among consumers lead to growth in popularity of the smart bed market. With the aim to build energy efficient buildings and ensure maximum health hygiene, commercial and residential sectors significantly contribute toward demand for smart beds.  

North America accounts for a dominant market share of 60.2% in the global smart bed market in 2020, owing to its widespread application in the existing residential and commercial sectors. However, Asia-Pacific is expected to exhibit the fastest growth rate of 6.0% during the forecast period, owing to increase in commercial infrastructural investments, growth in disposable income of consumers, and rise in desire for smart and energy efficient residential homes. Moreover, increase in rate of migration from rural areas and urbanization are expected to foster growth of commercial and residential sectors, which propels growth of the smart bed market.

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FREQUENTLY ASKED QUESTIONS?

A. The global smart bed market size was valued at $2,285.5 million in 2020, and is estimated to reach $3,833.6 Million by 2030, registering a CAGR of 4.8% from 2021 to 2030.

A. The CAGR of Smart Bed Market is 4.8%.

A. Kindly contact with the sales team for better options.

A. 2020 is the base year calculated in smart bed market report.

A. Type, Application, and sales channel are the segments in the smart bed market.

A. The top companies in the smart bed market report are ArjoHuntleigh AB, BodiTrak, Hi-Interiors SRL, Hill Rom Holdings Inc, Invacare Corporation, Joerns Healthcare LLC, LINET spol. s r.o., Paramount Bed Co., Ltd, Sleep Number Corporation, and Stryker Corporation.

A. North America region holds the maximum market share of the smart bed market.

A. The impact of post covid-19 on the smart bed market are positive. The market will recover in the next 1-2 years.

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