Smart Bed Market Overview:
The smart bed market is still in developing stage and the technology is anticipated to make a mark in the consumer product division with the rise in commercialization. New entrants can have a glimpse of the advancements in this developing technology segment and identify investment opportunities or market entry strategies with this limited report on the smart bed market. IoT as a technology has penetrated every aspect of human life. Accordingly of which the young tech savvy generation is looking for products that support them integrate technology into their regular seemingly non-tech activities. Smart bed market for hospitals have features such as sleep analysis and heart rate monitor which may facilitate doctors keep a track of patient’s health in real time. These smart beds are equipped with touch free sensors located under the mattress. The smart bed helps to preserve health by keeping a track of the person respiration rate, heart rate, pulse and others.
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Global smart bed market accounted for more than USD 2.6 Billion in 2016 and the market is projected to reach USD 4.8 Billion by the end of 2024. Furthermore, the market is estimated to increase at a compound annual growth rate of 7.9% over the forecast period.
Drivers and Restraints:
The next generation of users belonging to smart cities are expecting higher level of comfort while they are in their own home. Smart beds serve the exact drive by facilitating users sleep better. Smart beds integrate themselves with the other devices of the user and gather data from devices such as fitness trackers and smartphone to identify user’s sleep patterns. Smart beds are hence driven by the user’s need for comfort. Nevertheless, Smart Bed is a comparatively new product in the industry and there are not several smart beds commercially available in the market. Smart beds can only by adopted in the mainstream market once users clearly see significant advantage from the end products. Right now, the products are under experimentation stage and are a part of uber luxury products market. The product being experimental and their costs are hampering the growth of the overall smart bed market.
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Geographically, Global Smart Bed Market has been dominated by North America followed by Europe. Europe is expected to register the second-largest share of the market.
The Global Smart Bed Market report analysis includes major companies like Paramount Bed Co., Stryker Corporation, BodiTrak, ArjoHuntleigh AB, Hill Rom Holdings Inc., Hi-Interiors SRL, Balluga Limited, BAM Labs, Stryker Corporation, Hi-Interiors, and Responsive Surface Technology.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the aspects influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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