Sleep Tech Devices Market Size By Type (Wearables {Smart Watches and Bands, Others}, Non-wearables (Sleep Monitors, Beds}, By Gender (Male {<18, 18-36, 37-55, >55}, Female {<18, 18-36, 37-55, >55}), By Application (Insomnia, Obstructive Sleep Apnea, Narcolepsy), By Distribution Channel (Specialty Clinics, Direct-to-Consumer, Hospitals), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Oct 2019  |  Report ID: GMI4405  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 125   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry trends

Sleep Tech Devices Market size exceeded USD 9 billion in 2018 and is set to achieve over 16% CAGR up to 2025.

Sleep Tech Devices Market

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Sleep tech devices are electronic devices utilized for monitoring and enhancing sleep mostly in individuals suffering sleep apnea, narcolepsy and insomnia. Several technologically upgraded sleep tech devices including wearable smart watches and bands, head belts, rings, sleep pads, beds and ear plugs are available in the market. Over the past few years, sleep enhancing devices have witnessed tremendous advancements that has revolutionized the sleep tech industry. Newly developed sleep tech devices not only monitor sleep but are also able to regulate temperature that may interrupt sleep otherwise. Rising availability of such upgraded sleep devices will positively influence the sleep tech devices market growth.

In early 2000’s, wearable technology that could track different health parameters gained momentum. In the year 2000, Sleep Number introduced sleep number smart beds. Later, brands such as Fitbit, Nike+ and others launched sleep tech devices that track and monitor health data. As the technology evolved, devices dedicated to monitoring sleep were developed. People started adopting theses sleep tech products to overcome sleeping disorders. In 2013, Fitbit, one of the prominent players, launched Fitbit Force smart watch that could measure the quality of sleep. After several years, other companies such as Xiaomi and Samsung also started developing wearable technology that could analyse the sleeping patterns. Currently, sleep tech industry is in the developing phase and is yet to witness numerous growth opportunities on introduction of advanced technology.

Sleep Tech Devices Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 9 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 16% 2025 Value Projection: 25 Billion (USD)
Pages: 125 Tables, Charts & Figures: 249
Geographies covered (18): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE
Segments covered: Type, Gender, Application and Distribution Channel
Companies covered (14): Eight Sleep, Philips, Rhythm, Dodow, Casper, Nokia, Sleepace, Xiaomi, Oura Health, Fitbit, Sleep Shepherd, Emfit Ltd, Neuron, W.L. Gore & Associates
Growth Drivers:
  • Increasing prevalence of sleeping disorders across the globe
  • Technological advancements in sleep tech devices in developed regions
  • Rising awareness regarding availability of sleep tech devices in developing and underdeveloped countries
  • Increasing geriatric population in Europe
Pitfalls & Challenges:
  • High cost of sleep tech devices
  • Stringent regulatory framework

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Introduction of novel technology in sleep tech devices fosters their adoption

Global Sleep Tech Devices Market

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Increasing reliability on sleep tech devices has motivated the industry players to introduce upgradations in the existing devices. People suffering from sleeping disorders usually rely on sleep tech devices. Significant percentage of people in the U.S. utilize such devices before going to sleep. This scenario proves beneficial for the industry growth as it raises the adoption of sleep tech devices. Moreover, several companies have also developed smart watches that can be connected to smart phones, thereby helping in easy integration of sleep data. The tracker available in market possess commendable efficiency that has boosted their preference. Therefore, introduction of novel technology has stimulated the industry growth.

Stringent regulatory landscape for sleep tech devices in developed as well as developing countries may affect the industry growth to some extent. Also, penetration of sleep technology is low in developing and underdeveloped countries due to high costs that may impede the industry growth.

Wearable smart watches and bands with unique technology captured significant market share

Based on type, the sleep tech market is bifurcated into wearable and non-wearable devices. Wearable segment of sleep tech industry held around 76% revenue share in 2018 and is expected to witness similar trends in the forthcoming years. Increasing stress levels and other lifestyle disorders has impacted the sleep hours of individuals in developed as well as developing countries. Wearable wrist watches experienced high demand due to introduction of advanced technology in such devices. Philips has developed a wristwatch that has natural frequency technology. This technology improves sleep cycles and lifestyle of individuals suffering from stress and other sleeping disorders that will escalate the segmental growth.

Lifestyle changes has increased the demand for smart sleep tech devices amongst the males in the age group of 18-36 years

Based on gender, the sleep tech market is divided into male and female. Male segment was valued over USD 5 billion in 2018. Considerable revenue share can be attributed to the lifestyle changes and sedentary work culture that has led to stress as well as sleep disorders in individuals. According to the survey conducted by the Consumer Electronics Association, out of the total population using sleep tech devices, millennials accounted for major share. Males are susceptible to stress and sleeping disorders that increases the adoption of sleep tech devices amongst them, thereby stimulating the business growth. Moreover, prevalence of sleep apnea in the middle-aged men is much higher as compared to women. Hence, the above-mentioned factors will boost the segmental growth.

Insomnia affects over 25% of the U.S. population that enhances the demand for sleep tech devices

Germany Sleep Tech Devices Market By Application

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The applications of sleep tech devices are insomnia, obstructive sleep apnea, environmental sleep disorder. Insomnia segment of sleep tech devices market is expected to witness around 15% growth throughout the forecast timeframe. According to a survey, around 25% of Americans experience acute insomnia every year. Globally, millions of people suffer from insomnia that raises the adoption of sleep tech devices. Recently developed sleep monitoring and enhancing devices help in optimizing the daily activities that surges the segmental growth.

Availability of advanced sleep tech devices on online platform will positively impact the direct-to-consumer sales of sleep tech devices

Based on distribution channel, the sleep tech devices market is segmented into specialty clinics, direct to consumer and hospitals. Direct-to-consumer segment was valued around USD 4 billion in 2018 and is estimated to foresee similar trends in the forthcoming years. Considerable segmental growth can be attributed to the growing promotional activities and broadcasting of sleep tech devices on online platforms. Due to advertisements and other promotional activities, awareness regarding sleep tech devices have increased drastically that has positively impacted the purchase of these devices through online platforms. Since sleep tech devices do not require doctor’s prescription, people prefer buying the devices through online platforms that are highly convenient as well accessible.

Favorable demographic trends will drive the demand for sleep tech devices in the U.S.

Asia Pacific Sleep Tech Devices Market By Country

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The U.S. sleep tech devices market held over 95% of revenue share of North America in 2018 and is expected to foresee significant growth throughout the forecast timeframe. Increasing stress levels has led to a rise in number of individuals suffering from obstructive sleep apnea. According to Sleep Advisor, an online platform providing information about sleep information and products, 25 million adults suffer from sleep apnea and the number is estimated to grow rapidly till 2050. Moreover, technology penetration is comparatively higher in the U.S. as compared to other developing economies that positively impacts the country growth. Aforementioned factors coupled with improving regulatory scenario will foster the sleep tech devices market growth in the U.S.

India sleep tech devices industry will experience over 16% CAGR during the analysis timeframe. Rising geriatric population susceptible to sleeping diseases will positively impact the country growth. Majority of the people in the age group of 65 years and above suffer from insomnia and other chronic diseases that may impact their regular activities. According to India Demographics Profile, there are around 75 million people in the age group of 65 years and above. This scenario proves beneficial for the industry growth as it increases the demand for sleep tech devices. Moreover, increasing awareness regarding availability of advanced sleep tech devices will further augment the country growth.

Fitbit is one of the leading companies in sleep tech devices market owing to continuous innovations

Few of the notable players operating in the industry are Eight Sleep, Philips, Dreem, Casper, Nokia, Sleepace, Xiaomi, Oura Health, Fitbit, Emfit and Neuron, Samsung among others. These players are implementing various strategies such as product launches, acquisitions and collaborations, in order to capture high revenue share in sleep tech devices business.

Some of the recent industry developments:

  •       In September 2019, Philips launched NightBalance device. This sleep tech device is specifically designed for patients suffering from obstructive sleep apnea patients. Thus, launch of new products will foster company’s growth.
  •       In May 2019, Samsung launched new Fitbit. The newly launched Fitbit tracker efficiently tracks sleep data. Introduction of new products will positively impact the company growth.

Sleep tech devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025, for the following segments:

By Type

·      Wearables

o  Smart watches and bands

o  Others

·      Non-wearables

o  Sleep monitors

o  Beds

o  Others

By Gender

·      Male

o  <18

o  18-36

o  37-55

o  >55

·      Female

o  <18

o  18-36

o  37-55

o  >55

By Application

·      Insomnia      

·      Obstructive sleep apnea

·      Narcolepsy

·      Others

By Distribution Channel

·      Specialty clinics

·      Direct to consumer

·      Hospital

·      Others

The above information is provided for the following regions and countries:

·      North America

o  U.S.

o  Canada

·      Europe

o  Germany

o  UK

o  France

o  Spain

o  Italy

o  Russia

·      Asia Pacific

o  China

o  Japan

o  India

o  Australia

o  South Korea

·      Latin America

o  Brazil

o  Mexico

·      Middle East & Africa

o  Saudi Arabia

o  South Africa

o  UAE

Frequently Asked Questions (FAQ) :

A sleep tech device is an electronic device utilized for monitoring and enhancing sleep mostly in individuals suffering sleep apnea, narcolepsy and insomnia.
The global market for sleep tech devices is set to exceed USD 25 billion by 2025, according to a new report published by Global Market Insights, Inc.
Male segment was leading the sleep tech devices industry worldwide with USD 5 billion revenue share in 2018.

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Premium Report Details

  • Published Date: Oct 2019
  • Pages: 125
  • Tables: 240
  • Charts / Figures: 9
  • Companies covered: 14
  • Countries covered: 18

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