The global sleep tech devices market is anticipated to grow at a significant CAGR of 16% during the forecast period. Rising technological advancements in sleep tech devices to provide relief to patients affected by serious sleep disorders leads to the growth of the sleep tech devices market. The emergence of advanced technologies such as artificial intelligence (AI) in recent times has impacted almost every industry including sleep health by assisting in the management of sleep conditions such as insomnia. Using AI several manufacturers are coming up with an AI-powered smart bed, smart pillow, digital tools, and apps that are integrated with advanced features that are capable of monitoring users' sleeping patterns and assisting them in having better sleep. Moreover, these AI-powered sleep devices come with companion iOS/ Android apps that assist users in keeping track of data that can further aid in preventing, managing, and treating disorders or diseases. Some recent launches in this segment include-
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• In 2021, HoneyNaps announced that it will launch a digital therapeutic business for the treatment of insomnia, a common sleep disorder by 2022. HoneyNaps’ digital therapeutic platform includes an AI software called Somnum to diagnose sleep diseases; a non-contact sleep analysis and coaching solution known as My Somnum; and Somnum Medella which is an insomnia digital treatment.
• The motion pillow 3 launched at CES 2022, is an AI system that recognizes the sound of a user snoring and the motion pillow itself locates (via an air pressure sensor) exactly where the user's head is resting. Its three uses airbags that inflate when the user snores and moves the head into a position that opens up the airways to reduce or stop snoring. Beyond the pillow, there’s a sleep tracking system that monitors users sleeping patterns and trends, with data analyzed in the companion app (iOS, Android).
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Product
o By End-Use
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Casper Sleep Inc., Hatch, Inc., Koninklijke Philips N.V., Samsung Electronics Co., Ltd., Withings SA, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Sleep Tech Devices Market Report Segment
By Product
By End-Use
Global Sleep Tech Devices MarketReport Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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