Sleep Tech Devices Market Analysis by Product (Wearables, and Non-Wearables); by Gender (Male, and Female); by End Users (Hospitals, Homecare Settings, and Others); and by Application (Insomnia, Obstructive Sleep Apnea, and Narcolepsy) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

Buy Now Report ID: 4760 | Published Date: Mar 29, 2023

Global Sleep Tech Devices Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global sleep tech devices market size is estimated to reach ~USD 50 Billion by the end of 2035 by growing at a CAGR of ~15% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of sleep tech devices was ~USD 13 Billion. The growth of the market can be attributed to the increasing use of sleep tracking technology. In the United States, around 15% of adults reported using sleep-related applications such as sleep cycle and sleep time. Moreover, in China and India, roughly a quarter of those who responded to an online survey indicated they had used sleep-tracking apps in the 12 months before the study.

In addition to these, factors that are believed to fuel the market growth of sleep tech devices include the rise in the instances of various sleep disorders among people. In the United States, between 125,000 and 200,000 people have narcolepsy. According to some estimates, the condition affects around 44–50 per 100,000 Americans. A long-term neurological condition called narcolepsy interferes with the brain's capacity to regulate sleep-wake cycles. Narcoleptics may feel rested when they first wake up and then experience extreme sleepiness for the majority of the day. On the other hand, rising technological advancement in sleep assisting devices is also expected to augment the market growth.

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Global Sleep Tech Devices Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 13 Billion

Forecast Year Market Size (2035)

~ USD 50 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Sleep Tech Devices Market: Growth Drivers and Challenges


Growth Drivers

  • Rising Population Living with Sleeping Disorders- Rising cases of sleeping disorder is expected to increase the demand for sleep tech. Similar to eating and drinking, sleep is a basic human requirement that is essential to our general health and well-being. Moreover, up to 45% of the world's population is at risk for health and quality of life owing to the global epidemic of sleep issues.
  • Rising Advancements in Sleep Devices – More innovations in sleep tech is likely to create huge opportunities for the market’s growth. For instance, Kryo Inc. a sub company collaborated with major League Baseball's Cincinnati Reds and Seattle Mariners. The company provided the teams with an advanced sleep technology, OOLER sleep system. It is a technology that is regulates the body temperature to initiate a deep sleep in a person.
  • Rising Population of Old Adults – With increasing age the levels of melatonin decrease, which leads to fragmented sleep cycles. According to the World Health Organization, one in six individuals on the planet will be 60 or older by 2030. By this point, there are likely to be 1.4 billion people over the age of 60, up from 1 billion in 2020. The number of individuals in the globe who are 60 or older is further expected to double by 2050.
  • Increasing Levels of Noise Pollution – Noise pollution is a developing issue that can cause insomnia, sleep disruption, and chronic health concerns. About 35 million people who reside in the Tokyo metropolitan region struggle with noise pollution every day. In some places, decibel levels might reach 90. Furthermore, whereas noise levels often can reach 85 dB or greater, Shanghai traffic also contributes significantly to noise pollution. 
  • Rising Prevalence of Depression and Anxiety– Depression and anxiety trigger sleeping disorder. However, the largest cause of disability in the world today is depression, which also significantly contributes to the overall burden of sickness on the planet. The World Health Organization describes depression as a widespread mental illness. According to estimates, 5% of adults worldwide experience depression.


  • High Cost of Smart Sleeping Devices
  • Technology Increases Paranoia and Overthinking- The brain is impacted by technology, which stimulates the mind and makes it difficult to go to sleep. Sleeping close to technology might result in unwelcome awakenings from sounds and blinking lights. Moreover, the amount of time we spend sleeping is typically shorter when we are using electronics. Moreover, large-scale random controlled trials are still needed to confirm claims that sleep-monitoring wearables can help with sleep disorders, especially when it comes to serious conditions such as hypertension and insomnia.
  • Regulatory Framework for Manufacturing is Strict

Global Sleep Tech Devices Market Segmentation

The global sleep tech devices market is segmented and analyzed for demand and supply by product into wearables, and non-wearables. Out of the two types of product, the wearables segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the increasing use of smart wearable devices, such as smartwatches, fitness bands, and others. Wearable devices are gaining popularity owing to their convenience in carrying around, there are cheaper than sleep monitors. Moreover, with the help of wearable devices, a person can continuously monitor the status of their body and the physiological activities happening within a person. In addition to this, these devices can record when a person goes to sleep at night and wake up in the morning by monitoring the time, when they are inactive. Globally, the number of linked wearable devices has increased from around 325 million in 2016 to nearly 722 million in 2019, the sales have been more than doubled in only three years. Also, it is anticipated that in 2020, the number of smartwatches shipped globally exceeded 100 million.

The global sleep tech devices market is also segmented and analyzed for demand and supply by application into insomnia, obstructive sleep apnea, and narcolepsy. Amongst these three segments, the insomnia segment is expected to garner a significant share in the year 2035. A person has insomnia when they don't get enough sleep, don't sleep well, or have difficulties falling or staying asleep. Insomnia might be a minor annoyance for some people. Some may experience severe problems from sleeplessness. The causes of sleeplessness might also differ greatly. A rise in the number of people suffering from insomnia is expected to boost the segment growth. They are two types of insomnia, acute and chronic insomnia, and they both are very common. Around the world, every one in three people experience symptoms of insomnia, and approximately 10% of adults actually have an insomnia disorder.

Our in-depth analysis of the global sleep tech devices market includes the following segments:


     By Gender

  • Male
  • Female

    By Product

  • Wearables
  • Non-Wearables

    By End User

  • Hospitals
  • Homecare Settings
  • Others

   By Application

  • Insomnia
  • Obstructive Sleep Apnea
  • Narcolepsy

Global Sleep Tech Devices Market Regional Synopsis


The market share of sleep tech devices in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~37% by the end of 2035. The growth of the market can be attributed majorly to the rising demand for smart watches and other smart wearable devices. In 2022, more than 200 million people wore smartwatches in America. About 92% of smartwatch users claimed to use their devices to monitor and manage their health.  Furthermore, 42 percent of the total of smartwatch users have spoken with their doctors about the information they have gleaned from their devices. Furthermore, by the end of 2023, there will likely be nearly 224 million smartwatch users in America.

The Asia Pacific sleep tech devices market is estimated to be the second largest, registering a share of about ~25% by the end of 2035. The growth of the market can be attributed majorly to the rising cases of depression and anxiety in the region. There are around 38 million people in India who have an anxiety disorder, and nearly 56 million who suffer from depression. In addition to this, by 2022, there were around 60 million cases of depression in India, with a prevalence rate of approximately 5%. In addition to this, according to the World Health Organization, in China, around 54 million people are living with depression, additionally, nearly 41 million are suffering from anxiety disorders. On the other hand, the market growth is also attributed to the growing geriatric population. According to the statistics of the World Health Organization, one of the world's fastest-growing aging populations is in China. By 2040, it is anticipated that 28% of China's population would be over 60.

Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a significant share by the end of 2035. The growth of the market can be attributed majorly to the growing noise pollution in the region. Prolonged exposure to noise can have a number of detrimental health impacts, such as harmful effects on the cardiovascular, sleep disruption, metabolic systems, irritability, and even cognitive impairment in children. According to estimates from the European Environment Agency (EEA), 6.5 million individuals have chronic high sleep disturbance and 22 million people experience chronic high annoyance. In addition to this, fitness bands and smart watches are gaining popularity owing to their smart sleep tracking, it schedule the sleep and extract detailed data for the user.

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Top Featured Companies Dominating the Global Sleep Tech Devices Market

    • Huawei Consumer Business Group
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Samsung Electronics
    • Fossil Group, Inc.
    • Xiamoi Inc.
    • Masimo
    • Fitbit Inc.
    • Apple, Inc.
    • Nihon Kohden Corporation
    • Compumedics Limited
    • Garmin Ltd.


In The News

  • Huawei Consumer Business Group announced the launch of next-generation smart wearable devices for smart and healthy living. The products include HUAWEI Mate Xs 2, HUAWEI WATCH GT 3 Pro, HUAWEI WATCH FIT 2, HUAWEI Band 7, HUAWEI WATCH D, and HUAWEI S-TAG. These smartwatches have cutting-edge features like health alerts, sleep induction warnings, medicine reminders, and information on activity intensity.

  •  Samsung Malaysia Electronics announced the launch of their new device Galaxy Fit2. It is used for monitoring the workout session and sleep quality. The Samsung Health app gives the user a Sleep Score in the morning that details how well they slept throughout the night and includes a thorough analysis.


Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Author Credits:  Radhika Gupta, Shivam Bhutani

Key Questions Answered in the Report

1) What are the major factors driving the growth of the global sleep tech devices market?

Ans: Increasing cases of sleeping disorders, rising use of smart devices, and advancement in sleeping technology are the major factors driving the market growth.

2) What would be the CAGR of global sleep tech devices market over the forecast period?

Ans: The market size of sleep tech devices is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the global sleep tech devices market growth?

Ans: the cost of sleeping monitors and wearable devices is high and strict regulations for manufacturing sleep techs are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of global sleep tech devices market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the global sleep tech devices market?

Ans: The major players in the market are Samsung Electronics, Fossil Group, Inc., Xiamoi Inc., Masimo, Fitbit Inc., Apple, Inc., Nihon Kohden Corporation, Compumedics Limited, Garmin Ltd., Huawei Consumer Business Group, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the sleep tech devices market?

Ans: The market is segmented by gender, product, end user, application, and by region.

8) Which segment captures the largest market size in the product segment in the sleep tech devices market?

Ans: The wearables segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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