Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Smart Bed Market Overview
Smart bed is a technologically advanced bed integrated with various features such as sleep monitoring system and others. These smart beds are equipped with touch free sensors located under the mattress. The smart bed helps to maintain health by keeping a track of the person heart rate, respiration rate, motion and others. Smart beds are widely used by healthcare sector for monitoring health of the patients.
Market Size and Forecast
The global smart bed market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Smart bed market is driven by various factors such as growing awareness of sleep as a health concern and rising personal disposable income. Further, mounting demand for smart bed from commercial sector is expected to bolster the growth of smart bed market.
Regionally, the most prominent regional markets are North America and Europe. North America region is expected to dominate the market during the forecast period aided by U.S. Further, growing adoption of innovative technology and rapid urbanization are projected to flourish the growth of smart bed market. Moreover, presence of major key players in North America region is also predicted to bolster the growth of smart bed market over the forecast period.
North America region is followed by Europe. Europe region grabbed the second largest market of smart bed in terms of revenue in 2016. Further, the major countries witnessing the augmented demand for smart bed are France, U.K. and others countries. Moreover, growing demand for advanced as well as safe bed and increasing use of organic and eco-friendly mattresses are envisioned to bolster the growth of smart bed market in this region.
Asia-Pacific is expected to witness a tremendous growth by the end of 2024. Additionally, this region is most lucrative market across the globe owing to emerging economies such as India and China. Further, product innovation by manufacturers in China, Korea, and Japan is fuelling the growth of smart bed market in this region. Rise in per capita income in this region is also envisioned to flourish the growth of smart bed market. Furthermore, Latin America is also anticipated to witness a robust growth owing to the adoption of advanced technologies.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global smart bed market in the following segments:
By Mode
By End User
By Region
Global smart bed market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising demand for health monitoring solution that are non-invasive and growing adoption of technologically advanced products are envisioned to be the dynamic factor behind the rapid growth of smart bed market across the globe. Further, evolution of user-friendly technologies is also anticipated to boost the demand for smart bed over the forecast period.
Moreover, the factors attributing towards the growth of smart bed market including increasing disposable income and increasing purchasing power of the consumer. In addition to this, increasing number of hotels coupled with growing demand for smart technologies is believed to foster the growth of smart bed market. Furthermore, increasing investments in infrastructural facilities would lead to the adoption of smart bed in the residential and other sectors.
However, high cost associated with smart bed is anticipated to hinder the growth of smart bed market. Moreover, lack of awareness among the consumers regarding health benefits related to smart bed is projected to dampen the growth of smart bed market.
Key players
The major key players for smart bed market are as follows
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