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Smart Sleep Tracking Device Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 11:40 PM, 3rd October, 2017 REP-ID-373 Category: ICT & Electronics

Smart Sleep Tracking Device Market Overview

Smart sleep tracking device is referred to a device which tracks the sleep of a person. The sleep tracker device takes the sleep data and gives a detailed analysis of the person’s sleep. It also tracks the heart rate, breathing and snoring, time asleep, bedroom humidity and temperature. Smart sleep device is integrated with various features such as it wakes the person up by the alarm when the sleep is light sleep and the device also automatically senses when you go to bed and try to sleep.

Market Size and Forecast

The global smart sleep tracking device market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Smart sleep tracking device market is driven by various factors such as growing awareness of sleep as a health concern and rising personal disposable income. Further, the market of wearable devices by product type is expected to register a highest market share in overall smart sleep tracking device market by the end 2024. The growth of wearable smart sleep device market is attributed to the rising adoption of technologically advanced devices on the back of escalating sleep disorders.   

smart sleep tracking device

On the basis of geography, the most prominent regional markets include North America and Europe, which together constituted around 65% market share. North America region is expected to dominate the market during the forecast period aided by the U.S. Further, wide use of these compact devices in the treatment of sleep apnea and rapid urbanization are believed to flourish the growth of smart sleep tracking device market in the region. Moreover, presence of major key players in North America region is also predicted to bolster the growth of smart sleep tracking device market over the forecast period.

Europe region holds the second largest market of smart sleep tracking device in terms of revenue in 2016. Further, the major countries witnessing the augmented demand for smart sleep tracking devices are France, U.K. and others countries. Additionally, increased connectivity and a greater demand for healthcare devices are envisioned to foster the growth of smart sleep tracking device market in the Europe region. Asia-Pacific region is also projected to show a tremendous growth over the forecast period i.e. 2017-2024. The growth in this region is credited to the rise of middle class and rising purchasing power of the population. Furthermore, Japan and China are the leading countries for smart sleep trackers in this region.     

Market Segmentation

Our in-depth analysis segmented the global smart sleep tracking device market in the following segments:

By Product Type

  • Wearable devices
  • Non-Wearable devices

By Technology

  • Sensors
  • Electroactive polymers
  • Others

By Distribution Channel

  • Online store
  • Offline store

By Region

Global smart sleep tracking device market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea &Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (GCC, South Africa, North Africa) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers and Challenges

Factors such as increased awareness among people to get their sleep patterns checked and rising sleep disorders such as sleep apnea, insomnia and others are anticipated to be the dynamic factors behind the rapid growth of smart sleep tracking device market across the globe. Further, technological advancements have made these devices compact, comfortable, and easy to use.  This factor is expected to propel the growth of smart sleep tracking device market.

Moreover, smart sleep tracking device market is driven by various factors such as rising adoption of personalized healthcare devices, explosion of interest in gadgets and  rising disposable income of the population. In addition to this, increasing concerns over sleep-related issues such as accidents caused by sleep derivative, obesity and others are also envisioned to fuel the demand for smart sleep tracking devices.

However, high cost of smart sleep tracking devices is expected to hinder the growth of smart sleep tracking devices market. Further, less adoption of smart gadgets by developing and underdeveloped nations is also believed to dampen the growth of smart sleep tracking devices market.

Key players

The major key players for smart sleep tracking device market are as follows

  • Apple Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Samsung Group
  • Philips Healthcare
  • Nokia Corporation
  • Fitbit, Inc
  • Emfit Ltd
  • Garmin Ltd.
  • ResMed
  • Sleepace

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global smart sleep tracking device market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Technology Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis
  • By Price Range Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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