What is Sleep Technology Market?
Sleep Technology is also known as Polysomnographic technology which work on the diagnosis and treatment of sleep disorders. it uses different technological devices and sleep software which analyze sleep cycles and help to induce better sleep namely, sleep apps, wearables and fitness trackers, smart bed and mattresses, externals monitoring, sound and light technology. For examples sleep trackers and sleep sensors helps to regulate sleep schedule and other sleep gadgets can help with snoring sleep apnea, insomnia, shift work sleep disorder, nightmares and sleep walking. Owing to increasing awareness of sleep tech devices in customers, sleep technology market is expected to grow at a significant rate during the forecast period.
Highlights from Sleep Technology Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||Beddit (Apple Inc,) (Finland), Casper Sleep Inc., (United States), Cadwell Industries Inc. (United States), Muse (United States), Nyxoah (Europe), Dreem (United States), Sana Health Inc. (United States), Sleepace (China), Hapbee (United States), Kokoon Technology (United Kingdom), Biotricity (United States), Xiaomi (China), Koninklijke Philips N. V. (Netherland), Emfit Ltd (Finland), Sleep Shepherd LLC (United States) and Fitbit Inc. (United States)|
Sleep Technology market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Beddit (Apple Inc,) (Finland), Casper Sleep Inc., (United States), Cadwell Industries Inc. (United States), Muse (United States), Nyxoah (Europe), Dreem (United States), Sana Health Inc. (United States), Sleepace (China), Hapbee (United States), Kokoon Technology (United Kingdom), Biotricity (United States), Xiaomi (China), Koninklijke Philips N. V. (Netherland), Emfit Ltd (Finland), Sleep Shepherd LLC (United States) and Fitbit Inc. (United States) are some of the key players profiled in the study.
Sleep Technology Market Segmentation:
|Application / End User||Healthcare and Hospitals|
|Type||Wearables and Fitness Trackers, Smart Bed and Mattresses, Externals Monitoring and Sound Technology|
On the basis of geography, the market of Sleep Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Increasing Demand of Electrical Adjustable Bed, Motion Pillows and White Noise Wall Plug
Market Growth Drivers:
Growing Demand of Sleep Tech Devices, Increasing Awareness Regarding Sleep Tech Devices among Customers and Rising Demand for Sleep Tech in Insomniac Patients
Strict Government Rule
High Cost of Manufacturing
Increasing Technical Advancement in Sleep Devices
Key Target Audience
Sleep Technology Devices and Services Provider, Sleep Technology Devices Manufacturer, Raw Material Suppliers, Distributors, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others
Market Leaders & Development Strategies
In February 2021, Cadwell Industries, Inc. acquired the SleepMate Line of Sleep Diagnostic Sensors from Ambu A/S. SleepMate provide high-quality and reliable sleep diagnostic sensor solutions for more than 30 years. With this acquisition, Cadwell provides sleep diagnostic technology and expands its presence in sleep technology.