Global Smart Mattress Market Overview
The key driver impacting the smart mattress market is the rising penetration of smartphones and high-speed internet. For instance, According to the Pew Research center 2019 report estimations, over 5 billion people own mobile devices, and among these, half of the connections are smartphones. Globally, the number of internet users expanded from 413 million in 2000 to over 3.4 billion in 2016. The one billion obstacles were passed in 2005 as per the world in the data report. It is expected that there are over 21 billion IoT devices worldwide, 15, and their number will double by 2025. Moreover, enhancing the product by the integration of communication technologies such as 4G, LTE, and 3G with connected devices contributes to smart mattress market demand in the coming years.
According to Value Market Research, the global Smart mattress market size was valued at about USD 1200 million in 2020 and is estimated to grow at a CAGR of around 10% during the forecast period 2021 to 2027.
The several new players are entering the market by launching new smart mattresses with innovative features such as bed warming, smart home product integration, and smart alarms globally is likely to augment the demand in the forecast period. For instance, in February 2019, Eight Sleep launched a new biometric-monitoring smart mattress that features a dual thermostat, either keeping the bed warm in winters or cool in summers. This is due to the growing popularity of connected smart home devices with consumers. However, the high cost of smart mattresses may hamper the market in the long run. Also, the rise in price wars among existing vendors is negatively impacting the market. The current industry trends, such as the rising investments in R&D Vendors, are expected to offer several beneficial market opportunities to the key players.
The Smart mattress market is vast, with many local and global players. The Smart mattress market is extensive, with many regional and international players. The prominent market leaders follow several strategies to improve their market status, such as extending product portfolio, acquisitions, contracts, acquisitions, amalgamation, acquisitions, product upgrades to mount their market share across the globe. The prominent players studied in the report include Eight Sleep, Sleep Number, Kingsdown, Serta Simmons Bedding, Responsive Surface Technology, Tempur Sealy International, Hilding Anders, Recticel, Derucci, and Sleeman.
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In this research report, the smart mattress market is segmented by product, and region.
Analysis by Product:
By product, the report is categorized into innerspring, latex, memory foam, and others. The innerspring segment dominates the product segment with over 31% in the forecast period. It is due to the rising cases of back problems associated with uncomfortable sleeping surfaces. Also, the growing integration of technology by the manufacturers to introduce smart technology in this category contributes to the high growth of the innerspring segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Smart mattress market, the North America region dominates globally with a 60% market share in the forecast period. It is due to the rising awareness among consumers with regards to sleep in the U.S. and Canada that leads to high demand for a smart mattress. Also, the growing penetration of smart devices, and continuous technology evolution, and increasing investments in R&D are driving the market in the region. Moreover, the presence of a maximum number of manufacturers in the U.S who are vigorously involved in technology up-gradation to endorse healthy and smart sleep patterns contributes to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Product
- Innerspring
- Latex
- Memory Foam
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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