Top 5 Trends worldwide Smart Beds Market Size: Key Statistics and Insights for Industry Growth

 

Overview

Smart beds come equipped with advanced technological functions that improve user comfort and offer health advantages. These beds contain various cutting-edge technologies aimed at enhancing health, sleep, and comfort. The global smart beds market is expected to grow from USD 3.6 Billion in 2023 to USD 5.5 Billion by 2033, at a CAGR of 5.6% during the forecast period 2023-2033. The increased demand for smart beds is due to advancements in living standards causing a rise in spending on sleep technology.

 

Competitive Landscape

The competitive smart bed market includes both established companies and innovative newcomers. Large companies in the industry are paying more attention to the growing popularity of smart beds and expanding their range of services to maintain their market position. In August 2020, Hi Interiors Srl gained attention with the launch of the HiAm bed, which features a 70-inch screen, audio system, ambient reading lights, and a 4K projector, aimed at improving entertainment and comfort in the bedroom. In January 2021, Corsicana Mattress Co. collaborated with Retail Service Systems (RSS) to introduce the Sleep2Win smart beds, allowing for the customization of sleep schedules. PARAMOUNT BED CO., LTD., Arjo AB, Sleep Number Corporation, Ascion, LLC, LINET spol. s r.o., and Hi-Interiors srl are all important companies in the market, bringing innovative products and strategic partnerships to the competitive landscape.

 

Smart Beds for Health Monitoring: AGE-WELL’s Initiative and North America's Growing Market Demand

AGE-WELL, Canada's Technology and Aging Network, is backing an innovative research initiative to study the potential benefits of using smart bed technology for health monitoring in older individuals. This project employs pressure sensor technology to forecast and stop health problems by studying movement, breathing, and fluid accumulation while sleeping. An important emphasis is on preventing pressure sores, especially for people who have difficulty shifting positions while lying down. Pressure sores, formed when skin is pressed against bony areas, can be highly painful, difficult to treat, and may result in infections. Researchers use a mat with numerous sensors under a mattress to monitor sleep activity and connect it with blood flow, using thermal imaging to locate areas of decreased circulation, like a chilly heel, which could indicate a pressure sore risk. The project imagines real-world uses such as alert systems in hospitals or long-term care settings, where a signal could remind caregivers to reposition patients, and in-home settings, where smart beds could alert family caregivers about repositioning needs. Furthermore, in 2022, North America held the majority of the market with a share of approximately 60%. The growing use of the internet in North America has led to a higher need for smart beds. Increasing smartphone usage, a rise in mobile cellular subscriptions, and higher internet usage are driving the demand for smart beds in North America. Various sleep-related disorders that are common in the U.S. are increasing the need for individuals to have better-quality sleep routines. The American Sleep Association reports that 50-70 million adults in the United States suffer from a sleep disorder. Additionally, approximately 25.0 million American adults suffer from obstructive sleep apnea.

 

The report provides a summary of the global top trends and future prospects for the global smart beds market based on historical data sets (current trends, industry statistics, and emerging trends shaping the smart bed industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global smart bed's trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions. 

 

Growth Factors and Emerging Trends in the Smart Beds Market

 

1. A rise in spending on smart home technology for health and comfort will boost the demand for smart beds.

Rapid advancements in technology have motivated customers to look for fresh methods to enhance their lives. The consumer's desire for the newest technologies and smart solutions has led to increased interest, offering numerous advantages to them. Rising consumer curiosity in developing a smart home environment has boosted the need for smart home accessories, such as smart beds, leading to an anticipated surge in product demand within residential areas. Xiaomi Corporation stated that since the beginning of the pandemic in March 2020, 70% of individuals have begun altering their living spaces, with nearly 51% buying a minimum of one smart home gadget during this time.

 

1. Growing Market Participants and their Advanced Technology in Smart Devices and Home Automation to Drive Market Expansion.

The market has been able to fulfill the hospitality sector's demand due to the product innovations of top manufacturers. In October 2020, Stryker Corporation introduced a smart bed called 'ProCuity' with built-in sensors and features, as well as Stryker's Secure Connect Technology for wireless integration with nurse call systems for smart patient monitoring. Many new players are closely targeting the evolving consumer needs worldwide and have tapped into online platforms to outperform competitors in the market. The competition moving quickly has given consumers many choices for selecting products, leading to a change in product purchase habits.

 

Opportunities and Future Prospects in the Smart Beds Market

 

Advancements in technology within the healthcare industry will increase the demand for products.

The healthcare industry's rapid technological advancements have led to an increased need for smart technologies, such as smart beds, to enhance patient care and the quality of treatments. Smart hospitals are experiencing a notable increase in the use of automation, digitization, and other technological advancements to improve treatment efficiency. This has led to a rise in the use of smart beds for monitoring sleep quality and other health factors. The rapid shift in technology towards providing care has increased the need for advanced products. In July 2021, Forbes reported that improvements in medical technology enable healthcare organizations to offer individualized care and take proactive steps in health crises. Moreover, these tools will provide additional chances for medical facilities to conduct testing. Technologies like 3-D printing, telemedicine, AI, AR, and VR are now being more and more integrated into healthcare systems, leading to a complete shift in the paradigm from previous times.

 

List of Key Companies in the Smart Beds Market

• Hi-Interiors Srl
• Hill-Rom Holdings Inc.
• Johnson & Johnson Inc.
• Paramount Bed Holdings Co., Ltd.
• Joerns Healthcare LLC
• Sleep Number Corporation
• Stryker Corporation
• Arjo AB
• ReST
• BodiTrak (Vista Medical Ltd.
• Others

 

Top 5 Key Players Profile in Smart Beds Market

 

1. Hi-Interiors

 

Headquarters: Milan, Lombardy

Hi-Interiors is an innovative company leading in smart furniture advancements, focusing on merging cutting-edge technology with contemporary design to improve living areas. Located in Italy, Hi-Interiors is well-known for creating the innovative HiAm bed, which includes advanced elements like a 70-inch screen, audio system, ambient reading lights, and a 4K projector, providing a special mix of comfort and entertainment. The company's main goal is to design furniture that is both stylish and useful, while also integrating advanced technology to enhance the lives of users. Hi-Interiors aims to combine modern design and smart technology to innovate traditional furniture and establish a prominent presence in the growing smart home solutions market.

 

2. BAXTER INTERNATIONAL INC.

 

Headquarters: Deerfield, Illinois

Baxter International Inc. is a worldwide frontrunner in healthcare, committed to enhancing medical technologies and solutions for better patient results. Established in 1931 and based in Deerfield, Illinois, Baxter focuses on various products and services such as renal care, infusion systems, and surgical products. The company is famous for its advancements in medical devices and treatments, like dialysis machines and infusion pumps, that are essential in critical and long-term care environments. Baxter's dedication to research and development fuels its goal of improving patient care with advanced technology and top-notch medical solutions. Baxter remains an influential figure in influencing the future of healthcare with its strong lineup of medical products and worldwide reach.

 

3. PARAMOUNT BED CO., LTD.

 

Headquarters: Tokyo, Japan

Established in 1950 in Tokyo, Japan, PARAMOUNT BED CO., LTD. is a top worldwide producer that focuses on top-notch healthcare and medical beds. The company is well-known for its creativity and skill in creating a variety of products such as hospital beds, nursing care beds, and advanced therapeutic mattresses. PARAMOUNT BED is dedicated to enhancing patient care and comfort with its advanced technology and ergonomic designs. The company emphasizes combining functionality with user-friendly features as they cater to healthcare institutions and home care settings around the globe. PARAMOUNT BED's strong international presence and commitment to research and development make it a major player in the healthcare and medical furniture sector.

 

4. STRYKER

 

Headquarters: Kalamazoo, MI

Stryker Corporation is a well-known worldwide medical technology company recognized for its groundbreaking solutions in various medical sectors. Established in 1941 and based in Kalamazoo, Michigan, Stryker creates and produces products for orthopedics, surgical equipment, neurotechnology, and spine care. The company's wide range of products includes joint replacement systems, trauma and extremities products, endoscopic and surgical visualization tools, and patient handling and emergency medical equipment. Stryker is well-known for its dedication to improving healthcare through innovation and quality, leading to better patient outcomes and more efficient healthcare delivery. The corporation is present in more than 100 countries, using its worldwide influence to meet the changing demands of healthcare providers and patients around the globe.

 

5. INVACARE CORPORATION

 

Headquarters: Elyria, Ohio

Invacare Corporation is a top worldwide supplier of creative medical products for home and long-term care, dedicated to improving the lives of people with disabilities and chronic illnesses. Originally founded in 1885 and based in Elyria, Ohio, Invacare focuses on a wide variety of items such as wheelchairs, mobility scooters, respiratory equipment, and homecare beds. The company is committed to providing solutions that uphold independence and wellness, utilizing cutting-edge technology and design to address the varying needs of its clientele. Operating in more than 80 nations, Invacare utilizes its vast industry knowledge and a focus on customer satisfaction to enhance healthcare results and promote an elevated quality of life for individuals globally.

 

Recent Developments

 

• In October 2022, Sleep Number introduces Climate360 Smart Bed. Beginning at a price point of $10,000, the innovative bed is designed to target temperature problems experienced by numerous individuals while sleeping.

 

• In March 2022, in its recent announcement, Invacare Corporation appointed Aron I. Schwartz, who is 51 years old, to its Board of Directors. Former managing director of ACON Investments, Mr. Schwartz contributes valuable finance and investment expertise to the board.

 

• In January 2022, India's The Sleep Company unveiled its latest product, the Elev8 Smart Adjustable Bed. As per the company's statement, the new intelligent bed includes a dual-zone massager and TV mode.

 

• In August 2021, Hi-Interiors SRL unveiled HiAm, a four-poster bed integrated with exciting functionalities aimed at promoting relaxation and leisure in the bedroom. The HiAm bed comes with ambient reading lights, an audio system, a 4K projector, and a 70-inch screen for entertainment while in bed.

 

• In January 2021, Corsicana Mattress Co. has collaborated with Retail Service Systems (RSS) to launch Sleep2Win Smart beds for personalized sleep routines.

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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