How Will the Sleep Tech Devices Market Grow? Key Trends and Opportunities for 2025 and Beyond
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What fueled the previous growth in the sleep tech devices market?
The market for sleep tech devices has seen quick expansion in the past few years. Its progression is set to continue, escalating from a worth of $22.01 billion in 2024 to $25.64 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 16.5%. Factors contributing to this past growth include labor deficits in farming, the requisition to enhance harvest output, emphasis on meticulous agriculture, sustainability objectives, along with cost reduction and productivity growth.
What will be the sleep tech devices market size in the future?
The market for sleep tech devices is predicted to experience a substantial expansion in the coming years. Its value is anticipated to reach “$49.92 billion in 2029, with a compound annual growth rate (CAGR) of 18.1%. The projected growth during the forecast period could be ascribed to aspects such as self-operating harvesting vehicles, predictive analysis for crop maturity, remote observation and manipulation, energy-effective harvesting strategies, and market proliferation into diverse crops and regions. The forecast period will witness key trends such as the utilization of automation and robots, the combination of AI and machine learning, precision farming practices, IoT-integrated harvesting machinery, selective harvesting aiming at quality enhancement, and data-led decision making.
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What main drivers are fueling expansion in the sleep tech devices market?
With the rise in sleep disorders, the sleep tech devices market is experiencing a surge in growth. These devices improve sleep quality by monitoring sleep patterns, providing exclusive advice, and aiding in the adoption of sound sleep practices. Additionally, they can be instrumental in diagnosing and observing sleep disorders by giving tailor-made feedback and ideas to enhance sleep quality. Sleep tech devices are becoming increasingly popular among those dealing with sleep issues to better their rest. For instance, as per the UK-based government agency, NHS Digital, in November 2023, 37.8% of children between the ages of 8 and 16 reported suffering from sleep issues three or more times in the past week. As such, the proliferating occurrence of sleep disorders is propelling the expansion of the sleep tech devices market.
What key areas define the segmentation of the global sleep tech devices market?
The sleep tech devices market covered in this report is segmented –
1) By Product Type: Wearable, Monitoring Devices, Smart Gadgets, Digital Tools, Other Types
2) By Age: Below 45 Years, 45–64 Years, Above 65 Years
3) By Distribution Channel: Sleep Centers And Fitness Centers, Hyper markets And Super markets, E-Commerce, Pharmacy And Retail Stores, Other Channels
4) By Application: Insomnia, Obstructive Sleep Apnea, Narcolepsy, Other Applications
Subsegments:
1) By Wearable: Smartwatches, Fitness Trackers, Sleep Headbands
2) By Monitoring Devices: Sleep Monitors, Bed Sensors, Smart Mattresses
3) By Smart Gadgets: Sleep Masks with Built-In Speakers, Smart Alarm Clocks, Sleep Therapy Machines
4) By Digital Tools: Sleep Apps, Online Sleep Programs, Sleep Journals
5) By Other Types: White Noise Machines, Essential Oil Diffusers, Smart Lighting Solutions
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Who are the dominant players expanding their reach in the sleep tech devices market?
Major companies operating in the sleep tech devices market include Masimo Corporation, Koninklijke Philips N.V., Fitbit Inc., Xiaomi Corporation, Apple Inc., Eight Sleep, Oura Health Oy, Nihon Kohden Corporation Inc., Casper Sleep, Compumedics Limited, ResMed Inc., Withings, Samsung Electronics Co. Ltd., ASUSTek Computer Inc., Motorola Mobility LLC, Apollo Neuroscience Inc., Nokia Corporation, Huawei Technologies Co. Ltd., Sleep Shepherd LLC, Sleepace, Fossil Group Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Emfit Ltd., Beacon Biosignals Inc., Beddit Oy, SleepScore Labs, ZANSOR, Somnox, Sleep Cycle
How are evolving market trends shaping sleep tech devices Strategies?
Leading businesses in the Sleep Tech Devices market are centering their efforts on the innovation of advanced technologies, such as artificial intelligence (AI)-driven sleep solutions, with the aim of improving sleep quality. AI-driven sleep solutions involve utilizing AI tech to observe, scrutinise, and boost sleep cycles and quality. These solutions are incorporated in sleep tech devices like smart mattresses or wearable trackers to maximize sleep quality using data-driven insights and instantaneous feedback. An instance of this is the Zense range launched by Wakefit, an Indian furniture firm, in June 2024. The launch of two groundbreaking products, Regul8 and Track8, under the Zense range marks the premiere of India’s maiden AI-driven sleep solutions, designed to improve sleep quality and monitoring. These products boast of features like temperature controllers and customization via sophisticated AI algorithms.
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Which regions are emerging as leaders in the sleep tech devices market?
North America was the largest region in the sleep tech devices market in 2024. Asia-Pacific is expected to be the fastest growing region in the global sleep tech devices market during the forecasted period. The regions covered in the sleep tech devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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