SMART BED MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

SMART BED MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Smart beds are available for residential and commercial purposes, with a range of features that can enhance the user experience in ways not possible otherwise.

Key Highlights

• The demand for a higher level of comfort from the developed areas is driving the market studied. Smart beds meet such demand by helping users sleep better.
• The rising adoption of smart beds in the healthcare sector is impelling the growth of the smart bed market, as they offer benefits, such as enhanced and intensive care of patients in hospitals and health benefits for residential consumers.
• New entrants can have a glimpse of the advancements in this emerging market. The semi-automatic type segment is leveraging the growth of the market.
• The growing young population and rise in disposable income are mainly driving the growth of the market. However, lack of expertise in manufacturing smart beds in various regions is a drawback for market growth. The low availability of these beds in the stores and less production rate are restraining the market growth.

Key Market TrendsThe Hospital Segment is Anticipated to Grow at a Higher Rate

Smart beds used in hospitals are majorly focused on improving patient management and helping a patient recover better. The market has gained significant traction in the healthcare sector, owing to continuous advancement in smart bed technologies, which enable the hospitals to deliver enhanced healthcare service to the patient. The rise in government investments in the hospitals to establish the latest technology equipment, along with smart beds, may lucratively boost the market's growth. The segment is projected to grow at a rapid pace during the forecast period, owing to the shift in patient preference and surge in demand for advanced healthcare facilities. An increase in the incidence of cardiovascular disorders is anticipated to drive the demand for smart beds, as these beds are embedded with integrated cardio monitoring sensors and devices that raise an alarm if a patient has a heart attack.

Asia-Pacific is Expected to Witness the Highest Growth

Asia-Pacific is expected to contribute significantly to the market studied, owing to the rising trend of IoT adoption in the market. The region is the most lucrative market across the world, owing to the emerging economies, such as India and China. Furthermore, product innovations by manufacturers in China, Korea, and Japan are fuelling the growth of the smart bed market in the region. Rise in per capita income in the region is also driving the growth of the market. One of the reasons for Asia-Pacific to become the fastest-growing market is due to the increasing investments in the healthcare industry and its infrastructure.

Competitive Landscape

The report covers major international players operating in the market studied. The market is dominated by players, such as Paramount Bed Co., Stryker Corporation, BodiTrak, Hill Rom Holdings Inc. and others. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Paramount Bed Co.
Stryker Corporation
BodiTrak
ArjoHuntleigh AB
Hill Rom Holdings Inc.
Sleepnumber
Invacare Corporation
Responsive Surface Technology
Hi
Interiors SRL
BAM Labs*

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.