Smart sleep tracking device helps in tracking sleep and analyzing a person's sleep time to give beneficial insights for better health. The device provides a detailed breakdown of sleep stages in simple graphs form. It also keeps track of the heart rate, breathing and snoring, time asleep, bedroom humidity, and temperature. Some sleep devices also have features such as sleep reminders, alarms, sleeping coaching, and others.
MARKET SCOPE
The "Global Smart Sleep Tracking Device Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the smart sleep tracking device market with detailed market segmentation by type, technology, distribution channel, and geography. The report provides key statistics on the market status of the leading smart sleep tracking device market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global smart sleep tracking device market is segmented into wearable devices and non-wearable devices.
- Based on technology, the market is segmented into sensing technology, computing technology and display technology.
- On the basis of distribution channel, the market is bifurcated into hypermarket/supermarket, online retail, sports store and others.
MARKET DYNAMICS
Drivers:
- Increase in the awareness among people about the health and sleep conditions.
- Rise in sleeping disorders.
- Technological advancements in smart sleep tracking devices.
- Increase in disposable income worldwide.
Restraints:
- Duplicate smart sleep tracking products.
- High cost of smart sleep tracking devices.
- Less adoption of smart gadgets in developing and underdeveloped economies.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart sleep tracking device market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart sleep tracking device market in these regions.
IMPACT OF COVID-19ON SMART SLEEP TRACKING DEVICE MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The outbreak of the pandemic has bought a change in the way life and market function. The restrictive measures like lockdowns to prevent the spread of the virus have made the situation even more vulnerable. Also, due to disruptions in the supply chain and a halt in global operations, the smart sleep tracking devices market growth was affected. The shutdown of plants and factories affected the worldwide supply chains along with the market's manufacturing and product sales. Few companies have already announced slight delays in their product deliveries and a slump in future sales. Therefore, the growth of the market was affected due to the ongoing pandemic.
MARKET PLAYERS
The report covers key developments in the smart sleep tracking device market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart sleep tracking device market are anticipated to have lucrative growth opportunities in the future with the rising demand for smart sleep tracking device in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart sleep tracking device market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Nokia Corporation
- Philips Healthcare
- Fitbit, Inc.
- Apple Inc.
- Emfit Ltd.
- ResMed
- Beddit
- Samsung Group
- Garmin Ltd.
- Sleepace