Global Sleep Tech Devices Market Size 2024, Forecast To 2033
6 Mar, 2024
The sleep tech devices market has experienced rapid growth, surging from $19.14 billion in 2023 to $22.35 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 16.8%. This growth in the historic period is attributed to factors such as labor shortages in agriculture, the increasing pressure to enhance crop yields, a focus on precision agriculture, sustainability goals, and the pursuit of cost savings and efficiency gains. Looking ahead to 2028, the sleep tech devices market is poised for rapid growth, reaching $42.8 billion at a CAGR of 17.6%. The forecast period is expected to see growth driven by the adoption of autonomous harvesting vehicles, the implementation of predictive analytics for crop ripeness, advancements in remote monitoring and control, energy-efficient harvesting solutions, and the expansion of the market to various crops and geographies. Key trends in the forecast period encompass the widespread adoption of automation and robotics, integration of AI and ML technologies, the application of precision agriculture techniques, IoT-enabled harvesting equipment, selective harvesting for quality improvement, and data-driven decision-making.
Global Sleep Tech Devices Market Key Driver
The increasing prevalence of sleep disorders is expected to boost the sleep tech devices market. Sleep tech devices, designed to monitor and enhance sleep quality by providing data, insights into sleep patterns, and personalized recommendations, are becoming crucial for addressing sleep-related issues. They aid in diagnosing and monitoring sleep disorders, offering personalized feedback to improve sleep quality. In June 2021, the American Psychological Association (APA) reported that sleep problems increased from 36% before the pandemic to over 50%. As people increasingly turn to sleep tech devices to enhance their sleep quality, the growing prevalence of sleep disorders becomes a driving force behind the sleep tech devices market's expansion, with market sizes corresponding to values for 2023, 2024, and 2028.
Get A Free Sample Of The Global Sleep Tech Devices Market ReportGlobal Sleep Tech Devices Market Segments
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, Hypermarkets And Supermarkets, E-Commerce, Pharmacy And Retail Stores, Other Channels
4) By Application: Insomnia, Obstructive Sleep Apnea, Narcolepsy, Other Applications
By Geography:The regions covered in the sleep tech devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the sleep tech devices market in 2023. 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
Major Sleep Tech Devices Industry Players
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
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Sleep Tech Devices Market Overview
Sleep tech devices are technological tools designed to monitor and improve sleep quality. Sleep tech devices also help to provide individuals with data and insights into their sleep patterns.
Sleep Tech Devices Global Market Report 2023 provides data on the global sleep tech devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sleep tech devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.