Smart sleep tracking devices used to gather information about sleep data and give a detailed analysis of the person's sleep. By that data one to know the time and duration of deep sleep and heart rate per section of time. It also had movement sensors, which states about the movement of an individual while sleeping. While there are some specific devices which also give data about the Pulse and sleep conversion rate on one side of the bed to the other side of the bed. This device also gives full tracking of light, compare sleep score against the average for people with similar age and gender and measure light, noise, and temperature in the bedroom and deep & rapid eye movement sleep stages.
The Global Smart Sleep Tracking Device Market was valued at $ 1.75 bn in 2018 and is forecasted to grow at a significant 18.7% CAGR between 2018 and 2026, resulting in 2026 global sales of $6.89bn. Market-driven by increasing aging population across the globe coupled and growing personal disposable income are some of the components boosting the market. However, lower adoption of a smart sleep tracking device by consumers and the high cost of smart sleep tracking devices in some regions are the components hindering the market. Moreover, growing awareness of sleep as a health concern will provide ample opportunities to the market.
Smart Sleep Tracking Device Market depending on treatment, Wearable segment is expected due to it provides sleep tracking, combine activity and some with coaching telling how people slept after a more active or lazy day. This wearable device is entirely dependent on brain activity monitoring for tracking sleep and it also serves as an activity and fitness monitor with GPS. It also provides vibrating sleep schedule reminders and alarms in the morning.
The Global Smart Sleep Tracking Device Market is segmented based on Treatment, Technology, Distribution Channel, Application and Regions
Based on the Treatments: Wearable and non-wearable
Based on the Technologies: Sensors, Electroactive Polymer, Electroencephalography, Electrooculography, Electromyography, Electrocardiography and Pulse Oximetry Device
Based on the Distribution Channels: Online and Offline
Based on the Applications: Insomnia, Sleep Apnea, and Others
Based on Regions: North America, Asia-Pacific, Europe, and LAMEA. Among that North America region is projected to witness high growth during the forecast period due to extensive usage of these compact devices in the sleep apnea treatment, technological advancement in the region, rapid development is believed to flourish the growth of the market in the region. Moreover, the presence of key players in the market and the high demand for healthcare devices.
The key players of the Global Smart Sleep Tracking Device Market include Fitbit Inc, Garmin Ltd, Huami Corporation, Huawei Technologies Co., Ltd, Beddit Oy, LVL Technologies, Inc, etc..
Report Description: The report covers an in-depth analysis of the Global Smart Sleep Tracking Device Market. The report assesses the market products pipeline by treatment (Wearable and Non-wearable), by technology (Sensors, Electroactive Polymer, Electroencephalography, Electrooculography, Electromyography, Electrocardiography and Pulse Oximetry Device), by distribution channel (Online and Offline) by application (Insomnia, Sleep Apnea, and Others). In addition, the report includes key insights on other development activities, including (but not limited to) – licensing (In and Out), collaborations, acquisitions, reimbursement, patent, and regulatory designations.
The report includes in-depth company profiles of key players in the Global Smart Sleep Tracking Device Market. The company profile includes key information on the overview, financial highlights, product portfolio, business strategies, and key recent developments.
The report highlights information on emerging companies with potentially disruptive technologies and new market entrants.
Data Collation (Primary & Secondary)
In-house Estimation (Based on proprietary databases and Models)
Market-related information is assembled from both primary and secondary sources.
Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others.
Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.