The global smart mattress market size is expected to reach USD 2.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.6% over the forecast period. Factors such as growing popularity of smart homes, high-speed internet availability, increasing concerns over healthy sleep, and growing smartphone penetration are anticipated to drive the market.
The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
Some of the major players operating in the global market are Sleep Number, Eight Sleep, Kingsdown, Responsive Surface Technology, Serta Simmons Bedding, Tempur Sealy International, Hilding Anders, Derucci, Recticel and Sleemon. Companies in this industry are majorly focused on product launch to retain the consumer base as well cater to their changing preferences. For instance, in February 2019, Eight Sleep launched a new biometric-monitoring smart mattress that features a dual thermostat, which can either keep the bed warm in winters or cool in summers.
Increasing R&D initiatives are boosting the growth of global market. Key manufacturers in the market are continuously investing in R&D activities to offer advanced mattress solutions and maintain a competitive edge over their competitors. These manufacturers are focusing on providing smart mattresses that emit fewer electromagnetic radiations and possess enhanced features. Some of the popular products are The Pod by Eight Sleep, Sleep IQ by Sleep Number, and RestBed.
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Innerspring was the largest product segment with a share of 31.7% in 2018. Increasing cases of back problems associated with uncomfortable sleeping surfaces is the key factor boosting the growth of the segment. This, in turn, is driving the manufacturers to introduce advanced technology in this category. For instance, Eight Sleep offers three models of smart beds: Saturn, Jupiter, and Mars designed with multiple foam layers. Mars is equipped with smart technology integrated to hybrid innersprings and foam.
Further key findings from the report suggest:
North America held the largest smart mattress market share of more than 60.0% in 2018
Innerspring accounted for 31.7% share of the total revenue in 2018, and is projected to exhibit a significant increase in the next few years.
In terms of value, North America dominated the global market with a share of more than 60.0% in 2018. This is due to growing penetration of smart devices, continuous technology evolution, rising consumer awareness with regards to sleep, and increasing investments in R&D in the region. Majority of the demand is generated by U.S., which contributed a revenue share of 84.4% in 2018.
The global smart mattress market size was valued at USD 1.0 billion in 2018 and is expected to expand at a CAGR of 10.6% from 2019 to 2025. Smart mattresses are typically designed to track the sleep of a person. As known, the amount and quality of sleep has a lasting impact on human health. A smart mattress is equipped with a technology that tracks and sends out information about the adequate amount of sleep a person is getting.
These mattresses can also analyze breathing and heart rates, which helps in calculating how much time a person has spent in REM (rapid eye movement sleep) and deep sleep. A number of smart mattresses also come with climate control ability by providing onboard heating system on cold nights while some mattresses can create flows of cool air on demand. Factors such as high-speed internet availability and growing smartphone penetration are encouraging consumers across the world to use smartphones to monitor their sleep pattern.
Furthermore, connected smart home devices are becoming extremely popular with consumers around the world. Such smart devices with enhanced network coverage, coupled with innovative technologies, are enabling an increased use of smart mattress over the years. Moreover, improving integration of communication technologies such as LTE, 4G, and 3G with connected devices is expected to boost demand for smart mattresses in the foreseeable future.
Increasing R&D initiatives are boosting growth of the global market. Key manufacturers in the market are continuously investing in R&D activities to offer smart mattress solution and maintain a competitive edge over their competitors. These manufacturers are focusing on providing smart mattresses that emit fewer electromagnetic radiations and possess enhanced features. Some of the popular smart mattresses are The Pod by Eight Sleep, Sleep IQ by Sleep Number, and RestBed.
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Grand View Research has segmented the global smart mattress market on the basis of product:
Smart Mattress Product Outlook (Revenue, USD Million, 2015 - 2025)
Innerspring
Latex
Memory Foam
Others
Innerspring was the largest product segment, accounting for a share of 31.7% in 2018. Increasing cases of back problems associated with uncomfortable sleeping surfaces is the key factor fueling the growth of the segment. This is driving the manufacturers to introduce smart technology in this category. In emerging economies like Brazil and China, increasing number of affluent consumers is also boosting the demand for premium innerspring mattress, thereby driving the integration of technology in it. Eight Sleep offers three models of smart beds: Saturn, Jupiter, and Mars designed with multiple foam layers. Mars is equipped with smart technology integrated to hybrid innersprings and foam.
Some of the major players operating in the global market are Sleep Number, Eight Sleep, Kingsdown, Responsive Surface Technology, Serta Simmons Bedding, Tempur Sealy International, Hilding Anders, Derucci, Recticel and Sleemon. Companies in this industry are majorly focused on product launch to retain the consumer base as well cater to their changing preferences. For instance, in February 2019, Eight Sleep launched a new biometric-monitoring smart mattress that features a dual thermostat, which can either keep the bed warm in winters or cool in summers.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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