A comprehensive overview of the Smart Bed market is recently added by UnivDatos Market Insights to its humongous database. The Smart Bed report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Smart Bed market. The Smart Bed report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Smart Bed at the global and regional levels. The Smart Bed Market is expected to grow at a CAGR of around 5% from 2021-2027.
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Market Overview
A rise in the aging population coupled with the emerging spine and back-related problems among consumers is leading to the growing demand for smart beds. As per United Nations, 56.2% of the global population now lives in cities and half of these people lived in towns of less than 500,000 inhabitants. The urban population of the world has grown rapidly from 751 million in 1950 to 4.2 billion in 2018. Asia, despite its relatively lower level of urbanization, is home to 54% of the world’s urban population, followed by Europe and Africa with 13% each. Today, the most urbanized regions include Northern America (with 82% of its population living in urban areas in 2018), Latin America and the Caribbean (81%), Europe (74%), and Oceania (68%). The level of urbanization in Asia is now approximating 50%. In contrast, Africa remains mostly rural, with 43% of its population living in urban areas.
COVID-19 Impact
The demand for smart beds witnessed a rise during the COVID-19 pandemic. Smart beds are connected with the EMRs that offer a range of medical data, including personal statistics, such as weight, heartbeat, blood, temperature, and other such vital signs. Several hospitals installed smart beds to continuously monitor patients’ respiratory and heart rates. However, due to imposed lockdown, halt in cross-border trade activities there were some disruptions in the supply chain, due hindered the market growth
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The Smart Bed Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
• Manual
• Semi-Automatic
• Automatic
The manual segment gathered a major market share of Smart Bed in 2020 and grabbed --% market share. The key factors attributed to the growing market of this share are the benefits such as low price as compared to automatic or semi-automatic beds, wide availability, etc. Moreover, the booming healthcare sector coupled with the opening of new hospitals, nursing centers, etc., is adding pace to the growing demand
By Application, the market is primarily bifurcated into
• Healthcare
• Hospitality
• Residential
• Others
The residential segment grabbed a major market in 2020. Rapid urbanization coupled with the emerging trend of smart homes and smart cities across the globe is leading to the greater demand for smart beds. The United Nations predicts that 70% of the world's population will be living in cities and urban areas by 2050.
Smart Bed Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the North America region grabbed a major market share in 2020. An increase in disposable income among consumers coupled with the rising end-users awareness in the region is leading to the growth of the market. Also, the growing popularity of smart homes and smart cities in the countries such as the U.S and Canada is leading to the growing demand for smart beds as well. The number of smart homes in the United States is expected to reach 77.05 million by 2025 up from 35.39 million in 2019.
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The major players targeting the market includes
• ArjoHuntleigh AB
• BodiTrak
• Hi-Interiors SRL
• Hill Rom Holdings Inc
• Invacare Corporation
• Joerns Healthcare LLC
• LINET spol. s r.o.
• Paramount Bed Co.Ltd
• Sleep Number Corporation
• Stryker Corporation
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Smart Bed market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Smart Bed Market?
· Which factors are influencing the Smart Bed market over the forecast period?
· What are the global challenges, threats, and risks in the Smart Bed Market?
· Which factors are propelling and restraining the Smart Bed Market?
· What are the demanding global regions of the Smart Bed Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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