Michael Barbella, Managing Editor06.24.22
Rest assured, the global sleep tracking products market is expected to more than triple this decade with the rise of sleep-related disorders and increasing numbers of people trying to improve their average daily slumber.
Kenneth Research estimates the worldwide smart sleep tracking products market to swell from $2.63 billion in 2019 to $11.23 billion by the end of 2028, growing 17.5% annually. The market growth can be attributed to increasing demand for smart products and the growing number of internet users. According to International Telecommunication Union (ITU) data, the number of internet users globally rose from 1 billion in 2005 to 4.9 billion last year.
Worldwide, about 28% of individuals sleep for seven hours on average; during weeknights, individuals slept an average of 6.8 hours, while during weekends, it was about eight hours. The recommended hours of sleep is eight hours. Furthermore, it has been reported that a person experiences four to six sleep cycles in a normal sleep period. In healthy adults, rapid eye movement (REM) sleep comprised between 20% and 25% of total sleep only, and metabolism dropped by about 15% during non-rapid eye movement (NREM) sleep.
Sleep-related disorders are a major global concern. Backed by the rising concern for lack of sleep amongst individuals, there has been a growing need amongst individuals to find ways to improve their sleep. Around 80% of adults worldwide want to improve the quality of their sleep, as about 70% of individuals report waking up at least once during the night, and only about 10% admitting they sleep extremely well. Lack of sleep is known to cause disorders such as insomnia, sleep apnea, narcolepsy, REM sleep behavior disorder, and others. Owing to such rising concerns for sleep-related disorders, there is a growing demand for sleep tracking products, which is expected to contribute to the worldwide market growth.
The global smart sleep tracking products market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American market generated the largest revenue ($1 billion) in 2019 and is expected to reach $4.5 billion by the end of 2028. The market's growth is attributable to the growing prevalence of sleep disorders, particularly in the United States. According to American Sleep Association (ASA) statistics, between 50 million and 70 million U.S. adults suffer from sleep disorders, with 48% reporting snoring and 37.9% reporting unintentionally falling asleep during the day at least once in the preceding month. ASA data also show that 25 million U.S. adults had obstructive sleep apnea, whereas 37% of 20-39 year-olds and 40% of 40-59 year-olds reported having short sleep duration. The North American market is further segmented by country into the United States and Canada. The U.S. market is projected to garner the highest share by the end of 2028 and also achieve highest compound annual growth rate (CAGR)—18.98%—during the forecast period.
Europe's smart sleep tracking products market registered $785.7 million in 2019 and is expected to reach $3.29 billion by the end of 2028. The market is segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. The U.K. market is projected to have the largest revenue ($675.95 million) by the end of 2028, up from $136.45 million in 2019. The U.K. market is also expected to have the highest CAGR—19.46%— during the forecast period. The German market is projected to garner the second-largest revenue ($646.61 million) by the end of 2028, up from $142.75 million in 2019.
The global smart sleep tracking products market is segmented on the basis of price range into economy, medium, and premium. The medium segment generated the largest revenue ($5.13 billion) in 2019 and is expected to reach ($17.08 billion by the end of 2028. The North American segment generated the largest revenue ($480.19 million) in 2019 and is expected to reach $2.29 billion by the end of 2028, while the European segment is projected to garner the largest revenue ($1.68 billion) by the end of 2028, up from $374.29 million in 2019.
The global smart sleep tracking products market is further segmented by end-user into homecare, healthcare facilities, and rehabilitation and long-term care providers. The homecare segment generated the largest revenue ($1.22 billion) in 2019 and is expected to reach $5.72 billion by the end of 2028. The North American segment is projected to garner the largest revenue ($2.29 billion) by the end of 2028, up from $468.95 million in 2019. The Asia Pacific segment generated $190.98 million in revenue in 2019 and is expected to reach $1 billion by the end of 2028.
Kenneth Research estimates the worldwide smart sleep tracking products market to swell from $2.63 billion in 2019 to $11.23 billion by the end of 2028, growing 17.5% annually. The market growth can be attributed to increasing demand for smart products and the growing number of internet users. According to International Telecommunication Union (ITU) data, the number of internet users globally rose from 1 billion in 2005 to 4.9 billion last year.
Worldwide, about 28% of individuals sleep for seven hours on average; during weeknights, individuals slept an average of 6.8 hours, while during weekends, it was about eight hours. The recommended hours of sleep is eight hours. Furthermore, it has been reported that a person experiences four to six sleep cycles in a normal sleep period. In healthy adults, rapid eye movement (REM) sleep comprised between 20% and 25% of total sleep only, and metabolism dropped by about 15% during non-rapid eye movement (NREM) sleep.
Sleep-related disorders are a major global concern. Backed by the rising concern for lack of sleep amongst individuals, there has been a growing need amongst individuals to find ways to improve their sleep. Around 80% of adults worldwide want to improve the quality of their sleep, as about 70% of individuals report waking up at least once during the night, and only about 10% admitting they sleep extremely well. Lack of sleep is known to cause disorders such as insomnia, sleep apnea, narcolepsy, REM sleep behavior disorder, and others. Owing to such rising concerns for sleep-related disorders, there is a growing demand for sleep tracking products, which is expected to contribute to the worldwide market growth.
The global smart sleep tracking products market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American market generated the largest revenue ($1 billion) in 2019 and is expected to reach $4.5 billion by the end of 2028. The market's growth is attributable to the growing prevalence of sleep disorders, particularly in the United States. According to American Sleep Association (ASA) statistics, between 50 million and 70 million U.S. adults suffer from sleep disorders, with 48% reporting snoring and 37.9% reporting unintentionally falling asleep during the day at least once in the preceding month. ASA data also show that 25 million U.S. adults had obstructive sleep apnea, whereas 37% of 20-39 year-olds and 40% of 40-59 year-olds reported having short sleep duration. The North American market is further segmented by country into the United States and Canada. The U.S. market is projected to garner the highest share by the end of 2028 and also achieve highest compound annual growth rate (CAGR)—18.98%—during the forecast period.
Europe's smart sleep tracking products market registered $785.7 million in 2019 and is expected to reach $3.29 billion by the end of 2028. The market is segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. The U.K. market is projected to have the largest revenue ($675.95 million) by the end of 2028, up from $136.45 million in 2019. The U.K. market is also expected to have the highest CAGR—19.46%— during the forecast period. The German market is projected to garner the second-largest revenue ($646.61 million) by the end of 2028, up from $142.75 million in 2019.
The global smart sleep tracking products market is segmented on the basis of price range into economy, medium, and premium. The medium segment generated the largest revenue ($5.13 billion) in 2019 and is expected to reach ($17.08 billion by the end of 2028. The North American segment generated the largest revenue ($480.19 million) in 2019 and is expected to reach $2.29 billion by the end of 2028, while the European segment is projected to garner the largest revenue ($1.68 billion) by the end of 2028, up from $374.29 million in 2019.
The global smart sleep tracking products market is further segmented by end-user into homecare, healthcare facilities, and rehabilitation and long-term care providers. The homecare segment generated the largest revenue ($1.22 billion) in 2019 and is expected to reach $5.72 billion by the end of 2028. The North American segment is projected to garner the largest revenue ($2.29 billion) by the end of 2028, up from $468.95 million in 2019. The Asia Pacific segment generated $190.98 million in revenue in 2019 and is expected to reach $1 billion by the end of 2028.