Sleep Tech Devices Global Market Is Expected To Grow At A Rate Of More Than 17% Through 2023 – 2027
19 Jul, 2023
The global sleep tech devices market size is expected to grow from $16.44 billion in 2022 to $19.14 billion in 2023 at a compound annual growth rate (CAGR) of 16.41%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global sleep tech devices market size is expected to reach $36.03 billion in 2027 at a CAGR of 17.13%.
Global Sleep Tech Devices Market Key Driver
The rising prevalence of sleep disorders will boost the market for sleep technology products. Sleep technology devices monitor and enhance sleep quality by collecting data and insights into sleep patterns, making personalised suggestions, and promoting the adoption of healthy sleeping habits. They can also assist in the diagnosis and monitoring of sleep disorders, as well as providing personalised feedback and ideas to enhance sleep quality. People with sleeping issues are increasingly turning to sleep technology to assist them enhance the quality of their sleep.
Get a sample of the global sleep tech devices market reportGlobal Sleep Tech Devices Market Segments
The global sleep tech devices market 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
5) By Geography: The regions covered in the sleep tech devices market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global sleep tech devices market.
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
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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.