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How has the smart sleep monitor market size evolved in recent years?

The market size of the smart sleep monitor has seen a brisk expansion in the past few years. It is projected to increase from $25.41 billion in 2024 to $29.1 billion in 2025, showing a compound annual growth rate (CAGR) of 14.5%. This upsurge in the historic span is due to the rising popularity of wearable technology, the ease of home monitoring, uses in patient monitoring, bespoke sleep solutions, and the cost-effective nature of sleep apps.

What are the predictions for the smart sleep monitor market size in the coming years?

The smart sleep monitor market size is expected to see rapid growth in the next few years. It will grow to $49.55 billion in 2029 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to a focus on mental health, regulatory support for sleep health initiatives, consumer demand for data-driven insights, a growing range of non-wearables, and increasing demand for smart sleep monitors. Major trends in the forecast period include integration with fitness devices, growing partnerships in the industry, increased investment in sleep research, advanced sensing technologies, and data analytics and AI.

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What key factors are fueling the growth of the smart sleep monitor market?

The escalating prevalence of sleep disorders is anticipated to boost the expansion of the smart sleep monitor market in the future. Sleep disorders are circumstances that interfere with regular sound sleep, negatively impacting its amount, quality, or timing, and potentially causing excessive sleepiness during the day. This increased prevalence is largely influenced by societal stress, changes in lifestyle, and an aging demographic. An advanced sleep monitor measures various indicators, such as heart rate changes, breathing patterns, snoring, body temperature, and wakefulness periods, to assess sleep behaviors and detect possible health issues. For example, in May 2023, SleepFoundation.org, a US-based non-profit organization committed to providing sleep health information and thorough product evaluations, stated that between 50 million and 70 million individuals suffered from chronic sleep disorders, with an increase associated with post-traumatic stress disorder (PTSD). Additionally, seasonal affective disorder (SAD) affects 70% of adults. Consequently, the escalating prevalence of sleep disorders is propelling the expansion of the smart sleep monitor market.

How is the global smart sleep monitor market divided into key segments?

The smart sleep monitor market covered in this report is segmented –

1) By Type: Wearable Devices, Non-Wearable Devices

2) By Technology: Sensing Technology, Computing Technology, Display Technology

3) By Application: Online Sales, Offline Sales

Subsegments:

1) By Wearable Devices: Smartwatches, Fitness Trackers, Sleep Headbands, Smart Rings, Wearable Sleep Sensors

2) By Non-Wearable Devices: Sleep Tracking Mats, Under-Mattress Sensors, Smart Pillows, Non-Wearable Sleep Bands, Bedside Sleep Monitors

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What are the top market players propelling the growth of the smart sleep monitor industry?

Major companies operating in the smart sleep monitor market are Apple Inc., Samsung Electronics Co. Ltd, Xiaomi Corporation, Nokia Inc., Koninklijke Philips NV, Garmin Ltd, ResMed Inc., Sleep Number Corporation, Fitbit LLC, Misfit Inc., Withings Corporation, Owlet Inc., Empatica Inc., Sibel Health Inc., Sleepiz AG, Eight Sleep, Early Sense Inc., Beddit Inc., Emfit Inc., Knownwell Corporation, Ultrahuman Inc., Onera Health Inc., Xsensio Inc.

How are evolving market trends shaping smart sleep monitor Strategies?

Major players in the smart sleep monitor market are increasingly focusing on the development of innovative solutions like artificial intelligence-fuelled smart sleep monitor devices to enhance precision, offer customized insights, and augment the user experience. AI-facilitated smart sleep monitor devices are essentially evolved sleep tracking systems that use AI algorithms to assess sleep patterns, prophesy sleep quality, and provide tailored suggestions to improve sleep quality. For example, Samsung Electronics Co. Ltd., an electronic appliances firm based in South Korea, in July 2024, introduced the Galaxy Ring, a device featuring comprehensive health monitoring features, including sleep-associated metrics like movement, sleep latency, pulse rate, and breath rate. The ring also features menstrual cycle tracking through overnight skin temperature measurement, consistent heartbeat tracking, alerts about unusual shifts in heart rate, automatic detection and tracking of different exercises, and alerts to encourage activity in case of inactivity.

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What regions are dominating the smart sleep monitor market growth?

North America was the largest region in the smart sleep monitor market in 2023. The regions covered in the smart sleep monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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