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Analyzing the Growth Rate of the Smart Sleep Monitor Market: What’s the Expected CAGR for the Next Decade?

The market for smart sleep monitors has seen a swift expansion in past years. It is projected to enlarge from $25.41 billion in 2024 to $29.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 14.5%. The upward trend in previous years can be associated with the widespread popularity of wearable technology, the handiness of home-based sleep tracking, the application of these devices in patient monitoring, personalization in sleep solution options, and the cost-effectiveness of sleep apps.

Expectations are high for the smart sleep monitor market to expand significantly in the upcoming years, with a projected increase to $49.55 billion by 2029, reflecting a compound annual growth rate (CAGR) of 14.2%. Factors contributing to this potential growth over the forecast period include heightened interest in mental health, regulatory backing for sleep wellness programs, consumers’ preference for data-informed insights, the expansion of non-wearable options, and a heightened demand for smart sleep monitors. Anticipated trends for the forecast duration comprise consolidation with fitness gadgets, burgeoning alliances in the sector, escalated funding in sleep studies, high-end sensor technologies, and advancements in data analytics and AI.

What Key Drivers Are Accelerating the Growth of the Smart Sleep Monitor Market During the Forecast Period?

The smart sleep monitor market is projected to grow due to the increasing prevalence of sleep-related disorders. These conditions, which can negatively impact the amount, quality, or timing of sleep, can lead to excessive fatigue during the day. Factors driving the surge in sleep-related disorders include socioeconomic stressors, lifestyle changes, and an aging demographic. Advanced sleep monitors measure various elements, such as heart rate changes, breathing patterns, snoring, body temperature, and periods of restlessness, to study sleep behaviors and detect potential health issues. For example, SleepFoundation.org, a non-profit US organization committed to providing sleep health information and thorough product evaluations, revealed in May 2023 that persistent sleep disorders affected between 50 million and 70 million people. This increase was associated with post-traumatic stress disorder (PTSD). Besides, 70% of adults suffer from seasonal affective disorder (SAD). Therefore, the mounting prevalence of sleep-related disorders is propelling the growth of the smart sleep monitor market.

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What Are the Leading Organizations Impacting the Smart Sleep Monitor Market’s Growth?

Major companies operating in the smart sleep monitor market are:

• Apple Inc.

• Samsung Electronics Co. Ltd

• Xiaomi Corporation

• Nokia Inc.

• Koninklijke Philips NV

What Are the Most Prominent Trends Driving Change in the Smart Sleep Monitor Market?

Big firms in the smart sleep monitor market are prioritizing the creation of sophisticated services like AI-integrated smart sleep monitor devices to boost accuracy, offer tailored insights, and elevate user satisfaction. The term AI-integrated smart sleep monitor devices applies to advanced sleep monitoring technologies that use AI algorithms to study sleep patterns, forecast sleep quality, and provide personalized suggestions for sleep improvement. Take for example, Samsung Electronics Co. Ltd., an electronics company from South Korea, introduced the Galaxy Ring in July 2024. This device boasts a wide range of health-monitoring abilities, including sleep parameters like movement, sleep latency, heart rate, and respiratory rate. It also monitors menstrual cycles by undertaking overnight skin temperature measurements. Moreover, the ring provides constant heart rate tracking, warns users about erratic fluctuations, identifies and tracks different workouts automatically, and sends sedentary alerts to encourage physical activity.

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Which Segments Play a Crucial Role in the Expansion of the Smart Sleep Monitor Market?

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

What Regions Are Leading the Charge in the Smart Sleep Monitor Market?

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.

What Does the Definition of the Smart Sleep Monitor Market Include?

A smart sleep monitor is a device equipped with sensors and connectivity features designed to track and analyze various sleep metrics, such as sleep duration, stages, heart rate, and movement. It provides insights and recommendations to improve sleep quality through apps or other interfaces, often integrating with other smart home devices and health platforms.

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