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Smart Mattress Market SWOT Analysis and Key Growth Factors
19 June 2019, Global smart mattress market is anticipated to witness an exponential growth in the forecast period. A smart mattress constitutes sleep-monitoring systems. Sensors located track motion, and the other vital records. The factors that propel the growth of the market include increasing investments in R&D, innovative mattresses with smart features, smart mattresses release electromagnetic radiations and are suggested for adults, increasing concern, growing hospitality and healthcare industry, surge in demand, growing disposable income, and increasing penetration of high-speed Internet and smartphones.
On the other hand, there are factors that may hamper the growth of the market including an increase in cost wars among existing vendors and lack of consciousness among the population. Smart mattress market is anticipated to expand at a significant CAGR of 11.16% in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market has emerged as a new trend, is rising investments in R&D activities to produce innovative mattresses with smart characteristics. In addition, these smart mattresses emit electromagnetic radiation and are thus not recommended for children.
Market could be explored by type, product type, application and geography. Market by type could span >60 inches, 40-60 inches, and <40 inches. The market could be segmented by product type as Latex Mattress, Foam Mattress, Innerspring Mattress and Other.
The key applications that could be explored in the market include Hospitals, Hotels, Private Households and Other. The “Hospitals” segment led the smart mattress market in 2016 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of the market includes increasing demand from hospitals and the healthcare industry and rising consciousness.
North America accounted for the major share of the smart mattress market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include high saturation of mattresses in this region, increasing investments in R&D activities on smart mattresses, acceptance of smart mattresses, increasing occurrence of sleep disorders and increased acceptance of the Internet. North America is followed by the Asia-Pacific region.
Some of the key players that fuel the growth of the smart mattress market comprise Eight Sleep, Sleep Number, Responsive Surface Technology, Kingsdown, Tempur Sealy International, Serta Simmons Bedding, Dellucci, Hilding Anders, Sleemon and Recticel. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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