SleepTech Magazine Mattress, Accessories, Machinery, Raw Materials
Kenneth Research, in its repository of market research reports, have recently added a report on Smart Bed Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Smart Bed Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Bed Market products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
In a recently published report, Smart Bed Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Bed Market products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Smart beds and mattresses replace the conventional functionality by a comfortable position to relax. A host of technical advances have been introduced to the bed to improve health, well-being and comfort. It comes with built-in biometric sensors that monitor body activity while sleeping, heart rate, sleep length, and breathing habits. The rising in demand for smart beds in hospitals is driving market growth. Smart beds are also useful for active patient control. Nonetheless, spending in the healthcare sector in developing countries is increasing leading to a rise in the development of smart beds. In fact, the rising in geriatric population also increases the need for smart beds and mattresses in hospitals. Hospitals choose smart beds to traditional beds because they have the potential to evaluate medical data in order to increase the level of treatment offered to patients. The rise in disposable income in developing countries enables citizens to buy comfort and quality products that, in effect, accelerate the development of the smart bed sector. The shift of lifestyle is also driving the growth of the industry, as consumers are seeking goods with digital technologies and artificial intelligence.
In addition, consumers are now being health conscious that encourages them to purchase smart beds and mattresses for healthy sleep. Manufacturers have been focusing on the production of new products with various applications, because there are specific requirements based on their application. Industries are interested in research and development in order to create new drug technologies. You introduce additional functionality to your smart bed, such as thermostat, blood pressure scale, air quality, and other apps. Thermostat is one of the technologies that allows smart mattresses and beds to lift and cool down the temperature of the mattress according to the needs of the user and the temperature of the room without actually impacting the feel of the mattress. Manufacturers are introducing a new Products to provide their clients with a better sleep environment. For instance, In February 2019, Eight Sleep, Smart mattress company, has launched smart mattress covers along with smart mattress which allows owners to change the temperature of the mattress and also establish specific temperatures on various sides of the room.
The regional analysis of global Smart Bed Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is projected to make a major contribution to the business surveyed owing to the growing global pattern of IoT adoption. The field is the most competitive market in the world owing to developing economies such as India and China. In addition, product advances by manufacturers in China, Korea and Japan are fueling the development of the smart bed industry in the world. The rise in per capita income in the country is also driving the development of the sector. One of the factors for Asia-Pacific to become the fastest-growing region is attributed to rising investment in the healthcare sector and its infrastructure.
