The global smart mattress market size is expected to reach USD 2.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.6% over the forecast period. Factors such as growing popularity of smart homes, high-speed internet availability, increasing concerns over healthy sleep, and growing smartphone penetration are anticipated to drive the market.
Increasing R&D initiatives are boosting the growth of global market. Key manufacturers in the market are continuously investing in R&D activities to offer advanced mattress solutions and maintain a competitive edge over their competitors. These manufacturers are focusing on providing smart mattresses that emit fewer electromagnetic radiations and possess enhanced features. Some of the popular products are The Pod by Eight Sleep, Sleep IQ by Sleep Number, and RestBed.
Innerspring was the largest product segment with a share of 31.7% in 2018. Increasing cases of back problems associated with uncomfortable sleeping surfaces is the key factor boosting the growth of the segment. This, in turn, is driving the manufacturers to introduce advanced technology in this category. For instance, Eight Sleep offers three models of smart beds: Saturn, Jupiter, and Mars designed with multiple foam layers. Mars is equipped with smart technology integrated to hybrid innersprings and foam.
In terms of value, North America dominated the global market with a share of more than 60.0% in 2018. This is due to growing penetration of smart devices, continuous technology evolution, rising consumer awareness with regards to sleep, and increasing investments in R&D in the region. Majority of the demand is generated by U.S., which contributed a revenue share of 84.4% in 2018.
Some of the major players operating in the global market are Sleep Number, Eight Sleep, Kingsdown, Responsive Surface Technology, Serta Simmons Bedding, Tempur Sealy International, Hilding Anders, Derucci, Recticel and Sleemon. Companies in this industry are majorly focused on product launch to retain the consumer base as well cater to their changing preferences. For instance, in February 2019, Eight Sleep launched a new biometric-monitoring smart mattress that features a dual thermostat, which can either keep the bed warm in winters or cool in summers.
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Further key findings from the report suggest:
- North America held the largest smart mattress market share of more than 60.0% in 2018
- Innerspring accounted for 31.7% share of the total revenue in 2018, and is projected to exhibit a significant increase in the next few years.