Smart Bed Market is Anticipated to Expand at a CAGR of 7.9% to Reach USD 4.8 Billion Over the Forecast Period

Rising expenditures over the healthcare sector across the globe and growing geriatric populations increased the demand for smart beds in hospitals. Further, increasing penetration of smart technologies such as IoT and Artificial Intelligence will further boost the growth of smart bed technology over the forecast period. Smart Beds Market outlook also includes new technological innovations, product developments and capital investment as the key strategies adopted by the major players for a significant expansion of business in developed and as well as in developing countries across the globe. However, the high cost related to smart beds is a major challenge for the market players, as smart beds majorly consist of sensors and complex engineering.
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Market Segmentation
On the basis of our in-depth analysis, global smart bed market can be segmented as follows:
By Product Type

• Manual
• Semi-Automatic
• Fully-Automatic

By End Users

• Residential
• Hospitals
• Other (Luxury Hotels etc.)

By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion) }
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion) }
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion) }

“Global Smart Bed Market Outlook 2024” contains detailed overview of the global smart bed market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by product and by end users.
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Further, for the in-depth analysis, Smart Bed Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Stryker Corporation, BodiTrak, ArjoHuntleigh ABetc, Hill Rom Holdings Inc., Invacare Corporation, Responsive Surface Technology, Hi-Interiors SRL. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global smart bed market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Smart Bed Market is driving on the basis of advancement in mentioned below industries:
Temperature Sensors Market
Temperature sensors are an essential part across various everyday products such as household equipment namely ovens, microwaves and refrigerators among others. Temperature Sensors Market is set to harness market revenue of USD 7.55 billion by 2025 growing at a CAGR of 4.71% over the forecast period (2017-2025).
Furniture Market
Furniture Market is largely witnessed to be driven by rising urbanization and simultaneously rising personal disposable income of people. Global furniture market is expected to reach USD 550.0 billion by 2024 from USD 400 billion in 2016, growing at a CAGR of 4.2% over the forecast period 2016-2024. Global furniture market breakdown includes material types such as wood, plastic, metal, leather and glass.
Pressure Sensor Market
Pressure sensors have a wide application from automobiles to medical to heating, ventilation, and air-conditioning (HVAC). With the advancing technologies, engines are getting smaller and hotter such as in automobiles, it requires the need of pressure and other sensors for a successful operation of the machines. Pressure Sensors Market is set to harness market revenue of USD 12.7 billion by 2025 growing at a CAGR of 5.5% over the forecast period (2017-2025).
Mattress Market
The personal disposable income of a person and their support and comfort requirement are majorly driving the growth of the market. Low-income group of people and a percentage of masses, in general purchase the mattress from the local vendors or they make a mattress on their own. Mattress Market is set to reach USD 45.1 billion by 2024, growing at a CAGR of 6.82% over the forecast period (2017-2025).