Smart Bed Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast

Smart Bed Market valued USD 2.6 billion in 2016 owing to rising implementation in hospitals across the globe. Further, the market is anticipated to expand at a CAGR of 7.9% to reach USD 4.8 billion over the forecast period i.e. 2016-2024
 
 
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PUNE, Macao - Dec. 11, 2018 - PRLog -- Global Smart Bed Market valued USD 2.6 billion in 2016 owing to rising implementation in hospitals across the globe. Further, the market is anticipated to expand at a CAGR of 7.9% to reach USD 4.8 billion over the forecast period i.e. 2016-2024.

Smart beds refer to technological advancement of beds that provides users to extend their beds beyond their conventional functionality, by automatically optimizing the settings of bed according to the comfort of users. Smart beds help in enhancing the comfort and provide health benefits to the user. Thermostat is one of its specifications which allow smart beds to warm and cool down the temperatures of the mattresses according to the room temperature or according to the user without actual loosing the feel of mattresses. Smart beds (http://www.planetmarketreports.com/report-sample/global-smart-bed-market-3149) came into existence because of the pressure mapping, to record and measure the pressure on joints of the body which can lead to the health issues. Additionally, these beds can monitor blood pressure, heart beats, movements, air pressure and snoring.  Smart beds market is at its initial stage of mass production and sales are increasing at low pace. Smart beds are more useful in hospitals which help in remote monitoring and mobility of patients as smart beds are equipped with sensors and remote monitoring systems. For instance, BAM Labs has developed an innovative touch-free smart bed technology that provides interpretive capabilities through bio-signal processing. BAM Labs cloud based solution also provide flexible platform that can monitor the conditions such as arrhythmias and apneas.

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Market Segmentation

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

Growth Drivers and Challenges

Rising integration of IoT technology and emerging concept of smart homes significantly boosted the demand of smart living products. In Europe and USA there will be 68 million smart homes by 2024 which are likely to impel the growth of smart bed technology in these regions.

There is also huge demand of smart beds in the hospitals as compare to the residential sector as these beds are very useful in remote monitoring of patients. Rising expenditures of developing countries over healthcare sector and growing geriatric populations increased the demand of smart beds in hospitals. Moreover, smart beds are highly preferred by the hospitals nowadays as these beds provide capabilities to analyze information of patient which helps in improvement of patient care. Smart beds in hospitals are connected to the EMR network which helps the nurse monitor patient statistics such as movement and weight changes.

However, the high cost related to smart beds is major challenge for the market players, as smart beds are majorly consist of sensors and complex engineering. Regular and costly maintenance of these beds is also the major growth barrier for the smart bed market.

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Market Size and Forecast

Geographically, North America accounted for the largest market for global smart bed market. North America shares about 28% of revenue share in the total smart bed market. The United States holds the largest share in North America followed by Canada. North America region is closely followed by the Europe with around 25% revenue share in the global smart bed market with United Kingdom, Germany and France as the major contributor to the market growth in Europe. Asia-Pacific region is expected to showcase a healthy growth over the forecast period owing to developing healthcare sector in the region.

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