Sleep Tracker Market Size & Share Report, Growth, Trends, 2032

Sleep Tracker Market Insights

According to a report from Zion Market Research, the global Sleep Tracker Market was valued at USD 28.03 Billion in 2023 and is projected to hit USD 74.67 Billion by 2032, with a compound annual growth rate (CAGR) of 11.5% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Sleep Tracker Market industry over the next decade.

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The report covers forecast and analysis for the sleep tracker market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints for the sleep tracker market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the sleep tracker market on a global as well as regional level.

In order to give the users of this report a comprehensive view on the sleep tracker market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.

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The report provides company market share analysis in order to give a broader overview of the key players in the sleep tracker market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the sleep tracker market on global and regional basis.

Sleep Tracker Market Segmentation

The study provides a crucial view on the sleep tracker by segmenting the market based on product, distribution channel and region. All the segments of sleep tracker market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Sleep trackers offer real time sleep monitoring which is helpful for a user to analyze various parameters such as sleep length, quality and consistency, time of each stage of sleep, sleep issues such as sleep apnea, snoring etc. Sleep trackers are available in various sizes and shapes from niche wearable to fitness trackers and smartwatches. To monitor user’s movements and shifts these devices use special hardware which include heart-rate monitor, accelerometer, calorie tracker or pedometer. These hardware identify movements during sleep and gather the information which is analyzed by mobile software to determine sleep pattern.

The demand for sleep tracker market is driven by increasing prevalence of sleep disorders such as insomnia, sleep apnea, snoring etc. Increasing prevalence of aged population, increasing health awareness, technological advancements, new product launches, and increasing research and development activities across the globe boost the market growth. However, high cost of devices may act as restraint for market growth. Emerging markets with increasing geriatric population and technological advancements are expected to bring new growth opportunities for sleep tracker manufacturers.

Based on product, global sleep tracker market is bifurcated into wearable and non-wearable products. Wearable product segment accounted for largest market share in 2023 and is expected to witness rapid CAGR over the forecast period. Ease of use of wearable products, increasing number of new product launches, technological advancements along with increasing prevalence of sleep disorders and growing health awareness are factors boosting the market growth of wearable product segment.

The distribution channel segment is divided E-commerce, retail stores and other channels. E-commerce distribution channel is projected to witness highest growth in the coming years due to increasing smart phone penetration, increasing number of online stores, availability of wide range of products at discounted price and greater convenience for product purchase.

The Regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Sleep Tracker Market: Report Scope

Sleep Tracker Market Regional Analysis

North America dominated the global sleep tracker market in 2018. Increasing prevalence of sleep disorders like sleep apnea, insomnia and increasing risk of sleep related disorders, growing awareness, presence of major players like FitBit, Apple are factors driving the market in this region. Europe was second largest regional market. Increasing awareness and growing aging population are some of the factors that boost the market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region is estimated to register highest growth for sleep tracker market in the coming years. Increasing aging population in China and India, changing lifestyle habits, sedentary lifestyle are some other factors promoting sleep tracker market growth in Asia Pacific. Middle East and Africa will see considerable growth in coming years.

Sleep Tracker Market Key Players

Major players included in the report are:

• Withings
• ResMed
• Sleepace
• Emfit Ltd.
• Garmin Ltd.
• Simmons Bedding Company
• Fitbit
• Apple Inc. 

The report segment of global sleep tracker market as follows:

Global Sleep Tracker Market: By Product

• Wearable
  • Smartwatch
  • Ring
  • Others
• Non-wearable
  • Bedside Non-wearable Sleep Tracker
  • Under Mattress Non-wearable Sleep Tracker
  • Under Sheet Non-wearable Sleep Tracker
  • Others

Global Sleep Tracker Market: By Distribution Channel

• E-Commerce
• Retail Stores
• Other Channels

Global Sleep Tracker Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa