08-Jan-2020 | Zion Market Research
Zion Market Research has published a new report titled “Sleep Tracker Market by Product (Wearable and Non-wearable); by Distribution Channel (E-Commerce, Retail Stores and Other Channels): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for sleep tracker market was valued at approximately USD 1.98 billion in 2018, and is expected to generate revenue of around USD 3.46 billion by end of 2025, growing at a CAGR of around 8.3% between 2019 and 2025.
Browse the full “Sleep Tracker Market by Product (Wearable and Non-wearable); by Distribution Channel (E-Commerce, Retail Stores and Other Channels): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2025” Report at https://www.zionmarketresearch.com/report/sleep-tracker-market
Sleep trackers assist monitoring of sleep in real time which allows users to analyze different sleep parameters like sleep length, consistency and quality of sleep, sleep issues like sleep apnea, snoring, time of each stage of sleep etc. Sleep trackers are of two types wearable and non-wearable. Wearable sleep trackers are available in various shapes and sizes ranging from niche wearable to smartwatches and fitness trackers. These devices are equipped with special hardware to monitor user’s movements and shifts during sleep. The hardware used in sleep trackers includes heart-rate monitor, pedometer, accelerometer, or calorie tracker. These hardware allow to identify movements during sleep and collect information which is evaluated by mobile software to determine sleep pattern.
The global sleep tracker market growth is fueled by various factors such as growing prevalence of various sleep disorders like sleep apnea, insomnia, snoring etc., increasing elderly population, technological advancements, increasing health awareness, increasing research and development activities and new product launches. However, high cost of devices may hamper the sleep tracker market growth over the forecast period. Emerging countries with increasing health awareness, increasing geriatric population and technological advancements are projected to open growth avenues for sleep tracker manufacturers.
The global sleep tracker market is segmented based on distribution channel, product and region. Based on product, market is split into wearable and non-wearable products. In 2018, wearable product segment held major revenue share and will register fastest growth in the coming years. This growth is attributed to increasing number of new product launches, ease of use of wearable products, technological advancements, growing incidence rate of sleep disorders and rising health awareness.
Based on distribution channel market is segmented into divided retail stores, E-commerce, and other channels. Among distribution channels, E-commerce segment will witness fastest growth over the forecast period owing to growing penetration rate of smart phones, availability of extensive range of products with attractive discounted price, growing number of E-commerce stores, and better convenience of product purchase.
At regional level, North America held dominating market share in 2018 for the sleep tracker market. This large share is attributed to growing prevalence of various sleep disorders such as sleep apnea, insomnia, snoring etc. along with high risk of sleep related disorders, presence of key players like Apple, FitBit and increasing health awareness. Europe was second leading regional market. Growing awareness and increasing elderly population are major factors that support the market growth in Europe. Latin America is projected to register steady and moderate growth in the coming years. Asia Pacific region will exhibit fastest growth for sleep tracker market during the forecast period. This high growth is attributed to growing number of elderly population in India, and China, sedentary lifestyle, increasing sleep disorder prevalence etc. Middle East and Africa is estimated to register noticeable growth in coming years.
Major players included in the report are ResMed, Withings, Emfit Ltd., Sleepace, Simmons Bedding Company, Garmin Ltd., Apple, Inc. and Fitbit among others.
The report segment of global sleep tracker market as follows:
Global Sleep Tracker Market: By Product
Global Sleep Tracker Market: By Distribution Channel
Global Sleep Tracker Market: By Region
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