The global smart bed products market is projected to grow at a CAGR of 10.2% from 2023 to 2030. Smart beds are gaining traction due to their ability to optimize sleeping experience by integrating advanced technology such as motion sensors, temperature control, and massage functions. These beds are designed with adjustable base and mattress, which help to customize the sleeping position, as per the user’s body type and comfort level. Furthermore, rising health awareness and growing importance of a good night’s sleep are driving the demand for smart beds.

The increasing trend of connected homes and rising disposable income are driving the market. New products such as wireless charging, Bluetooth connectivity, and smartphone applications are providing a competitive edge to the market players. For instance, in November 2021, Sleep Number launched a new adjustable bed that has built-in wireless charging. The company is also offering a smartphone app that allows users to control their sleep environment.

In addition, the availability of smart beds with advanced features such as massage and temperature control is further driving the demand for the product. For instance, in April 2022, Sleep Number launched a new smart bed named Sleep Number 360 smart bed that can detect and adjust itself to the user’s sleeping position. The mattress comes with a temperature-regulating layer, massage functions, and advanced personalization options.

The rising demand for innovative and personalized products is also fueling the growth of the market. For instance, in May 2021, Eight Sleep launched the Pod Pro, a smart bed with advanced features such as sleep tracking, temperature control, and personalized comfort settings. Furthermore, the launch of hybrid mattresses is further boosting the market growth. For instance, in March 2021, Eight Sleep launched the Pod Pro Hybrid mattress that combines the latest in sleep technology with an advanced foam-spring combination.

Moreover, the increasing trend of renting mattresses is expected to drive the market growth. The launch of subscription-based services by various market players is further propelling the demand for the product. For instance, in October 2021, Casper launched a new subscription-based service that provides access to a new mattress every 10 years. The subscription-based model provides users with access to a range of mattresses, enabling them to choose the best one for their needs.

The smart bed segment led the market and accounted for a share of around 23.3% in 2022. Rising consumer demand for comfortable sleep and a better sleeping experience has been driving the demand for smart beds over the years. Moreover, increasing focus on home automation and the availability of advanced features such as adjustable posture and temperature control in smart beds are driving the growth of the market.

The mattress segment is anticipated to expand at the fastest CAGR of 5.8% over the forecast period. Growing demand for mattresses with advanced features such as pressure relief and temperature control are driving the growth of the market. According to an article published by the University of Pittsburgh, in November 2020, 74% of people said they would prefer to buy a mattress with advanced features. In addition, the emergence of subscription-based mattress and bedding services is another factor driving the growth of the market.

The department stores segment is expected to be the largest distribution channel for smart bed products. Department stores offer a broad selection of smart bed products with competitive pricing, convenience, and personalized customer service. These stores are widely preferred by consumers for one-stop shopping. Department stores are usually associated with leading brands and provide a wide range of product options, which makes them a viable option for smart bed products.

The online stores segment is expected to expand at the highest CAGR of 8.9% over the forecast period. The increasing number of internet users and the growing popularity of online shopping are likely to drive the growth of the segment. Moreover, online stores offer convenience, faster delivery, and competitive pricing, which has been a major factor contributing to the growth of the segment. Furthermore, the availability of multiple payment options and discounts offered by the online stores are encouraging more consumers to purchase smart bed products from online stores.

The traditional smart bed segment held the largest market share of 68.7% in 2021. The increasing demand for beds with comfort and convenience features is driving the growth of the segment. Traditional smart beds are equipped with basic features such as temperature control, lighting, massage, and adjustable frames. The features of traditional smart beds make them more suitable for the elderly and people suffering from chronic diseases. Furthermore, the affordability of traditional beds coupled with their comfort features makes them the top choice among customers.

The adjustable smart bed segment is estimated to grow at the highest CAGR of 10.7% during the forecast period. Adjustable smart beds are equipped with advanced features that allow the user to customize the bed in terms of height and angle. The adjustable bed segment offers additional features such as Bluetooth connectivity, automatic massage, and adjustable footboard. These features make the adjustable smart beds ideal for users who require advanced comfort and convenience. The increasing demand for advanced comfort features for a better sleeping experience is expected to drive the growth of the segment.

North America dominated the market and accounted for the largest revenue share of over 37.2% in 2022. This growth is attributed to the presence of several leading players in the region. Furthermore, rising awareness about the benefits of smart beds and growing acceptance of smart home technology is expected to be a key factor driving the market in this region. For instance, in May 2021, Sleep Number Corporation launched SleepIQ Kids, a smart bed designed for children, in the U.S.

Asia Pacific is expected to witness the highest CAGR during the forecast period. The growth in this region is attributed to the increasing disposable income of the population and rising demand for comfort and convenience in the bedroom. Moreover, the growing popularity of smart beds in countries such as China, India, and South Korea is further expected to drive the growth of the market in this region. For instance, in August 2021, Xiaomi launched a smart bed in China that can detect body movements and automatically adjust the bed’s shape.

In this part of the smart bed products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your smart bed products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a smart bed products business comes from the sale of the products. However, depending on the business model, other sources of revenue might be considered, such as royalties from licensing agreements, advertising, and product endorsements.

Projecting Expenses

In this section, all the regular expenses related to keeping the smart bed products business running will be described. The list of operating expenses includes materials and supplies, production costs, marketing and advertising, salaries and wages, insurance policies, rent, utilities, and other overhead costs.

Some of the key companies operating in the smart bed market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, Sleep Number Corporation launched the Sleep Number 360 Smart Bed that provides 360-degree personalized support and comfort.

– In June 2022, Eight Sleep launched the Pod Pro smart bed, which includes advanced sleep-tracking technology and a cooling system.

– In August 2022, Casper launched The Casper Wave Hybrid mattress, which uses advanced cooling and cushioning technology.

Some of the prominent players in the smart bed market include:

– Sleep Number Corporation
– Casper Sleep
– Leggett & Platt Inc.
– Simmons Bedding Company LLC
– Eight Sleep
– Tuft & Needle
– Purple Innovation, Inc.
– Sleep Science
– Tempur Sealy International, Inc.
– Serta Simmons Bedding, LLC.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart bed products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Smart Mattresses
– Smart Beds
– Smart Pillows
– Smart Sleep Monitors
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Offline
– Retail Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Low-end
– Mid-range
– High-end

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the factors driving the smart bed products market?
[A]: The growing demand for comfort, convenience, and real-time health monitoring are the key factors driving the smart bed products market. With the increasing popularity of connected home products, consumers have become more aware of the benefits of smart beds, such as sleep monitoring, temperature regulation, and automated wake-up alarms. The increasing focus on health and wellness is also driving the demand for these beds.

[Q]: Who are the Key Players in the Smart Bed Products Market?
[A]: Some of the key players in the smart bed products market include Sleep Number, Serta, Simmons, Kingsdown, Leggett & Platt Incorporated, Eight Sleep, Reverie, and Bedgear.

[Q]: Which Regions Offer the Largest Opportunity for Sales of Smart Bed Products?
[A]: North America is expected to be the largest revenue contributor to the global smart bed products market, owing to the presence of a large number of players in the region. The rising awareness of better health and wellness among consumers is expected to drive the market in Asia Pacific.

[Q]: What is the Potential of Product Innovation?
[A]: The smart bed products market is witnessing several product innovations that are expected to drive the market growth. Manufacturers are focusing on introducing beds that are equipped with advanced features such as voice control, adjustable firmness, temperature regulation, and sleep tracking. In addition, the introduction of beds with virtual reality technology is expected to further drive market growth.

[Q]: What are the Challenges Faced in the Smart Bed Products Market?
[A]: High cost of production, lack of awareness among consumers, and lack of standardization are some of the key challenges faced by the smart bed products market. The high cost of production is due to the high cost of the raw materials and components used in the manufacturing process. In addition, the lack of awareness among consumers is also a major challenge for the market.