Global Sleep Tracker Market By Product (Wearable and Non-Wearable), Application (Insomnia, Sleep Apnoea and Others), Distribution Channel (E- Commerce, Pharmacy and Retail Stores, Hypermarkets and Supermarkets and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The sleep tracker market is expected to be growing at a growth rate of 7.60% in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the factors responsible for fostering the growth of sleep tracker market. This rise in sleep tracker market value can be attributed to the various factors such as increased focus of the product manufacturers on innovations and technological advancements, growing popularity of e-commerce platforms especially in the developing economies and increasing personal disposable income.
From the name itself, it is clear that sleep trackers are the devices that are used to track the sleeping pattern of the wearer. Also, the sleep trackers are worn to determine the amount of sleep an individual needs in a 24 hour circle. The sleep trackers are embedded with sensors that record rapid eye movement sleep. In turn the sleep trackers help to draw about the valuable information based on the analytical know-how. Not just that, the sleep trackers, after observing the patterns of the wearer, suggests remedies in case of sleep disorders.
Rising volume of sleeping disorders prevalent in the global population and increasing personal disposable income are the major factors fostering the growth of sleep tracker market. Growing penetration of consumer products especially in the developing economies, rising adoption of smart and wearable technology or devices and easy availability through both online and offline modes of distribution are some other indirect sleep tracker market growth determinants. Growing penetration of e-commerce platforms especially in the developing economies and shifting consumer lifestyle will also create lucrative and remunerative sleep tracker market growth opportunities in the long run.
On the flip side, high costs associated with the smart wearable technology and devices will pose a major challenge to the growth of sleep tracker market in the long run. Unstable prices of raw materials and rising cost wars among existing manufacturers will further derail the market growth rate. Further, rising privacy and security concerns coupled with stringent regulatory framework will also create hindrances for the sleep tracker market growth rate.
This sleep tracker market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on sleep tracker market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Sleep Tracker Market Scope and Market Size
The sleep tracker market is segmented on the basis of product, application and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the fine fragrances market is segmented into wearable and non- wearable. Wearable segment is sub-segmented into smart watch, ring, wristband and hand band devices, headband devices, sleep mask and others. Non-wearable segment is sub-segmented into bedside, under mattress, under sheet and others.
- On the basis of application, the fine fragrances market is segmented into insomnia, sleep apnoea and others.
- On the basis of distribution channel, the fine fragrances market is segmented into e- commerce, pharmacy and retail stores, hypermarkets and supermarkets and others.
Sleep Tracker Market Country Level Analysis
The sleep tracker market is analysed and market size, volume information is provided by country, product, application and distribution channel as referenced above.
The countries covered in the sleep tracker market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the sleep tracker market and will continue to flourish its trend of dominance during the forecast period as well owing to the presence of major players in this region and rising prevalence of sleep disorders. Asia-Pacific will however, register the highest CAGR for the forecast period. Rising personal disposable income, rapid globalization, westernization, modernization and growing awareness about wearable technology are some major market growth determinants for this region.
The country section of the sleep tracker market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sleep Tracker Market Share Analysis
The sleep tracker market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to sleep tracker market.
The major players covered in the sleep tracker market report are Koninklijke Philips N.V., Amazfit India, Huawei Device Co., Ltd., Sleepace., Fitbit, Inc., Apple Inc., Sony Corporation, HTC Corporation, SAMSUNG, Xiaomi Global Community, ADIDAS AG, Nike, Inc., LG Electronics., Motorola Solutions, Inc., Fossil Group, Inc., Google LLC, Polar Electro, Withings, Michael Kors, CASIO AMERICA, INC., TomTom International BV. and ASUSTeK Computer Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.