GVR Report cover Sleep Tracking Devices Market Size, Share & Trends Report

Sleep Tracking Devices Market Size, Share & Trends Analysis Report By Component (Hardware, Software & Solutions), By Operating System (Android, IOS), By Region, And Segment Forecasts, 2023 To 2030

  • Report ID: GVR453638
  • Number of Pages: 0
  • Format: Electronic (PDF)

Sleep tracking devices are monitoring devices that help to monitor a person’s sleep by tracking the sleep duration, sleep quality, and sleep phases. The devices usually monitor breathing patterns, heart rate, and movement. The increasing prevalence of sleep disorders is anticipated to drive the adoption of sleep tracking devices which help to improve the conditions. For instance, according to American Sleep Association, as of 2021, 50 to 70 million people in the U.S. suffered from a sleep disorder. Moreover, the increasing use of these tracking devices improves sleep disorders while also increasing awareness among the population about sleep health. The trackers help to improve sleep habits, for instance, some apps help users address sleep hygiene such as screen time limits and bedtime alarms.

Increasing disposable income of the global population is anticipated to be a key driver for the market. According to data published by the Australian Bureau of Statistics, the median weekly gross household income in Australia increased from USD 1,753 in 2018-19 to 1,786 in 2019-20. Rising disposable income is expected to increase the adoption of sleep-tracking devices for monitoring sleep in the coming years. The availability of technologically advanced products in the market is expected to boost the growth of the market during the forecast period. For instance, in September 2022, Amazon announced the launch of Halo View a contactless bedside sleep-tracking device. The device algorithm is validated and trained against polysomnography, which is a comprehensive test for sleep analysis.

Despite the advantages offered by the devices, FDA recognizes sleep tracking devices as lifestyle or entertainment devices and thus, are not regulated by the FDA. This is expected to restrain the growth of the market. Moreover, many trackers use an accelerometer, which records the movement of the body and may provide inaccurate data. For instance, if a person spends time in bed reading, the device may register it as light sleep.

Some of the key players in the market are Apple Inc., Samsung, Philips Healthcare, Fitbit Inc., Emfit Ltd., Garmin Ltd., ResMed, Misfit, Polar, Beddit, and Sleepace. Various strategies such as product launches, collaborations, and mergers & acquisitions are adopted by these key players to increase their market share. For instance, in August 2021, Fitbit announced the launch of Fitbit Luxe and Fitbit Luxe Special. The watch can monitor heart rate variability (HRV), breathing rate, skin temperature variation, and resting heart via its Health Metrics dashboard. The tracker is also equipped with Sleep Score Feature, which helps to track sleep quality and maintain a consistent sleep routine.

Grand View Research, Inc. has segmented the sleep tracking devices market report based on component, component, operating system, and region:

  • Component Outlook (Revenue, USD Million, 2016 - 2030)

    • Hardware

      • Wearable

        • Watches

        • Rings

        • Earbuds

      • Non-wearables

        • Bedside Tracking Devices

        • Bed Sensors

      • Hardware, by Distribution Channel

        • Online Sales Channel

        • Offline Sales Channel

    • Software & Solutions

  • Operating System Outlook (Revenue, USD Million, 2016 - 2030)

    • Android

    • IOS

  • Regional Outlook (Revenue, USD Million, 2016 – 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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