Wearable Sleep Trackers Market is anticipated to be worth US$ 3.1 billion by the year 2028 | FMI
The global Wearable Sleep Trackers Market is anticipated to generate US$ 3.1 Billion in revenue by the end of 2028, growing at a CAGR of 7.8% over the course of the forecast period. Over the course of the forecast period, the Asia-Pacific wearable sleep tracker market is anticipated to rise significantly, at a CAGR of around 11%.
Wearable sleep trackers helps an individual in knowing their sleep habits. A wearable sleep tracker monitors and tracks the pulses through a wrist sensor.
The wearable sleep tracker measures the total duration of sleep. Wearable sleep tracker has a smart alarm feature which monitors light and heavy sleep by tracking the movement of an individual. Before an individual drift off, the wearable sleep tracker launches the sleep cycle analysis so that in the next morning one can check their smart phone app and get the graphs.
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The graph shows the sleep cycles and quality of sleep during the night. In addition, the device also has a sensor which monitors the blood oxygen level, respiration rate, body temperature, movement levels and heart rate. The sensors in wearable sleep tracker tracks the sleep stages mainly REM (rapid eye movement), light and deep sleep.
Basically, deep, light, and REM sleep are experienced as a cycle and every individual go through multiple sleep cycles each night. The wearable sleep trackers are small and more comfortable to wear in bed.
According to the National Institute of Health, 40 million Americans suffer from chronic sleep disorders and another 20 million experience sleeping problems at some point during their lives. Many sleep related problems are temporary. But some sleep related disorders are associated with the long-term and potentially life-threatening medical conditions including worsening diabetes, heart disease, depression, obesity and stroke.
Wearable Sleep Trackers Market: Drivers and Restraints
Increasing prevalence of sleep disorders and healthcare expenditure are the primary factors expected to drive the growth of the global wearable sleep trackers market over the forecast period.
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In addition, low cost of wearable sleep trackers, rapid development in telecommunications and mobile technology are some additional factors expected to fuel the growth of the global wearable sleep trackers market.
However, low awareness towards device and lack of standardization would remain major restraints for the growth of the global wearable sleep trackers market.
Wearable Sleep Trackers Market: Overview
The wearable sleep tracker provides data about the sleep stages, number of times an individual wake up in the night, total time asleep in each sleep stage and total duration of sleep.
Rising prevalence of sleep disorders would demand the adoption of wearable sleep trackers over the forecast period. Wearable sleep trackers improves the quality of sleep and life as a whole.
Based on different applications, the global wearable sleep trackers market is segmented into obstructive sleep apnea, insomnia, circadian rhythm sleeping disorders, narcolepsy and rapid eye movement sleep disorder.
Obstructive sleep apnea is a very prevalent sleep condition and accounted for major revenue share in the overall sleep disease treatment monitoring segment in 2015. Based on the end user, the market is segmented into hospitals, clinics, home care settings and sleep centers. Wearable sleep trackers are mostly used in home care settings.
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Key Companies Profiled:
- Fitbit Inc.
- Garmin Ltd.
- Huami Corporation
- Fossil Group Inc
- Koninklijke Philips N.V
Wearable Sleep Tracker Market by Category
- Wearable Ring Devices
- Wearable Wrist and Hand band Devices
- Wearable Headband Devices
- Sleep Mask Tracker Devices
- Sleep Apnea
By End User:
- Pharmacy and Retail Stores
- Online Sales
- Hypermarkets and Supermarkets
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