Sleep Tech Devices Market Analysis

Product (Wearables, Non-Wearables)

The wearables segment is estimated to hold 52% share of the global sleep tech devices market in the year 2037. The growth of the segment can be attributed to the increasing use of smart wearable devices, such as smartwatches, fitness bands, and others. Wearable devices are gaining popularity owing to their convenience in carrying around, they are cheaper than sleep monitors. Moreover, with the help of wearable devices, a person can continuously monitor the status of their body and the physiological activities happening within a person. In addition to this, many devices can record when a person goes to sleep at night and wakes up in the morning by monitoring the time when they are inactive. Globally, the number of linked wearable devices has increased from around 325 million in 2016 to nearly 722 million in 2019, the sales have more than doubled in only three years. Also, it is anticipated that in 2020, the number of smartwatches shipped globally exceeded 100 million.

Application (Insomnia, Obstructive Sleep Apnea, Narcolepsy)

Sleep tech devices market from the insomnia segment is expected to garner a significant share in the assessment period. A person has insomnia when they don't get enough sleep, don't sleep well, or have difficulties falling or staying asleep. Insomnia might be a minor annoyance for some people. Some may experience severe problems from sleeplessness. The causes of sleeplessness might also differ greatly. A rise in the number of people suffering from insomnia is expected to boost the segment growth. There are two types of insomnia, acute and chronic insomnia, and they both are very common. Around the world, one in three people experience symptoms of insomnia, and approximately 10% of adults actually have an insomnia disorder.

Our in-depth analysis of the global market includes the following segments: