Sleep Tech Devices Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Sleep Tech Devices Market is segmented By Product Type (Wearable, Non-Wearable), By Application (Obstructive Sleep Apnea, Insomnia, Narcolepsy, Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa). The report offers the value (in USD billion) for the above-mentioned segments.
Sleep Tech Devices Market Size
Market Size in USD
CAGR17.3%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 17.3% |
| Market Concentration | High |
| Major Players | Koninklijke Philips N.V., Huawei Device Co Ltd., ResMed, Xiaomi, Apple Inc. |
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Sleep Tech Devices Market Analysis
The sleep tech devices market is estimated to be valued at USD 19.9 Bn in 2024 and is expected to reach USD 61 Bn by 2031, growing at a compound annual growth rate (CAGR) of 17.3% from 2024 to 2031.
The sleep tech devices market is expected to witness promising growth trends over the forecast period. Factors such as the rising awareness about the importance of good quality sleep, increasing health issues due to sleep deprivation like stress, obesity etc., growing internet penetration and adoption of connected devices are expected to drive the demand for smart and advanced sleep tech devices. Furthermore, continuous technological advancements in sleep devices like integration of AI and sensors for real time monitoring are also anticipated to boost the adoption of smart sleep tech devices from 2024 to 2031. However, data privacy and security concerns with smart sleep tech devices might hinder the market growth.