The global smart bed market size was valued at USD 2.82 billion in 2020. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Smart Bed Market, 2021-2028.”
COVID-19 Impact
Closure of Retail Outlets and Expansion of Online Channels Reshape Industry Dynamics
Major Players Profiled in the Market Report:
- Hi-Interiors Srl (Milano, Italy)
- Hill-Rom Holdings Inc. (Chicago, Illinois, U.S.)
- Johnson & Johnson Inc. (Elyria, Ohio, U.S.)
- Paramount Bed Holdings Co., Ltd. (Higashisuna, Tokyo, Japan)
- Joerns Healthcare LLC (North Carolina, U.S.)
- Sleep Number Corporation (Minnesota, U.S.)
- Stryker Corporation (Michigan, U.S.)
- Arjo AB (Malmo, Sweden)
- ReST (Atlanta, U.S.)
- BodiTrak (Vista Medical Ltd.) (Canada, U.S.)
Report Coverage
The report includes secondary sources, including press releases, annual reports, SEC filings and paid databases.
Drivers and Restraints
Prominently, leading companies are likely to focus on product portfolio expansion amidst shifting dynamics. A spike in the demand for advanced beds from the healthcare and hospitality sectors could underpin the business outlook.
Adoption of State-of-the-art Devices to Provide Lucrative Growth Opportunities
Regional Insights
Rising Uptake of Smart Devices in North America to Encourage Investments
Firstly, Soaring purchasing power across China, Japan and India are likely to trigger investments across the region. The trend suggests industry players will envisage Asia Pacific as a happy hunting ground over the next few years.
Notably, governments have upped healthcare budgets, expediting the adoption of smart tech devices. According to the Federal Statistics Office (Destatis), healthcare expenditure in Germany reached 410.8 billion euros in 2019.
Segmentation
Competitive Landscape
Stakeholders Invest in Strategic Engagement to Gain a Competitive Edge
Leading companies are poised to up their investments in mergers & acquisitions, R&D activities and technological advancements. The market’s competitiveness indicates Key players could invest in geographical expansion and product portfolio expansion.