Sleep Tech Devices Market: By Product (Wearables & Fitness Trackers, Smart Beds & Mattresses), By Application (Snoring, Sleep Apnea, Circadian Disorders, Insomnia, Others), By Distribution Channel (E-commerce, Specialty Stores, Others), By End User (Hospitals, Homecare Settings, Others)  and Geography  

Sleep Tech Devices Market size was valued at USD 15,233.2 million in 2022 and is expected to grow at a significant CAGR of 16.8% from 2023-2029. Electronic gadgets that track sleep hours accurately are known as sleep tech devices, and they help the body fall asleep more easily. Additionally, a range of features are employed by sleep tech gadgets to enhance many aspects of sleep management, including heartbeat, breathing rhythm, movement, phases of sleep, snoring, and the sleeping environment, including light and noise levels. These gadgets offer information that can be used to better understand sleep patterns and find strategies to prevent sleep loss.

The global market provides a detailed overview of the market that can be segmented by product, application, distribution channel, and end-user. By product, the market has been segmented into Wearables and fitness Trackers, Smart Beds, and mattresses. The wearables segment is likely to be the largest and fastest-growing segment in terms of product. Based on application, the sleep tech devices market is segmented into Snoring, Sleep Apnea, Circadian Disorders, Insomnia, and Others. Among these, the snoring segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on distribution channels, the sleep tech devices market is segmented into E-commerce, Specialty Stores, and Others. The e-commerce segment is expected to dominate the market in the future. Based on end use, the market has been segmented into Hospitals, Homecare Settings, and Others. The hospital segment is expected to grow at the highest CAGR over the forecast years according to Precision Business Insights.

Sleep Tech Devices Market Key Development:

• In February 2019, Apple Inc. launched a sleep-tracking feature for a future version of its smartwatch. This strategy enhanced the company's ability to expand its offerings in the sleep tech devices market.