Healthcare

Wearable Sleep Trackers Market Growth and Sales Forecast 2018-2026

Press Release

Wearable sleep trackers devices help in tracking the amount of sleep an individual needs to take in every twenty-four hour. Nowadays, insomnia, sleep deprivation, and various other disorder are common due to growing stress, increasing workload, and irregular sleep timings. The sleep trackers have a sensor close to the body that keeps a note of sleep patterns and cycle on a regular basis and record NREM and REM sleep and help in analyzing light and dark sleep patterns. Moreover, they can also help in maintaining fitness and activity monitor with the help of GPS. They also offer fitness uptakes like distance walked, calories consumed, and breathing and heart rate.

The global wearable sleep trackers market is categorized on the basis of product type, application, and distribution channel. Based on application, the market is segmented into sleep apnea, insomnia, and other including wellness application. Of these, others segment is estimated to lead the market during the forecast tenure and may hold high revenue share in the market.

The demand for wearable sleep trackers is increasing because of the growing incidence of the sleep disorder such as sleep apnoea, insomnia, and narcolepsy. Thus, the increasing variety of different type of wearable sleep trackers is projected to provide better and healthy sleep to the people suffering from these disorders. In addition, sleep disorders are also increasing due to rising obesity among the people and large geriatric population. Unhealthy habits and unhealthy lifestyle are also responsible for increasing sleep disorder among the people. Besides, rising awareness related to healthy sleep through various educational programs and information present online about the various sleep disorders has also helped in triggering the demand in this market. Efforts made by sleep foundations such as the National Sleep Foundation are constantly working on spreading awareness about the diagnosis, symptoms, and treatments available for sleep disorders. Wearable sleep tracker devices are favored as compared to non-wearable sleep tracker due to the reliability of its data accumulation and enhanced efficiency of analyzing the sleep patterns, sleep cycles, and other similar data. 

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North America is projected to be the leading region for the global wearable sleep trackers market. This is because of growing prevalence of sleep apnoea, insomnia, and other sleep-related disorders the U.S. unhealthy lifestyle, stress, and obesity are considered some of the major factors for the growth sleep disorder among the people as analyzed by the National Institute of Health. Therefore, this region offers huge growth potential for this market. Moreover, easily available sleep trackers devices, growing expenditure on healthcare, and good wellness penetration is projected to contribute to the market growth in the near future.  

North America is followed by Europe, where sleep disorder is at high rate. Increasing health consciousness and growing expenditure on maintaining one’s health could help increase the demand for wearable sleep trackers in this region. In Asia Pacific region, China is considered the fastest growing market due to the large geriatric population in the region who suffers from various sleep disorders.

The global wearable sleep trackers market marks the presence of leading players such as Koninklijke Philips N.V., Huami Corporation, Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., and Huawei Technologies Co., Ltd. The leading companies are making efforts in developing new wearable technologies.

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