Sleep Tech Devices Market — By Product, By Application, By Distribution Channel — Global Forecast, 2024 – 2032

Sleep Tech Devices Market Size

The global sleep tech devices market size was valued at USD 21.1 billion in 2023 and is anticipated to witness growth at a CAGR of 18.3% from 2024 to 2032. The market is witnessing expansion because of heightened understanding of sleep technology, an ever-growing elderly demographic, and increased demand in portable, energy-efficient and high-end sleep devices.
 

Also, the incidence of sleep disorders like chronic insomnia, obstructive sleep apnea syndrome, restless legs syndrome, and narcolepsy is on the rise, which is likely to continue driving expansion of this market.  As per the American Sleep Association, more than 50 to 70 million American adults were reported to have some sort of sleep disorder as of 2023. Insomnia affects about 30% of the population. The Centers for Disease Control and Prevention (CDC) reported in 2022 that the obesity rates among American adults, a significant risk factor for obstructive sleep apnea, had risen to 41.9%.

Similarly, ResMed, the leader in CPAP devices, reported a 14% growth in device sales in 2023, which indicates an increasing demand for sleep technology solutions among patients with sleep disorders. Consumers are increasingly seeking smart mattresses, sleep tracking devices, and CPAP (Continuous Positive Airway Pressure) ventilators to improve their sleep quality. Also, a survey conducted by the Sleep Foundation in 2024 reported that the use of sleep tracking devices has increased, with the percentage of Americans using these devices growing from 24% in 2021 to 31%, which continues to fuel growth in this market.
 

Sleep tech devices refer to new innovations created to track, evaluate and improve the quality of sleep through the use of modern technology. This category of devices contains smart mattresses, wearable sleep trackers, CPAP machines and other wearable sensors which monitor and improve sleeping patterns and disorders. Utilize AI, IoT, and biometric data, sleep tech devices enable individuals to tackle sleep problems and maximize sleep health.
 

Sleep Tech Devices Market Trends

• The wearable sleep trackers are getting more popular, largely because of increasing consumer interest in smartwatches, rings, and fitness bracelets like Apple Watch, Fitbit, and Oura Ring that connect to different health apps. Global shipments of wearable devices rose by 2.6% on a year over year basis in Q3 2023, according to International Data Corporation (IDC), partly because of the appealing sleep-tracking functions.
   
• Other non-wearable sleep tracker such as smart mattresses, bedside monitors, and under-the-pillow sensors, are also on the rise, as they allow for passive sleep tracking without users having to wear anything. According to the Sleep Number Corporation, sales of smart beds increased by 35% in 2022, whereas sales of Eight Sleep's Pod increased by 65% in 2023.
   
• In addition, AI and machine learning are used in the sleep tech devices for processing large amounts of sleep data. These intelligent AI algorithms further improve the user's comprehension of sleep and thus help him to maximize the efficiency and ease of use of the devices.
   
• Moreover, sleep technology devices are being tailored to perfectly fit into smart home ecosystems, enabling people to manage their sleep environments with minimal difficulty. Automation of smart lights, smart air conditioning, and soundproofing, as well as the sleep monitors, work hand in hand to form the most suitable environment for sleeping.
   

Sleep Tech Devices Market Analysis

Based on product, the sleep tech devices market is segmented into wearables and non-wearables. The wearables segment held a dominant market in 2023 and was valued at USD 13.5 billion growing from 9.6 billion in 2021.
 

• Devices such as smartwatches, fitness watch trackers, and sleep monitoring bands have triumphed in becoming popular because users are always seeking detailed analyses concerning their sleep and heart rates along with the sleep quality.
   
• In recent years, the demand for wearable devices has surged because of the increasing requirement for holistic health monitoring devices that record sleep, physical activity, stress levels, and overall heart health. In 2023, Apple Watch users used more than 18 billion workout sessions. Fitbit state that its active users logged over 9.8 billion hours of sleep data in 2022.
   
• Further, owing to rising consumer interest in multifunctional health and fitness monitoring devices, Google launched its sleep and stress management integrated Pixel Watch 2 in October 2023 along with a slew of other gadgets. This unique fusion of fitness and sleep tracking will augment the attractiveness of Pixel Watch 2 and help widen market boundaries.
   

Based on application, the sleep tech devices market is categorized into obstructive sleep apnea, insomnia, narcolepsy, and other applications. The insomnia segment is projected to reach USD 41.7 billion by 2032.
 

• There is a spike in persistent cases of insomnia, sleep apnea, and restless leg syndrome, all of which are creating a renewed market for devices that aid in the monitoring of sleep. The CDC claims that in 2022, 1 in 3 American adults failed to get the sleep needed, while the Sleep Foundation survey taken in 2023 reported that 43.2% of American adults reported some form of anxiety disorder that affected sleep.
   
• The effectiveness of sleep tech devices lies in providing maximum detail about their users sleep cycles while offering personalized solutions to improve the quality of overall sleep. The advanced capabilities of these devices to monitor the length of sleep, disruptions, and stages of sleep allow people suffering from insomnia to dive deep into the analysis of their problems so that they can effectively resolve them.
   
• Moreover, owing to the evolution of sensor technology combined with the enhancement of artificial intelligence and machine learning, sleep tech devices have become capable of administering relaxing sleep cycles as well as other targeted sleep interventions. This has resulted in overriding traditional solutions for insomnia, which fuels the dominance of the segment in the market.
   

Based on distribution channel, the sleep tech devices market is categorized into sleep centers and fitness centers, hypermarkets and supermarkets, E-commerce, pharmacy and retail stores, and other distribution channels. The sleep centers and fitness centers segment accounted market share of 35.2% and is projected to reach USD 33 billion by 2032.
 

• The sleep centers are integral to improving health and wellness through the provision of sleep technology devices. These centers that focus on identifying and treating sleep disorders frequently recommend sleep tracking devices to patients with conditions such as apnea and other sleeping issues.
   
• According to the American Academy of Sleep Medicine (AASM), the reported number of accredited centers in the U.S. went up from 2,500 in 2021 to more than 2,800 in 2023. Similarly, the CDC stated in 2023 that about 70 million Americans have chronic issues with sleep, which increases the need for such specialized centers and the monitoring devices they provide.
   
• Additionally, sleep tech devices, especially those designed to monitor sleep as part of overall health and fitness tracking, are greatly propelled by fitness centers.
   

The North America region dominated the global sleep tech devices market in 2023 with USD 9 billion growing from USD 6.5 billion in 2021.
 

• Sleep tech devices are increasingly adopted in the region owing to high prevalence of sleep disorders such as insomnia and the increasing awareness towards sleep health. It is estimated that around 30% of the adult’s report having insomnia, which was noted by the American Sleep Association in 2023.
   
• There's a notable presence of leading companies in sleep technology as well as advanced healthcare systems, which further solidifies the region's strong market position. In the year 2022, the CDC claimed insufficient sleep to be a public epidemic, resulting in over 35.2% of the surveyed adults over the age of 18 citing sleep of less than seven hours on a nightly basis.
   
• Additionally, the increase in sleep related public health programs illustrates the growing knowledge about the importance of sleep on the health of an individual. The Department of Health and Human Services provided funding amounting to USD 45 million into sleep health research programs for its citizens in March 2023. These efforts try to educate the people about the consequences that are achieved with not getting enough sleep, which reduce the stigma associated with sleeping aid devices, hence boosting the economy of the region.
   

Germany is projected to grow which dominates the Europe sleep tech devices market during the analysis period.
 

• Germany’s healthcare system prioritizes the assessment of sleep patterns among its citizens and their active application particularly due to the increasing number of elderly people in the country. The Federal Statistical Office states that Germany will have 22.4% of its population at 65 years and above by 2023 and around 23.8% in 2024. Similarly, according to the survey conducted by German Sleep Society in 2022, about 34% of adults in country had some form of sleep disorder. Out of this, around 41% classified their sleep issues as a result of stress at work.
   
• Therefore, the incorporation of artificial intelligence and machine learning in German sleep diagnostics and treatment has improved the functionality of sleep monitoring devices and the competitiveness of the market.
   
• In addition, as reported by the Federal Institute for Occupational Safety and Health, remote workers in Germany from 2023 started averaging 2.7 more hours of screen time on a daily basis compared to before the pandemic. Also, in 2023, Philips Healthcare added the Dream Family line of sleep therapy devices in Germany, expanding their portfolio of AI powered sleep solutions. These changes will most likely propel the market in the country.
   

Japan is experiencing high market growth in the Asia Pacific sleep tech devices market.
 

• The Japan sleep technology is advancing due to the increase in insomnia among the older people of the country. In Japan, the Ministry of Health, Labor and Welfare announced that in the year 2023, 21.7% of adults were facing sleep deficit, which is a notable increase from the 18.3% who were sleep deprived in 2021. Japan’s older generation has been coping with multiple problems which then calls for the need for more sleep-oriented devices.
   
• The advanced infrastructure of technology in the nation makes it possible for smart mobile applications, wearable sleep monitoring devices, and smart beds to track sleep patterns and other parameters. These inventions positively impact the sleep market.
   
• Also, Philips, Panasonic, ResMed, Omron and Sony are some major firms in the country with Japan focusing more on sleep technology devices. These brands strive to cater to the Japanese consumers by producing AI based sleep application, sleep masks, and sophisticated bedding items.
   
• The company’s sleep wearables segment of the business registered a growth in revenue of 22% during the year 2022. This indicates a significant role of companies towards advancing the growth of the market.
   

Sleep Tech Devices Market Share

The sleep technology devices market is very fragmented, with competition coming from multiple fronts focusing on sleep monitoring and therapy application development using new technologies, AI, and even forming joint ventures with other companies. Major competitors such as Fitbit (Google), Apple Inc., Withings, and ResMed together hold approximately 40% of the market as they take advantage of their brand and novel products.
 

There is a growing market for sleep health management which is why companies are spending money on developing wearable sleep trackers, smart mattresses, AI sleep apps, and even non-invasive sleep therapy solutions. Also are regional competitors and new entrants providing custom solutions like digital therapeutics (DTx) for insomnia, smart home IoT integration, and neuromodulation devices increasing competition in the market. The industry is also changing through merger, acquisition, and collaboration activities as companies try to grow their presence and differentiate their products to newer markets.
 

Sleep Tech Devices Market Companies

Prominent players operating in the sleep tech devices industry include:

• Amazon
• Apple
• Balluga
• BEDJET
• EIGHT SLEEP
• EMFIT
• FISHER & PAYKEL
• Fitbit
• GARMIN
• HUAWEI
• OURA
• PHILIPS
• ResMed
• ReST
• SleepScore Labs
• smart nora
• vitalthings
• WITHINGS
• Xiaomi
• ZOLL itamar
   

Philips provides sleep tech devices for every category including smart sleep masks and advanced CPAP machines. These devices integrate AI-powered personalized sleep therapy and tracking to improve sleep quality. Because of their focus on research and innovation, they have become trusted leaders in improving sleep quality across the globe.
 

ResMed differentiates itself from other sleep tech companies by manufacturing cutting-edge CPAP and BiPAP devices for sleep apnea management. Their devices come with cloud connectivity, which facilitates remote monitoring and modifications to treatment plans. Their commitment to a user-friendly experience and patient-centered care is truly unique in the industry.
 

Sleep Tech Devices Industry News

• In February 2024, ResMed launched its AirCurve 11 series devices. These devices use two levels of support, inspiratory positive airway pressure (IPAP) and expiratory positive airway pressure (EPAP), combined with digital technology to make it easier for healthcare providers to treat sleep apnea and to help patients start and stay on therapy. This product launch may help the company to gain a competitive edge over its peers.
   
• In October 2023, Fisher & Paykel Healthcare Corporation Limited announced the launch of the F&P Solo mask in New Zealand and Australia for the treatment of obstructive sleep apnea (OSA). Without conventional straps to undo and pull, the mask reduces overtightening on the face. This product launch helped the company to increase its product range and acquire an enhanced customer base.
   

The sleep tech devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2021 – 2032 for the following segments:

Click here to Buy Section of this Report

Market, By Product

• Wearables
  • Smart watches & bands
  • Other wearables
• Non-wearables
  • Sleep monitors
  • Smart beds

Market, By Application

• Obstructive sleep apnea
• Insomnia
• Narcolepsy
• Other applications

Market, By Distribution Channel

• Sleep centers and fitness centers
• Hypermarkets and supermarkets
• E-commerce
• Pharmacy and retail stores
• Other distribution channels

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
  • Peru
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Turkey