The global wearable sleep tracker market is set for substantial growth, with market valuation expected to reach USD 1,583.20 million in 2024, according to a recently updated industry report. The rising prevalence of sleep dysfunctions is a significant catalyst driving the market expansion.
Individuals battling sleep disorders are increasingly turning to wearable sleep trackers as a means to monitor their sleep patterns and identify potential triggers. The integration of advanced sleep-tracking technology with wearable devices is enhancing the adoption of these trackers, making them an essential tool for those seeking to improve their sleep quality.
As these trends become more prominent and mainstream, the wearable sleep tracker market is projected to achieve a valuation of USD 2,458.60 million by 2034. This growth reflects a compound annual growth rate (CAGR) of 4.5% from 2024 to 2034.
People suffering from sleep disorders are increasingly using wearable sleep trackers as a tool to monitor their sleep patterns and pinpoint potential triggers as the prevalence of these ailments rises. Consumer acceptance of wearable sleep trackers is further boosted by the integration of sleep-tracking technology with wearable devices.
Sleep disorders, including insomnia, sleep apnea, and restless leg syndrome, affect millions of individuals worldwide, impacting their overall health and well-being. To address these concerns, sleep trackers are becoming increasingly popular tools for individuals with sleep disorders to monitor their sleep habits and identify potential triggers.
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Market Dynamics Framing the Wearable Sleep Tracker Sector:
The rise of the wearable sleep tracking device market is being supported in large part by the rising prevalence of sleep disorders and rising disposable income. Wearable sleep trackers are expected to see significant growth in the market due to their accessibility through both online and offline distribution channels, as well as their increasing popularity as fashion items in emerging nations.
The wearable sleep tracker market is not growing as quickly as it could due to the high cost associated with smart wearable devices. The sales of wearable sleep trackers are limited by the fluctuating pricing of raw materials and the growing competition in the market.
The global wearable sleep tracker market is segmented on the basis of product type into:
- Wearable Sleep Tracker Ring Devices
- Wearable Sleep Tracker Wristband and Hand band Devices
- Wearable Sleep Tracker Headband Devices
- Wearable Sleep Mask Tracker Devices
The report begins with the market definition of wearable sleep tracker, followed by definitions of different types of wearable sleep trackers and applications for which these wearable sleep trackers are used. The market dynamics section includes FMI’s analysis on key trends, drivers, restraints, opportunities and macro-economic factors influencing the growth of the global wearable sleep tracker market.
On the basis of the application, the global wearable sleep tracker market is segmented into:
- Insomnia
- Sleep Apnoea
- Others
On the basis of the distribution channel, the global wearable sleep tracker market is segmented into:
- Pharmacy and Retail Stores
- Online Sales
- Hypermarkets and Supermarkets
- Others
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Next, the report analyses the market on the basis of regions and presents forecast in terms of value for the next 10 years. On the basis of region, the global wearable sleep tracker market is segmented into:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- France
- U.K.
- Spain
- Rest of Western Europe
- Eastern Europe
- Russia
- Rest of Eastern Europe
- Asia Pacific excluding China and Japan
- India
- Australia & New Zealand
- ASEAN
- Rest of Asia- Pacific excluding China and Japan
- China
- Japan
- Middle East & Africa (MEA)
- South Africa
- GCC Countries
- Rest of Middle East and Africa
In addition, we have considered Year-on-Year (Y-o-Y) growth to understand the predictability of the market and identify the growth opportunities for companies operating in the global wearable sleep tracker market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective for services offered by the wearable sleep tracker market. To understand the key segments in terms of their growth and performance in the global wearable sleep tracker market, Future Market Insights has developed a market attractiveness index. The resulting index will help identify the existing market opportunities in the wearable sleep tracker market.
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In the final section of the report, the ‘competitive landscape’ has been included to provide a dashboard view of the key companies operating in the global wearable sleep tracker market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the wearable sleep tracker market. However, this section also includes market strategies and SWOT analysis of the key players operating in the global wearable sleep tracker market.
Detailed profiles of wearable sleep tracker drug manufacturers are also included in the scope of the report to evaluate their long- and short-term strategies. Examples of some of the key players operating in the wearable sleep tracker market are Fitbit, Inc., Garmin Ltd., Koninklijke Philips N.V., Huami Corporation, Fossil Group, Inc., and Huawei Technologies Co., Ltd., among others.
Key Segments:
By Product:
- Wearable Ring Devices
- Wearable Wrist and Hand band Devices
- Wearable Headband Devices
- Sleep Mask Tracker Devices
By Application:
- Insomnia
- Sleep Apnea
- Others
By End User:
- Pharmacy and Retail Stores
- Online Sales
- Hypermarkets and Supermarkets
- Others
By Region:
- North America
- Western Europe
- Asia Pacific
- Latin America
- Eastern Europe
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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