Smart Pillow Market: Introduction
- Smart pillows refer to pillows with some additional features such as shape adjustment and snoring control. People with sleeping disorders, heart disorders, diabetics etc. prefer these pillows. Technological development and product innovation is increasing the efficiency of smart pillows, which is expected to boost their demand in the coming years.
- Growing geriatric population and various sleep disorders are propelling the demand for smart pillows across the globe. Design of smart pillows is convenient and comfortable for older people and patients, which is also impacting their demand.
Key Drivers of the Global Smart Pillow Market
- Significant increase in sleep related problems and population of elderly people are propelling the demand for smart pillows. Additionally, increasing product efficiency due to advancement in these pillows such as new features (guided meditation and sleep mode) is boosting the overall market growth. Growing demand from hospitals and hotels (the commercial sector) is also expected to encourage the smart pillow market across the globe.
- Sleep related problems such as snoring is mostly associated with other health issues such as diabetes and obesity. Growing number of people with these issues is expected to be a major driving factor for the smart pillow market in the near future. Manufacturers involved in the production of smart pillows are also focusing on product innovation by increasing investment in R&D for product feature development and improvement in product efficiency. This is also anticipated to drive the market in the future.
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Smart Pillow Market Anticipated to Create Attractive Opportunities in Future
- Sleep deprivation may lead to depression, hormonal imbalance, weakened immunity, memory loss, obesity, irregular blood pressure, diabetes, and other chronic illnesses. Smart pillows have proven to be the best solution to prevent sleep related disorders. Increasing awareness regarding sleep disorders and growing preference for smart pillows is anticipated to create lucrative opportunities for smart pillow manufacturers in future.
- Smart pillows have several features such as different sleep modes, meditation guidance, and cooling technology which is also beneficial for travelers. This factor is expected to open up untapped markets for product vendors in the coming years.
High Cost of the Product Expected to Obstruct the Overall Smart Pillow Market
- Currently, high production cost is the major hindrance faced by smart pillow manufacturers. Product cost and maintenance cost is high compared to regular pillows which is expected to affect the global smart pillow market during the forecast period. The high cost of the smart pillows makes it unaffordable for middle class consumers. This is anticipated to hinder the growth of the smart pillow market during the forecast period.
North America and Europe anticipated to dominate the global smart pillow market
- North America, followed by Europe, dominates the smart pillow market. These regions are expected to maintain their dominance throughout the forecast period. Large number of people suffering from sleeping disorders is a major driving factor of regional market growth. Consumers prefer good quality, expensive pillows for comfortable and adequate sleep.
- The market in Asia Pacific is also expected to show significant growth rate in the coming years due to increasing disposable income and increasing preference for modern health care facilities. Growing awareness about sleep related problems across developing countries in Asia Pacific and Middle East & Africa is the major driving factor of the smart pillow market in these regions.
Key Players Operating in the Global Market
The global smart pillow market is highly concentrated with major manufacturers accounting for around 20%–25% market share of the overall market. A few of the major players operating in the global smart pillow market include:
- Sunrise Smart Pillow
- Advanced Sleep Technologies, LLC
- Gio Clavis
- Pressure Profile Systems Inc.
- Smart Nora
- SleepSmart Pillow
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Global Smart Pillow Market: Research Scope
Global Smart Pillow Market, by Product Type
Global Smart Pillow Market, by Application
Global Smart Pillow Market, by Distribution Channel
Global Smart Pillow Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.