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Europe Smart Bed Market Size (2024 - 2029)

The Europe Smart Bed Market is experiencing growth driven by increased healthcare expenditures and a shift in consumer purchasing behavior towards online platforms. The region's significant investment in healthcare, particularly in countries like Germany, France, and the United Kingdom, has contributed to a substantial market share. The demand for smart beds has been bolstered by the need for enhanced patient care facilities in hospitals. Despite challenges posed by the COVID-19 pandemic, such as supply chain disruptions and reduced in-person interactions, the market is poised for expansion as consumers prioritize well-being and comfort at home.

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Market Size of Europe Smart Bed Industry

Europe Smart Bed Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 5.00 %
Market Concentration Medium

Major Players

Europe Smart Bed Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Smart Bed Market Analysis

Europe Smart Bed Market is expected to achieve a CAGR of 5% during the forecast period.

Increased healthcare expenses have fuelled the need for smart beds. According to Eurostat, healthcare expenditure accounted for around 9% of Europe's GDP in 2021. The largest GDP shares based on healthcare expenditures were from Germany, representing 12.8% of the total GDP, followed by France and the United Kingdom, with 12.2% and 12 %, respectively. Due to enhanced healthcare facilities in the United Kingdom, Germany, and other countries, Europe is likely to hold a significant market share worldwide.

In Europe, due to COVID-19, most of the smart bed companies struggled to hold in-person meetings with their channel partners and close business commitments, which significantly impacted their product revenues. The closure of retail outlets and electronics firms, along with raw material supply limitations, slowed the rate of product consumption during the pandemic.

However, since an increasing number of individuals are choosing to spend more time indoors, there has been a shift in purchasing behavior toward online outlets. Rising product sales via online platforms may assist the industry in identifying a positive potential for expansion. The lockdown restrictions also shifted consumer focus toward well-being, personal care, and comfort, thus boosting the demand for smart home accessories, including smart beds.

Increased focus on supporting patients in hospitals with proper treatment and facilities also surged the adoption of smart beds across the medical sector in Europe. The region witnessed significant expenditure on the healthcare sector, thereby bringing more investments into such products.

Europe Smart Bed Industry Segmentation

A smart bed uses sensors and other technologies to gather data about how users sleep. It uses this information to self-adjust and improves sleep. The European smart bed market is segmented by product (manual, semi-automatic, and fully automatic), end user (residential and commercial), distribution channel (supermarkets/hypermarkets, specialty stores, online, and other distribution channels), and country (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The report offers market size and forecasts for Europe Smart Bed Market in value (USD Million) for all the above segments.

By Product
Manual
Semi-automatic
Fully Automatic
By End User
Residential
Commercial
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online
Other Distribution Channel
By Country
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
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Europe Smart Bed Market Size Summary

The European smart bed market is poised for steady growth, driven by increasing healthcare expenditures and a rising demand for advanced medical facilities. The region's focus on enhancing patient care and comfort in healthcare settings has led to a significant adoption of smart beds, particularly in countries like Germany, France, and the United Kingdom. These nations have seen substantial investments in healthcare infrastructure, which has bolstered the market's expansion. The pandemic initially posed challenges, such as supply chain disruptions and a shift in consumer purchasing behavior towards online platforms, but it also heightened consumer awareness of well-being and comfort, further fueling the demand for smart home accessories, including smart beds.

The market is characterized by the presence of major players such as Stryker Corporation, Hill-Rom Holdings, and Invacare Corporation, who are leveraging technological advancements and product innovations to strengthen their market positions. The integration of smart technology into home ecosystems has become increasingly popular, with a notable rise in smart home product sales across Europe. This trend is expected to continue, with projections indicating a significant increase in the number of smart homes in the region. Companies are actively expanding their market presence by securing new contracts and exploring new markets, contributing to the overall growth and competitiveness of the European smart bed market.

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Europe Smart Bed Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights on the Impact of Technology and Innovation in the Market

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Manual

      2. 2.1.2 Semi-automatic

      3. 2.1.3 Fully Automatic

    2. 2.2 By End User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

    3. 2.3 By Distribution Channel

      1. 2.3.1 Supermarkets/Hypermarkets

      2. 2.3.2 Specialty Stores

      3. 2.3.3 Online

      4. 2.3.4 Other Distribution Channel

    4. 2.4 By Country

      1. 2.4.1 Germany

      2. 2.4.2 United Kingdom

      3. 2.4.3 France

      4. 2.4.4 Italy

      5. 2.4.5 Spain

      6. 2.4.6 Rest of Europe

Europe Smart Bed Market Size FAQs

The Europe Smart Bed Market is projected to register a CAGR of 5% during the forecast period (2024-2029)

Stryker Corporation, Hill-Rom Holdings, Inc., Invacare Corporation, Paramount Bed Co., Ltd. and LINET spol. are the major companies operating in the Europe Smart Bed Market.

Europe Smart Bed Report Snapshots

Europe Smart Bed Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)