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Wearable Sleep Trackers Market Size and Share expected to reach US$ 2.9 billion by 2030 with CAGR 7.4% from 2022 to 2030 - Reports and Insights

    Joey Petter

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    The report is titled as ‘Wearable Sleep Trackers Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the wearable sleep trackers market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The wearable sleep trackers market is expected to grow at a steady rate in the near future.

    The global wearable sleep trackers market in 2020 is estimated for more than US$ 1.6 Bn and expected to reach a value of US$ 2.9 Bn by 2028 with a significant CAGR of 7.4%.

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    Wearable Sleep Trackers Market Dynamics

    The wearable sleep trackers market witnesses steady growth, accounting for the increasing occurrence of sleep disorders among people along with other such related ailments.

    Growing healthcare expenditure, increasing awareness about healthy sleep via numerous educational programs along with the access of information that is present online about the various sleep disorders, and the increasing expenses on healthcare are also expected to favor the market growth.

    Other factors like good wellness penetration, growing health consciousness, and the implementation of the latest technology in wearable devices are other factors influencing the demand for wearable sleep trackers globally.

    Besides, the growing adoption of smart wearable devices among people, growing count of online stores, rapid urbanization, increasing per capita income, and a surge in healthcare concerns with the adoption of technological advancements in this field also favors the market growth.

    In addition, a study revealed by According to the National Institutes of Health stated that the U.S. had a high incidence and prevalence of insomnia because of the growing obese population and unhealthy lifestyle.

    However, data privacy issues and the security related to these sleep tracking devices among the consumers coupled with the low adoption of smart gadgets by emerging nations are likely to restrict the growth of this market.

    Increasing demand for innovative and comfortable wearable sleep tracking devices, shifting focus of people for adoption of technology to track their health, fitness level, sleep, etc., and emerging markets with a mounting count of elderly population offer opportunities for the growth of this market.

    Also, the on-going research and development activities followed by the launch of new advanced products for the end-user and the changing lifestyle habits serve to be the major trends affecting the growth of the wearable Sleep Trackers Market during the forecast years.

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    Wearable Sleep Trackers Market Segmentation

    The wearable sleep trackers market is segmented on the basis of product type, application, distribution channel, and by region.

    By Product Type:

    • Wearable Ring Devices
    • Wearable Wrist Devices & Hand Bands
    • Wearable Headband Devices
    • Sleep Mask Tracker Devices

    By Application:

    • Insomnia
    • Sleep Apnea
    • Others

    By Distribution Channel:

    • Pharmacy & Retail Stores
    • Sleep Centers & Fitness Centers
    • Online Sales
    • Hypermarkets & Supermarkets
    • Others 

    By Region:

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East
    • Africa

    Wearable Sleep Trackers Market Key Players

    Key players operating in the global wearable sleep trackers market include Apple, Inc., Consumer Sleep Solutions LLC, Emfit Ltd., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., Huami Corporation, Huawei Technologies Co., Ltd., Koninklijke Philips N.V., Simmons Bedding Company LLC, and Sleep Number Corporation.

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