Burlingame, March 27, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, the global sleep app market size is estimated to grow from $1,070.9 Million in 2023 and is forecast to reach a value of $2,755.2 Million by 2031 at a CAGR of 14.4% between 2024 and 2031. The increasing prevalence of sleep disorders, coupled with the rising awareness about the importance of sleep tracking and monitoring, is driving the growth of the Sleep App market. Moreover, the advancements in technology, such as the development of advanced sensors and wearable devices, are further fueling the demand for sleep apps.
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Market Trends:
One of the key trends in the Sleep App market is the integration of artificial intelligence and machine learning algorithms to provide personalized sleep recommendations and insights to users. Another emerging trend is the growing adoption of wearable sleep tracking devices, which offer real-time data on sleep patterns and quality, allowing users to make informed decisions to improve their sleep hygiene. These trends are expected to significantly impact the growth of the Sleep App market in the coming years.
Global Sleep App Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2023 | $1,070.9 million |
| Estimated Value by 2031 | $2,755.2 million |
| Growth Rate | Poised to grow at a CAGR of 14.4% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Device Type, By Features, By Age Group, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Rising prevalence of sleep disorders • Increasing health awareness • Advent of wearable technology |
| Restraints & Challenges | • Data privacy concerns • High costs of devices |
Market Opportunities:
The market opportunity lies in the increasing demand for wearable devices in sleep apps. Wearable devices, such as smartwatches and fitness trackers, are gaining popularity among consumers for tracking their sleep patterns and monitoring their overall health. These devices can provide valuable insights into users' sleep quality, duration, and patterns, helping them improve their sleep habits and overall well-being. The convenience and ease of use offered by wearable devices make them a preferred choice for consumers looking to track their sleep effectively. As the adoption of wearable technology continues to grow, the demand for sleep apps integrated with wearable devices is expected to increase significantly.
Another market opportunity in the sleep app industry is the growing adoption of sleep staging and monitoring features. Sleep staging refers to the process of tracking the different stages of sleep, such as deep sleep, light sleep, and REM sleep, to provide users with a comprehensive analysis of their sleep patterns. Monitoring features, such as heart rate monitoring and respiratory monitoring, can help users identify potential sleep disorders and take necessary actions to improve their sleep quality. As consumers become more conscious about their health and well-being, the demand for sleep apps with advanced sleep staging and monitoring features is expected to increase. This presents an opportunity for sleep app developers to innovate and enhance their offerings to meet the evolving needs of users.
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Key Market Takeaways:
Sleep App is anticipated to witness a CAGR of 14.4% during the forecast period 2023-2030, owing to the increasing awareness about the importance of sleep and the growing adoption of digital health solutions.
On the basis of Device Type, Wearable Devices segment is expected to hold a dominant position, owing to the convenience and accuracy offered by wearable devices for tracking sleep patterns.
By Features, Basic Sleep Tracking segment is expected to dominate the market, as it provides essential insights into users' sleep quality.
Among Age Group, Adults are expected to be the key users of sleep apps, driving market growth.
In terms of End User, Home Care Settings segment is expected to lead the market, due to the rising demand for remote monitoring solutions.
North America is expected to hold a dominant position in the market, driven by the high adoption of digital health solutions in the region.
Key players operating in the Sleep App market include Sleep Cycle, Sleep As Android, Pillow, and Sleep Better, who are focusing on developing innovative features and enhancing user experience in their sleep apps.
Key Developments:
In October 2023, Infineon Technologies AG, a global semiconductor provider in power systems and IoT, launched a contactless, privacy-centric sleep quality solution which can be easily integrated into original equipment manufacturer (OEM) end devices such as bedside lamps, televisions, smart speakers and air purifiers. Infineon’s 60GHz Radar, PSoC and Wi-Fi technologies, the XENSIV Sleep Quality Service is designed to measure and help optimize the user’s sleep based on individual needs.
In February 2023, Sleep Cycle, one of the market-leading sleep tracker, launched ‘Sleep Cycle Kids’, a science-based app providing parents with tools to optimize the children’s sleep - and how to help their kids sleep better to optimize well-being for the whole family. Sleep Cycle Kids is centered around an intelligent sleep schedule that adapts to each individual child and gives parents the tools to determine the optimal bedtime, thus reduce the time it takes to fall asleep, and identify and change other behaviors that can be problematic for children’s sleep.
In conclusion, the sleep app market presents lucrative opportunities for innovation and growth, driven by the increasing demand for wearable devices and advanced sleep monitoring features. By leveraging these market opportunities and addressing key market takeaways, sleep app developers can position themselves for success in the competitive digital health landscape.
Read complete market research report, "Global Sleep App Market, By Device Type, By Features, By Age Group, By End User, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.
Detailed Segmentation:
By Device Type:
- Wearable Devices
- Non-wearable Devices
By Features:
- Basic Sleep Tracking
- Sleep Staging
- Heart Rate Monitoring
- Respiratory Monitoring
- Others (Advanced Analytics and Others)
By Age Group:
- Adults
- Geriatric
By End Users:
- Hospitals
- Sleep Centers
- Home Care Settings
- Diagnostic Laboratories
By Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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