Fitness Tracker For Sleep Monitoring Market Size, Share & Trends Analysis Report By Type (Smart Watches, Smart Bands), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The globalfitness tracker for sleep monitoring market sizewas estimated atUSD 4.4 billion in 2022and is projected to grow at a compound annual growth rate (CAGR) of 17.7% from 2023 to 2030. The market is driven by factors such as rising awareness of sleep health, broader health-conscious trend, and impact of stress and irregular lifestyles on sleep quality. Moreover, technological advancements improve device functionality, integration with smart home ecosystems, popularity of wearable technology, healthcare applications for sleep disorders, customized sleep solutions, and the convenience of sleep tracking through wearable devices. These drivers collectively propel the market's growth, with increasing demand for tools that help individuals monitor and optimize their sleep patterns.

The growing prevalence of sleep disorders such as insomnia and sleep apnea has prompted greater interest in sleep-tracking devices as valuable diagnosis, management, and prevention tools. These devices empower individuals to take charge of their sleep health, promote early detection and intervention, and contribute to a more data-driven and patient-centric approach to addressing sleep disorders. As per the article published by the NAMI (National Alliance of Mental Illness), insomnia is one of the significant sleep disorders that people encounter. It is characterized by the inability to obtain the necessary amount of sleep required for effective daytime functioning. Approximately 1 out of every 3 individuals in the U.S. reports having trouble sleeping at least one night per week. Similarly, as per the article by the National Cancer Institute, insomnia symptoms are prevalent, affecting approximately 33% to 50% of the adult population. They often coincide with situational stress, illness, aging, and pharmaceutical treatments. Notably, around one-third to one-half of individuals with cancer encounter disruptions in their sleep patterns. In addition, sleep disturbances and potential shifts in the sleep-wake cycle can serve as early indicators of the onset of delirium.

Technological advancements in fitness trackers for sleep monitoring have revolutionized how to understand and improve our sleep. With enhanced sensors, these devices provide more accurate data on sleep stages, heart rate, and even blood oxygen levels. They can also identify sleep disorders like sleep apnea and offer personalized insights through companion applications. Smart alarms wake users during the optimal sleep phase, and integration with smart home devices creates optimal sleep environments. These advancements have made sleep tracking more precise and more comfortable, and user-friendly, helping individuals make informed choices to enhance their sleep quality and overall well-being. For instance, In June 2021, Huawei launched the Huawei Watch 3 and Watch 3 Pro, the first smartwatches to run on HarmonyOS 2.0. These watches offer a stylish design, health-focused features, eSIM connectivity, and regular updates to improve performance and fix bugs. HarmonyOS 2.0 aims to compete with Google's WearOS & Apple's WatchOS. The Watch 3 can be paired with Android and iOS devices and offers features like handwash detection, fall detection, and comprehensive sleep tracking, including parameters like bedtime, wake-up time, sleep stages, and breathing quality.

Similarly, in April 2023, Fastrack announced that the company is extending its smartwatch portfolio by introducing the fashion tech series “Limitless” through an exclusive partnership with Amazon Fashion. The series is particularly crafted to meet the preferences of the Gen Z demographic, combining style and innovation. The Limitless FS1 model features impressive health monitoring capabilities alongside its contemporary aesthetics and functionalities. These encompass continuous stress assessment, automatic sleep tracking, and round-the-clock heart rate monitoring.

Type Insights

Based on type, the smart watches segment dominated the market in 2022 with the largest revenue share of 48.7% in 2022. This is owing to their versatility and broad feature sets. These smartwatches offer a wide range of health and fitness tracking features, including sleep monitoring, making them attractive to consumers seeking an all-in-one solution. They are often incorporated with advanced heart rate monitors, accelerometers, and SpO2 sensors, enhancing sleep-tracking data accuracy. In addition, these watches' larger displays and advanced applications provide users with detailed sleep insights, trends, and actionable recommendations.

Moreover, integrating sleep tracking with other smartwatch functions, such as notifications and alarm settings, makes them convenient for users who want to manage their sleep seamlessly alongside other aspects of their lives. In addition, the launch of technologically advanced smart watches for sleep monitoring with advanced features further drives the segment's growth. For instance, In June 2023, Samsung launched the Galaxy Watch 6, a new generation of smartwatches, at the Galaxy Unpacked Event in Seoul. These watches provide significant insights into sleep patterns. Featuring the Sleep Score Factor, developed in collaboration with the National Sleep Foundation, users can easily monitor their sleep duration and sleep cycles. In addition, personalized sleep messages are delivered to enhance the overall sleep experience. This flexibility has contributed to smartwatches' dominance in the market.

Fitness bands are expected to witness the fastest CAGR of 18.9% over the forecast period due to their specialization and affordability. These devices are dedicated to fitness and health tracking, often prioritizing sleep monitoring as a core feature. While they may lack extensive app ecosystems and advanced functionalities of smartwatches, fitness bands deliver accurate and reliable sleep data at a lower price point. They tend to have longer battery life, making them less intrusive to users who prefer not to charge their devices frequently. Their lightweight and flexibility are well-suited for continuous wear during sleep, contributing to sleep tracking accuracy. Moreover, fitness bands cater to a specific audience seeking a streamlined and cost-effective solution for monitoring sleep and fitness, making them the fastest-growing segment in the market as consumers increasingly prioritize health and sleep tracking without needing a full-featured smartwatch.

Distribution Channel Insights

在销售渠道方面,在线分配ibution channel held the largest revenue share of 64.8% in 2022 and is expected to continue its dominance with the fastest CAGR of 17.9% over the forecast period. Consumers can browse and purchase fitness trackers for sleep monitoring from their homes, eliminating the need to visit physical stores, which can be time-consuming. This convenience is particularly attractive for individuals with busy lifestyles. Furthermore, online platforms host many brands and models, allowing consumers to compare products, read reviews, and access complete information about different devices. This extensive choice empowers customers to make informed decisions, which is crucial when selecting a sleep-tracking device that aligns with their specific needs and preferences.

Online retailers often offer competitive pricing due to lower overhead costs than retail stores. These cost efficiencies enable online sellers to provide attractive discounts and deals on fitness trackers for sleep monitoring, making them more affordable for consumers. In addition, online distribution channels have a global reach, allowing manufacturers and retailers to tap into a broader customer base. This accessibility benefits companies seeking to expand their market presence and reach consumers in different regions. Furthermore, digital marketing and promotion strategies can effectively target potential buyers through online advertising, social media campaigns, and search engine optimization, further boosting the dominance of online distribution channels in the market.

Regional Insights

基于地区,北美主导市场t with the largest revenue share of 42.1% in 2022. The region has a strong culture of health and wellness, with a high awareness of the importance of tracking and improving sleep quality. This culture drives consumer demand for sleep-monitoring devices. In addition, North America is home to many key players in the wearable technology industry, including established companies and startups. These companies often introduce innovative sleep-tracking features, further fueling the market's growth. North America's relatively high disposable income also allows consumers to invest in fitness trackers with sleep-monitoring capabilities. In addition, strong distribution networks and extensive online and offline retail presence make it easy for consumers to access and purchase these devices.

Asia Pacific is expected to witness the fastest CAGR of 18.8% over the forecast period. This is because the region's large and diverse population is increasingly health-conscious, with a growing awareness of the importance of sleep for overall well-being. As disposable incomes rise across Asia Pacific, more consumers can afford fitness trackers offering sleep monitoring features. Moreover, Asia Pacific is witnessing rapid technological adoption and an expanding tech industry, including the development of affordable and feature-rich wearables. This has made sleep-tracking devices more accessible to a wider audience. In addition, the prevalence of smartphone usage in the region has made it easier for consumers to connect and sync their sleep trackers, enhancing the overall user experience. In addition, manufacturing hubs in countries like China, Japan, and India have produced a wide range of sleep-tracking devices, making them more readily available and affordable in Asia. This combination of factors has fueled the region's rapid growth in this market segment.

Key Companies & Market Share Insights

The key market players' rapidly changing technology and innovations present tough industry competition. The market players focus on research and development to provide more efficient products to cater to the rising demand. The increasing number of brands offering fitness trackers for sleep monitoring with advanced technology, continuous development of features offering the best customer experience and at prices suiting different earning groups, and growing e-commerce sector support the market growth. Some prominent players companies operating in the global fitness tracker for sleep monitoring market include:

• Apple, Inc.

• Fitbit, Inc.

• Garmin Ltd.

• Ambiotex GmbH

• Samsung Electronics Co. Ltd.

• Fossil Group, Inc.

• Huawei Technologies Co. Ltd.

Fitness Tracker For Sleep Monitoring MarketReport Scope

Report Attribute	Details
Market size value in 2023	USD 5.2 billion
Revenue forecast in 2030	USD 16.1 billion
Growth rate	CAGR of 17.7 % from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, distribution channel, region
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	美国;加拿大;德国;英国;法国;意大利;西班牙;Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait
Key companies profiled	Apple, Inc.; Fitbit, Inc.; Garmin Ltd.; Ambiotex GmbH; Samsung Electronics Co. Ltd.; Fossil Group, Inc.; Huawei Technologies Co. Ltd.
Customization scope	Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Global Fitness Tracker For Sleep Monitoring MarketReportSegmentation

这份报告预测全球、地区和在此y revenue growth and analyzes the latest industry trends in each sub-segment from 2018 to 2030. For this study, Grand View Research has segmented the global fitness tracker for sleep monitoring market report based on product type, distribution channel, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Smart Watches

  • Smart Bands

  • Smart Clothing

  • Others

• 分销渠道前景(收入,百万美元, 2018 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait