Sleep Tech is Booming

Sleep Tech

By Sara Tormena

According to WGSN Consumer Tech, the demand for effective devices that can help people combat sleep-related issues including insomnia and apnea has increased significantly since 2016. In the last few years, sleep technology has gained popularity, dominating the floor at events like CES 2020, where it took first place in the Home & Lifestyle Trends category. Moreover, the growing awareness regarding benefits of quality sleep on health and well-being has also played a significant role in the desire for smart tech devices that promote a deeper sleep.

EMERGING TREND IN THE CONSUMER ELECTRONICS MARKET

The wearable and non-wearable devices market for sleep technology offers a significant variety of products. The range of products keeps increasing from smart watches, sleep-tracking products, sleep-friendly sensorial devices, sleep masks, audio equipment, noise cancelling earbuds and other technologies that can help people relax and fight tension. Smaller manufacturers have been pioneering in this new branch of the industry, but some major players entered the market in response to the high level of consumer demand.

MARKET SIZE AND FUTURE PROJECTIONS

The sleep tech market represents incredible opportunities of future growth. In 2021, the industry was valued around 15 billion US dollars and is expected to increase by 18.1% CAGR from 2022 to 2030. The global market research and consulting company, Global Market Insights, projects that by 2030 the market will reach 67.7 billion US dollars. Consumer awareness of the wide range of sleep technology products in developing and underdeveloped nations are beginning to drive market expansion. Given the recent numbers, it has become clear that this sector has an enormous economic potential and that it will continue to grow.

Tradesnest is constantly keeping an eye on the latest trends in an effort to find interesting and original innovations for distributors on the platform with the goal to support the innovative brands find a way to have their products in the market. Our unique all-in-one platform provides a variety of consumer electronics products from which many sleep tech devices have found their way into the spotlight.

We take pride on having some of the most cutting-edge companies that provides products assisting individuals enhance their sleep quality as business partners. One great example is Moonbird, a Belgian firm whose little portable device improves sleep and lower stress levels by promoting respiratory regulation. This has been proven by studies and their numerous satisfied clients that do no longer rely on their phones or applications waking up feeling tense in the middle of the night are there to testify. QuietOn is another great example of an innovative company playing in this space with their noise-cancelling earbuds brings its users into a state of tranquility and calm. These are only two of the many outstanding brands that can be found on our platform. 

Are you intrigued by the possibilities the sleep technology market might offer and looking for innovative products to expand your portfolio? Perhaps are you a manufacturer in the sleep technology sector looking for an efficient and affordable way to introduce your amazing and ground-breaking products to a larger audience? In both cases, Tradesnest is the solution that will accelerate and simplify your search for the ideal business partner.

Register on Tradesnest.com today and start growing your business today!