Smart Pillows Market by Distribution channel and Geography - Forecast and Analysis 2022-2026

The smart pillows market share is expected to increase by USD 661.29 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 18.38%.

This smart pillows market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the smart pillows market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The smart pillows market report also offers information on several market vendors, including 10minds, ADVANSA GmbH, Casper Sleep Inc., Gio Clavis Co. Ltd., iSense, MAETEL, Mediflow Inc., Moona, Pressure Profile Systems, REM-Fit, Serta Simmons Bedding LLC, Smart Nora, The Sleep Co., and Wendre Group among others.

What will the Smart Pillows Market Size be During the Forecast Period?

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Smart Pillows Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global smart pillows market. During the COVID-19 pandemic, the demand for the smart pillows market has been impacted significantly, but a holistic analysis of drivers will help in estimating exact demands and refining marketing strategies to gain a competitive advantage.

Key Smart Pillows Market Driver

The demand for higher levels of comfort in developed countries is a key factor driving the global smart pillows market growth. The demand for smart home accessories, such as smart beds and pillows, has been spurred by rising customer interest in building a smart home ecosystem, which is anticipated to increase product demand in the residential sector during the forecast period. Since the COVID-19 pandemic began in 2020, 70% of people have started modifying their living spaces. Nearly 51% have bought at least one smart home device, according to Xiaomi Corp. Tech-savvy customers are aware of the most recent innovations and are willing to spend money on connected home solutions that can simplify and improve their lives. The adoption of smart technology devices by customers in their homes has significantly increased the demand for products for smart homes worldwide. Thus, the growing penetration of smart homes drives the growth of the global smart pillows market during the forecast period.

Key Smart Pillows Market Trend

The rising adoption of technology-driven devices will fuel the global smart pillows market growth. The adoption of smart pillows is driven by the growing popularity of technology-based devices that offer valuable information about health and well-being. Millennials stand out for their use of technology-driven devices. Smart beds combine cutting-edge features with technology that enables connectivity and comfortable adjustments while users sleep. These features include anti-snoring technology, climate control, smart fabric technology, automatic mattress firmness adjustment, sleep tracking, IoT, and smart home connectivity.  Demand in the global smart pillows market is attributed to product advancements by well-known manufacturers. The incorporation of such advanced features will help in attracting customers because blue light is thought to awaken people much more effectively. Thus, the growing popularity of technology-based devices will drive the growth of the global pillows market during the forecast period.

Key Smart Pillows Market Challenge

The presence of counterfeit products is the major challenge to the global smart pillows market growth. The growing market prospects for smart pillows and their surging demand have encouraged the entry of manufacturers of counterfeit smart pillows into the market, especially in developing countries such as India and Indonesia. Counterfeit products are made of low-quality raw materials and have less durability. The growth of e-commerce is also enhancing the reach, sales, and distribution of counterfeit goods. Customers sometimes fail to distinguish between real products and counterfeits since they look identical. One of the things that make counterfeit products so popular is their relatively low cost. Therefore, the availability of counterfeit products has a negative impact on vendors' pricing and sales strategies by reducing their market shares and ruining their reputation. To overcome these challenges, global vendors are compelled to lower their prices, which reduces their profit margins. This also affects the value of sales in the market. However, advertising and promotional campaigns help vendors retain and attract customers and ensure their loyalty to brands. This also prevents customers from shifting to counterfeit products. Thus, the presence of counterfeit products is expected to limit the growth of the global smart pillows market during the forecast period.

This smart pillows market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global smart pillows market as a part of the global home furnishings market within the global household durables industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart pillows market during the forecast period.

Who are the Major Smart Pillows Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• 10minds
• ADVANSA GmbH
• Casper Sleep Inc.
• Gio Clavis Co. Ltd.
• iSense
• MAETEL
• Mediflow Inc.
• Moona
• Pressure Profile Systems
• REM-Fit
• Serta Simmons Bedding LLC
• Smart Nora
• The Sleep Co.
• Wendre Group

This statistical study of the smart pillows market encompasses successful business strategies deployed by the key vendors. The smart pillows market is concentrated, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• koreabreo.com - The company, 10minds, offers smart pillows such as the Motion Pillow.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The smart pillows market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Pillows Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart pillows market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global home furnishings market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Smart Pillows Market?

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37% of the market’s growth will originate from North America during the forecast period. The US is the key market for smart pillows market in North America. Market growth in this region will be slower than the growth of the market in regions.

The demand for higher levels of comfort from developed countries will facilitate the smart pillows market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 negatively impacted the regional smart pillows market. The pandemic resulted in thousands of deaths, prompting countries in the region, such as the US, Canada, and Mexico, to impose stringent lockdowns and other restrictions, such as stay-at-home orders. Manufacturing units for smart pillows in the region were temporarily shut down due to the implementation of lockdowns to contain the spread of the disease. This significantly impacted offline retail sales. Since the outbreak of COVID-19, online shopping has been on the rise, and this trend is expected to continue during the forecast period, contributing to the growth of the market. However, in 2021, the introduction of COVID-19 vaccines led to the resumption of activities in offline retail channels. This increased the demand for smart pillows from offline channels. Thus, such factors are expected to drive the growth of the regional smart pillows market during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the Smart Pillows Market?

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The smart pillows market share growth in the offline segment will be significant during the forecast period. The offline segment in the smart pillows market is expected to witness significant growth in terms of CAGR when compared to the online segment during the forecast period. The offline distribution channel comprises physical stores that offer smart pillows and beds, and it is a popular channel for purchasing such household products. This includes specialty stores, hypermarkets, supermarkets, and department stores. Specialty stores comprise company-owned stores, franchisees, and third-party retailers. The specialty stores' retail format is the highest revenue generator among other retail formats in the global smart pillows market. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart pillows market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Smart Pillows Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 18.38%
Market growth 2022-2026	$661.29 million
Market structure	Concentrated
YoY growth (%)	17.78
Regional analysis	North America, Europe, APAC, South America, and the Middle East and Africa
Performing market contribution	North America at 37%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	10minds, ADVANSA GmbH, Casper Sleep Inc., Gio Clavis Co. Ltd., iSense, MAETEL, Mediflow Inc., Moona, Pressure Profile Systems, REM-Fit, Serta Simmons Bedding LLC, Smart Nora, The Sleep Co., and Wendre Group
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Pillows Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive smart pillows market growth during the next five years
• Precise estimation of the smart pillows market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smart pillows industry across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart pillows market vendors

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