South Korea Smart Bed Market Overview
According to SPER Market Research, the South Korea Smart Bed Market is estimated to reach USD 0.20 billion by 2033 with a CAGR 4.35%.
The smart bed market is a relatively new industry that involves the use of advanced technology to create beds that are more than just a place to sleep. These beds are equipped with various features and sensors that can monitor a person's sleeping patterns and provide feedback to help improve the quality of their sleep. Some examples of smart bed features include adjustable firmness, built-in massage options, and the ability to connect to smart home devices like Amazon Alexa or Google Assistant. As people become more interested in improving their overall health and wellness, smart beds are becoming increasingly popular. While they may be more expensive than traditional beds, they offer unique benefits and can be worth the investment for those who prioritize their sleep and overall wellbeing.
Exploring the Growth Drivers of the South Korea Smart Bed Industry
The growth factors in South Korea for the smart bed market include increasing demand for home automation products, growing interest in health and wellness, technological advancements, rising disposable income. These factors are driving the demand for smart beds, which offer a range of features such as sleep tracking, adjustable firmness, temperature control, and voice control. With a thriving technology industry, South Korea is at the forefront of innovation in the smart bed market, and consumers are willing to invest in high-end products that offer advanced features and a superior user experience. As a result, the smart bed market in South Korea is expected to continue to grow in the coming years.
What challenges does the South Korea Smart Bed Market face?
The South Korean smart bed market is not without its challenges. While the market is growing rapidly, high competition among manufacturers, price sensitivity among consumers, and limited consumer awareness of the benefits of smart beds can make it difficult for new entrants to gain a foothold in the market. Additionally, smart beds rely on technology, making them susceptible to technical issues and malfunctions. Manufacturers must ensure that their products are reliable and provide good after-sales support to address any issues. These challenges highlight the need for manufacturers and retailers to be aware of the market's complexities and find innovative ways to overcome them to succeed in the South Korean smart bed market.
In what ways has the COVID-19 pandemic affected South Korea Smart Bed Market?
The COVID-19 pandemic has had a significant impact on the South Korean smart bed market. With people spending more time at home, there has been a growing interest in home automation and smart home devices, including smart beds. As consumers seek to create a comfortable and healthy home environment, there has been a surge in demand for smart beds that offer advanced features such as sleep tracking, temperature regulation, and voice control. However, the pandemic has also caused supply chain disruptions, which have affected production and delivery schedules, leading to delays and reduced sales.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Application, By Distribution Channel.
|
| Regions covered | Seoul, Gyeonggi, Busan, Daegu, Incheon Others. |
| Companies Covered | 3H Co. Ltd., Hill Rom Holdings Inc., Stryker Corporation, Vista Medical Ltd., Others.
|
Key Target Audience:
- Hotels
- Retailers
- Hospitals
- Others
South Korea Smart Bed Market Segmentation:
1. By Type:
- South Korea Smart Bed Market Value Share and Forecast, By Type, 2023-2033
- Manual
- Semi-Automatic
- Automatic
2. By Application:
- South Korea Smart Bed Market Value Share and Forecast, By Application, 2023-2033
- Hospitality
- Healthcare
- Residential
- Others
3. By Distribution Channel:
- South Korea Smart Bed Market Value Share and Forecast, By Distribution Channel, 2023-2033
- Supermarket/Hypermarket
- Speciality stores
- Online stores
- Others
4. By Region:
- Seoul
- Gyeonggi
- Busan
- Daegu
- Incheon
- Others
Key Topics Covered in the Report:
- South Korea Smart Bed Market Size (FY’2023-FY’2033)
- Overview of South Korea Smart Bed Market
- Segmentation of South Korea Smart Bed Market By Type (Manual, Semi-Automatic, Automatic)
- Segmentation of South Korea Smart Bed Market By Application (Hospitality, Healthcare, Residential, Others)
- Segmentation of South Korea Smart Bed Market By Distribution Channel (Supermarket/Hypermarket, Speciality stores, Online stores, Others)
- Statistical Snap of South Korea Smart Bed Market
- Growth Analysis of South Korea Smart Bed Market
- Problems and Challenges in South Korea Smart Bed Market
- Competitive Landscape in the South Korea Smart Bed Market
- Impact of COVID-19 and Demonetization on South Korea Smart Bed Market
- Details on Recent Investment in South Korea Smart Bed Market
- Competitive Analysis of South Korea Smart Bed Market
- Key Players in the South Korea Smart Bed Market
- SWOT Analysis of South Korea Smart Bed Market
- South Korea Smart Bed Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Smart Bed Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Smart Bed Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Smart Bed Market
7. South Korea Smart Bed Market, By Type (USD Million)
7.1. South Korea Smart Bed Market Value Share and Forecast, By Type, 2023-2033
7.2. Manual
7.3. Semi-Automatic
7.4. Automatic
8. South Korea Smart Bed Market, By Application (USD Million)
8.1. South Korea Smart Bed Market Value Share and Forecast, By Application, 2023-2033
8.2. Hospitality
8.3. Healthcare
8.4. Residential
8.5. Others
9. South Korea Smart Bed Market, By Distribution Channel (USD Million)
9.1. South Korea Smart Bed Market Value Share and Forecast, By Distribution Channel, 2023-2033
9.2. Supermarket/Hypermarket
9.3. Speciality stores
9.4. Online stores
9.5. Others
10. South Korea Smart Bed Market Forecast, 2019-2033 (USD Million)
10.1. South Korea Smart Bed Market Size and Market Share
11. South Korea Smart Bed Market, By Type, 2019-2023 (USD Million)
11.1. South Korea Smart Bed Market Size and Market Share by Type (2019-2026)
11.2. South Korea Smart Bed Market Size and Market Share by Type (2027-2033)
12. South Korea Smart Bed Market, By Application, 2019-2023 (USD Million)
12.1. South Korea Smart Bed Market Size and Market Share by Application (2019-2026)
12.2. South Korea Smart Bed Market Size and Market Share by Application (2027-2033)
13. South Korea Smart Bed Market, By Distribution Channel, 2019-2023 (USD Million)
13.1. South Korea Smart Bed Market Size and Market Share by Distribution Channel (2019-2026)
13.2. South Korea Smart Bed Market Size and Market Share by Distribution Channel (2027-2033)
14. South Korea Smart Bed Market, By Region, 2019-2023 (USD Million)
14.1. South Korea Smart Bed Market Size and Market Share by Region (2019-2026)
14.2. South Korea Smart Bed Market Size and Market Share by Region (2027-2033)
14.3. Seoul
14.4. Gyeonggi
14.5. Busan
14.6. Daegu
14.7. Incheon
14.8. Others
15. Company Profile
15.1. 3H Co. Ltd.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Hill Rom Holdings, Inc.
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Stryker Corporation
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Vista Medical Ltd.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
