Global Hybrid Mattress Market 2019-2023 | 8% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 24, 2019--
The global hybrid mattress market is expected to post a CAGR of more than 8% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global hybrid mattress market from 2019-2023. (Graphic: Business Wire)
The easy availability of smart gadgets and the increasing penetration of the internet have helped consumers to access online shopping platforms. Moreover, the convenience of online shopping and additional transactional features of e-commerce platforms are shifting consumer preference from offline to online. As a result, hybrid mattress companies are leveraging online platforms to expand their geographical reach and consumer base. Manufacturers and retailers have considerable market potential in developing countries due to the increasing number of internet users. Therefore, the increase in online retailing will significantly contribute to the growth of the hybrid mattress market size during the forecast period.
As per Technavio, the introduction of smart mattresses will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global hybrid mattress market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over the forecast period.
Global hybrid mattress market: Introduction of smart mattresses
Smart mattresses are gaining immense popularity in the market as they offer technologically advanced features such as sleep monitoring systems. Sensors located under the mattress track sleeping hours, sleep movements of people, and other vital records. Such mattresses are characterized by distant operability, alarm-setting features, and automatic angle adjustments. The incorporation of such smart features in hybrid mattresses will help improve convenience, comfort, and overall sleeping experience of consumers, thereby, increasing the overall demand for hybrid mattresses.
“Apart from the introduction of smart mattresses, other factors such as the growing demand for eco-friendly mattresses, growth of real estate and construction industry, and the growing need for multifunctional beds will have a significant impact on the growth of the hybrid mattress market size during the forecast period,” says a senior analyst at Technavio.
Global hybrid mattress market: Segmentation analysis
This market research report segments the global hybrid mattress market by distribution channel (online, and offline), and geographic regions (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. The demand for mattresses, including hybrid mattresses, is increasing significantly, owing to the exponential growth of the real estate industry. The increase in disposable income in countries such as China, India, Japan, and South Korea is adding to the growing demand for new homes, resulting in the growing demand for hybrid mattresses.
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Five Forces Analysis
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