June 16, 2024

Global Sleep App Market is Estimated to Witness High Growth Owing to Advancements in Sleep Tracking Technologies

The global sleep app market comprises various software applications that help track sleep patterns, provide sleep analysis, and offer relaxation techniques like meditation, white noise, sleep stories etc. to improve sleep quality. Such apps rely on cutting-edge sleep tracking features using wearable devices like fitness bands and smartwatches to record biometric data like heart rate, movement and breathing patterns while sleeping. This data is analyzed to determine sleep stages, disturbances and provide insights. The growing awareness about importance of good sleep and adoption of wearables is fuelling demand for sleep apps.

The Global Sleep App Market Size is estimated to be valued at US$ 1,070.9 million in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global sleep app market includes Sleep Cycle, Sleep As Android, Pillow, Sleep Better, Sleep Genius, Timeshifter, Calm, Sleep Stories, Relax Melodies, Noisli. These players are focusing on integrating advanced sleep tracking technologies like radar sensors in their apps and wearables to provide more accurate sleep analysis.

The rising prevalence of sleep disorders and busy lifestyles leading to sleep deprivation is generating demand for sleep apps. They help address issues like insomnia, snoring through relaxation aids and monitoring sleep patterns to identify root causes. This is a major opportunity for key players in the market.

Technological advancements like integration of AI and machine learning capabilities in sleep apps are allowing personalized sleep coaching and suggestions. This is improving efficacy of apps in addressing individual sleep issues. Integration of biomarkers is also enabling predictive analysis of sleep quality and potential disturbances.

Market Drivers

Growing health consciousness – There is increasing awareness about importance of good quality sleep for overall health and well-being. This is driving adoption of sleep apps to track and improve sleep.

Adoption of wearables – Widespread use of smartwatches and fitness bands equipped with advanced sensors is supporting accurate sleep tracking via apps and boosting the market growth.

Increasing prevalence of sleep disorders – Rising stress levels and health issues have led to 60-70% of the population suffering from occasional or chronic sleep problems. This is creating demand for sleep apps.

Current challenges in the Global Sleep App Market

The global sleep app market is still in a nascent phase. Lack of awareness about sleep tracking and analysis is one of the major challenges faced by the market. Data privacy and data security are also big concerns for users when using sleep tracking apps on their smartphones. Accuracy in sleep tracking is another challenge as many low-cost fitness bands and apps fail to provide consistently accurate sleep data. Convincing users about the importance of tracking sleep patterns and creating behavior change or lifestyle modifications based on insights can be difficult initially. High subscription or renewal costs of premium sleep apps is also a restraining factor for broader adoption of such apps.

SWOT Analysis
Strength: Sleep apps provide non-intrusive and convenient way to track sleep patterns. Detailed analysis and insights help improve sleep habits.
Weakness: Issues regarding data privacy and potential security breaches. Inaccuracy in sleep tracking by low-cost apps/devices.
Opportunity: Growing health awareness and preventive healthcare trend create demand. Expanding into other health domains like meditation, mindfulness etc.
Threats: Competition from specialized sleep oriented wearables and devices. Regulations related to data usage and privacy.

North America has been the largest regional market for sleep apps, accounting for over 35% share in 2024 in terms of revenue. High health awareness, high disposable incomes, and growing prevalence of lifestyle diseases have aided market growth. Asia Pacific region is expected to witness the fastest CAGR during the forecast period due to increasing health expenditure, rising working population, growing middle class, and improving connectivity in countries like India and China. The growing middle class is also likely to have increased discretionary spending on health apps in these regions.

Europe is another major regional market for sleep apps attributed to growing elderly population, increasing prevalence of sleep disorders, and high use of smartphones for healthcare needs. Countries like U.K., Germany, and France account for major share in the Europe sleep apps market. Growing adoption of mHealth applications indicates strong demand potential in the future.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it