Commentary

Sleepless: 51% Willing To Buy A Sleep Tech Product

Many consumers have the capability to use Internet of Things technology while they sleep.

They actually can use the tech specifically to get information about their sleeping habits.

There’s reason for that, since more than 59 million U.S. households have at least one sleep problem and more than half (51%) express a willingness to buy a sleep tech product, according to a new study by Parks Associates.

More than a quarter (28%) of consumers in broadband households own a product that can track sleep. These include fitness trackers, smart watches, mattresses with embedded sensors, standalone sleep tracking sensors products and apps to track sleep.

The challenge, which is typical with many IoT innovations, is lack of awareness. Despite the growing penetration of big-brand wearables like Apple Watch and Fitbit devices, 35% of consumers are unfamiliar with smart watches and 31% are not familiar with fitness trackers.

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With more than half (57%) of consumers reporting suffering at least one sleep problem, ranging from trouble falling asleep to insomnia, almost half (47%) say they need help to improve their sleep quality, according to the Parks study.

The market gap is pretty clear. While 47% need help improving their sleep quality, only 28% currently own a sleep tracking product. The marketing opportunity: the 53 million people willing to buy a sleep tracking product.

1 comment about "Sleepless: 51% Willing To Buy A Sleep Tech Product".
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  1. Nick Cavarra from Panacea Life Sciences, July 24, 2018 at 1:47 p.m.

    Chuck, thank you for writing the article on sleep issues.  I am one of the 59 million people that has a sleep issue.  My mind would race and I am unable to fall asleep.  But let me suggest having your readers try Panacea's Medical Grade Daily Hemp extracts for a product that can truly make a difference as it did for me.  Our products provide cannabinoid aid in treating many sleep disorders without addiction.  I take our Daily 40 each night and the results are simply amazing.  Your readers can email me or contact us at Panacea Life Sciences and we would be happy to provide free samples to see if we can help.  thank you.

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