DUBLIN, Feb. 17, 2023 /PRNewswire/ — The “Baby Monitor Market – Global Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The baby monitor market by revenue is expected to grow at a CAGR of 15.45% from 2022 to 2028.
One of the key trends in the baby monitors market is the rising shift towards smart homes. People are shifting toward smart homes, and their appetite for IoT and smart home technologies is growing.
People want to digitalize their homes and take additional infant safety measures with modern technologies like IoT. IoT technology in smart baby monitors allows parents to look for their children to listen to their sounds while working. People are moving towards smart baby monitors for convenience and ease in caring for an infant.
The connectivity with mobile apps has significantly propelled the growth of smart devices and smart baby monitors. Innovations and technological advancements regarding child safety and care have significantly fueled the demand for smart baby monitors. Moreover, millennial parents are choosing smart technologies for their babies, and the demand for smart baby monitors is expected to rise from millennial parents in countries like the US, Germany, China, and France.
Increase In Tech-Savvy Millenial Parents
Millennials tend to be more tech-savvy and knowledgeable.
The new-age millennial parents are adopting smart technology for their babies. The modern parenting trend is also transforming nurseries into connected data centers. Millennials are a generation who are more accustomed to data, metrics, and real-time information in everyday life.
Over the past 3-4 years, technology has become more obvious in parenting, where monitoring the baby’s health in real time has been a breakthrough. Despite the new monitoring technologies being expensive and not a mandatory feature, millennial parents get more excited about adopting them to make their parenting more convenient and are the early technology adopters in the market.
Millennials make up over 25% of the global population, with 9 out of 10 millennials living in emerging economies. With most millennial parents in China, the US, Germany, and France leaving their homes to work, the demand for digital baby monitors is expected to be more significant, further contributing to the baby monitor market.
However, baby monitor vendors can look for millennial working parents in under-penetrated countries like India, South Africa, Brazil, and Thailand.
Low Penetration Rate In Emerging Economies
Among baby care products, the penetration of baby monitors in developing countries remains relatively lower than in developed nations.
The low awareness about SIDS (Sudden Unexpected Infant Death) in developing markets, the high cost of smart baby monitors, and the lack of awareness about monitor products are major growth inhibitors for the baby monitor market. Further, end-users in many countries in regions like APAC, the Middle East, and Africa perceive baby monitors as luxury products.
Thus, the penetration among these households in these regions remains relatively low. India, Taiwan, Nigeria, Turkey, Kenya, and Chile was some of the major economies that had a slower adoption despite the vast addressable industry in 2020. However, in the baby monitor market, expansion opportunities and a rise in disposable income can reduce the impact of the challenge Y-O-Y.
Countries like India are highly price-sensitive nations, which is considered a major hindrance for expensive baby monitors. Further, the concentration of vendors in established markets of North America and Europe leaves the growing economies untapped with huge unexploited opportunities. The regional preferences and spending patterns on baby care products differ in APAC and Latin America from the western countries.
Dorel Industries, Motorola Mobility, Vtech, Lorex Technology, and Summer Infant are the key players in the global baby monitor market. Currently, the market is dominated by vendors with an international presence. Moreover, to gain a greater market share, many international players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing APAC and Latin American countries.
Also, improving global economic conditions would fuel the market’s growth, making it an attractive time to launch new products. With the rise in working moms, the socio-economic factor has demanded them to pursue their work even after childbirth and eventually led to the rise in preference for smart variants in specific.
The rapidly changing technological environment could adversely affect vendors as customers expect continuous innovations and upgrades. The present scenario drives vendors to alter and refine their unique value proposition to achieve a strong baby monitor market presence.
The adoption rate of baby monitors among end-users worldwide has been impressive. As a result of the increased demand, the market has witnessed the entry of many vendors. Intensifying competition among market players has led to the introduction of innovative and advanced solutions. These players compete on various factors such as price, availability, brand, and variety.
The global baby monitor market is witnessing an increase in the influence of digital consumerism on retail sales of smart baby monitors. There is a wide scope for vendors to increase their profitability by adopting e-commerce as a business platform. The largest online marketplaces for baby monitors are Amazon, First Cry, eBay, Ubuy, and Buy Buy Baby, among others.
With increasing internet penetration, several online websites have come to serve parents who seek convenience and easy accessibility to get these products.
Further, acquiring a medical certification would allow vendors to market their products to institutional users such as government hospitals or maternity care centers. Jablotron, the provider of NANNY baby movement monitors, has obtained medical certification from the EU and markets its movement monitor as a SIDS prevention product in the European markets.
Thus, obtaining medical certifications and approval from regulatory bodies can enhance the trust and momentum for products like baby breathing monitors.
Key Company Profiles
- Dorel Industries
- Motorola Mobility
- Lorex Technology
- Summer Infant
Other Prominent Vendors
- Koninklijke Philips
- Samsung Electronics
- iBaby Labs
- Hanwha Techwin
- The Holding Angelcare
- Mayborn Group
- Snuza International
- iBabyGuard International
- Owlet Baby Care
- Infant Optics
- MOBI Technologies
- Panasonic Corporation
- Procter & Gamble
- Baby Delight
- Eastman Kodak Company
- Cubo Ai
- Wyze Labs
Key Questions Answered
- How big is the baby monitor market?
- How much will the global baby monitor market be worth in the future?
- What are the segments of the baby monitor market?
- What is the growth rate of the global baby monitors market?
- What are the key industry trends of the global baby monitors market?
- Who are the leading players in the smart baby monitor market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Product
4.3.2 Market Segmentation by Transmission
4.3.3 Market Segmentation by Type
4.3.4 Market Segmentation by Distribution
4.3.5 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Premium Insights
6.1 Market Definition
6.2 Report Overview
6.3 Macroeconomic Factors Enabling Market Growth
6.4 Demographic Analysis
6.5 Opportunities & Challenge Analysis
6.6 Segment Analysis
6.7 Regional Analysis
6.8 Competitive Landscape
7 Market at a Glance
8.1.1 Macroeconomic Factors Enabling Market Growth
8.1.2 Per Capita Gdp in Developing Markets
8.1.3 Dual-Income Hosueholds in Developed Markets
8.1.4 Demographic Analysis
8.2 Value Chain Analysis
8.2.1 Raw Materials
9 Market Opportunities & Trends
9.1 Growing Demand for Smart Baby Monitors
9.2 Increase in Tech-Savvy Millenial Parents
9.3 Rising Shift Toward Smart Homes
9.4 Development in Li-Ion Batteries
10 Market Growth Enablers
10.1 Growing Concerned About Child Safety
10.2 High Penetration of Smartphones
10.3 Internet Shaping Consumer Buying Behavior
10.4 Increasing Number of Nuclear Families
10.5 Declining Infant Mortality Rates
10.6 Surge in Number of Employed Parents & Women Employment
11 Market Restraints
11.1 Health Hazards Due to Electromagnetic Radiation
11.2 High Threat of Alternative Products
11.3 Changing End-User Sociography
11.4 Low Penetration Rate in Emerging Economies
12 Market Landscape
12.1 Market Overview
12.2 Historical Data 2015-2021
12.2.1 Covid-19 Impact Analysis
12.3 Market Size & Forecast
12.4 Five Forces Analysis
12.4.1 Threat of New Entrants
12.4.2 Bargaining Power of Suppliers
12.4.3 Bargaining Power of Buyers
12.4.4 Threat of Substitutes
12.4.5 Competitive Rivalry
13.1 Market Snapshot & Growth Engine (Revenue & Unit Shipments)
13.2 Market Overview
13.3 Audio & Video
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography (Revenue & Unit Shipments)
13.4 Movement Monitor
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography (Revenue & Unit Shipments)
13.4.4 Under-The-Mattress Movement Monitor: Market Size & Forecast
13.4.5 Diaper Attachment Movement Monitor
13.4.6 Smart Wearable Movement Monitor
13.5 Audio Only
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography (Revenue & Unit Shipments)
14.1 Market Snapshot & Growth Engine (Revenue & Unit Shipments)
14.2 Market Overview
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Market by Geography (Revenue & Unit Shipments)
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Market by Geography (Revenue & Shipments)
15.1 Market Snapshot & Growth Engine (Revenue & Unit Shipments)
15.2 Market Overview
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Market by Geography (Revenue & Unit Shipments)
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.4.3 Market by Geography (Revenue & Unit Shipments)
16 Distribution Channel
16.1 Market Snapshot & Growth Engine (Revenue & Unit Shipments)
16.2 Market Overview
16.2.1 Manufacture, Production, and Distribution
16.3.1 Market Size & Forecast
16.3.2 Market by Geography
16.4.1 Market Size & Forecast
16.4.2 Market by Geography
18 North America
21 Latin America
22 Middle East & Africa
23 Competitive Landscape
24 Key Company Profiles
25 Other Prominent Vendors
27 Quantitative Summary
28 North America
29 Europe – Revenue & Unit Shipment
30 APAC – Revenue & Unit Shipment
31 Latin America
32 Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/q74e9-monitor?w=5
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