Baby Monitor Market Worldwide Growth and Forecast 2022
DecisionDatabases.com adds a new research report on "Global Baby Monitor Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast". The report does an in-depth study of the current baby monitor market dynamics and future projections using analytical tools such as Porter’s Five Forces Model, value chain analysis, market attractiveness analysis, and company share analysis.
A baby monitor is mainly an alarming system to remotely track the activities and movements of a baby by the parents. The baby monitor consists of two units an audio and a video monitor to communicate, watch and to monitor baby’s activities on daily basis. Over the past few years, baby monitor has technologically emerged with an installed lullabies & movement trackers facility, to cater the changing needs of the parents.
Market Drivers and Restraints
The increasing number of working parents, rising awareness about kid’s safety, increasing preference for nuclear families and growing monthly household income are major growth drivers, which are expected to fuel demand for this market over the coming years. In addition, rising opportunity for online retailing will further aid in the growth of baby monitor market in the near future. Baby monitor fulfills the emotional need of parents by offering peace of mind, particularly during the night or in a case of any emergency. However, declining average birth rates due to sedentary living style and safety concerns related to these products are major challenges, which can restrict the growth for baby monitor market in the forthcoming years. Irrespective of restraints, the industry is expected to offer lucrative business opportunities globally in the near future.
The global baby monitor market has been segmented based on type into audio and video. The video baby monitor has accounted for a major share in past and is anticipated to continue its dominance over the coming years on account of rising demand for advanced baby monitoring devices with smart & high-end monitoring features. Th has been further segmented based on the mode of connection into wired and wireless. The wireless is a leading segment by the mode of connection and is expected to witness a double-digit growth over the forecast period owing to its growing preference amongst parents due to it’s a wide range of offerings such as portability, easy installation, convenient and ease of connection to WLAN features, across the globe.
The North America is a major market for the baby monitor and is projected to continue its dominance in the forthcoming years due to higher spending on baby-care items and rising prevalence of nuclear family tradition in the region. Asia Pacific is also expected to witness a substantial growth over the coming years owing to the growing demand for baby monitors, increasing awareness about baby’s safety, high disposable income and growing working culture amongst parents, especially in the China and India.
The key players include Samsung Electronics Co. Ltd., Dorel Industries Inc., Angelcare Monitors Inc., LOREX Technology Inc., VTech Holdings Ltd., ShenZhen Foscam Intelligent Technology Co., Ltd, Summer Infant Inc., Koninklijke Philips N.V, Nest Lab. Inc., and Withings Inc. The baby monitor market is majorly driven by various growth strategies such as product expansion and merger & acquisition.
Market News Glimpse
In June 2016, Nanit launched an advanced IOT baby monitor with a range of unique application such as tracking baby’s sleeping patterns, sleep quality and room conditions.
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