Wilmington, Delaware, United States , March 08, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global is anticipated to rise at a CAGR of 4.4% during the forecast period, 2021 to 2031. There is a high demand for baby monitors from infant daycare centers attributable to the increase in the number of working people worldwide. This demand from daycare centers for infants is projected to boost the smart baby monitor market share in the forecast period.
As per the baby monitor market analysis, the advent of multiple e-commerce platforms and high adoption of innovative products for monitoring, and security of their infants. The rise in awareness and knowledge of sudden infant death syndrome has put parents into opting for safety devices for monitoring purposes so as they stay connected to their toddlers in day care or in the child room. The availability of both wired and wireless baby monitors will serve as a significant baby monitor industry trends in the forecast period.
The need for pocket-friendly and cost efficient products in baby care sector is projected to aid in expansion of the global baby monitor industry growth. Besides this, the rise in disposable incomes of working parents and the willingness to spend on child health and safety will further help generate lucrative growth opportunities for the global baby monitors market in the long run. The global baby monitor market is projected to rise from revenue of US$ 1Bn in 2020 and reach a value of US$ 1.7 Bn by the end of 2031.
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Key Findings of Study
- Increasing Awareness about Child Safety and Protection to Spur Growth: The rapid inclination of consumers towards digitalized products has propelled people to rely on electronic and smart gadgets. Baby monitors help to keep an eye on their children with the help of technology. The growing knowledge about the importance and multiple benefits of smart baby monitors will help promote the growth of the baby monitors market in the future.
- Rising Prevalence of SIDS will Bolster Growth: The increasing awareness about sudden infant death syndrome (SIDS) is projected to boost the sales of top Wi-Fi baby monitors 2022. This is projected to continue in the forecast period as well owing to continuous efforts by manufacturers and the advent of better monitoring products for infant safety.
Key Drivers
- The rapidly growing demand for consumer electronic products is augmenting the demand for smart products especially in homecare and security sector. Products such as video monitors and wireless monitors are in high demand.
- Rise in number of working mothers and need for real-time interaction with the children through an electronic device will ensure connectivity and supplement the growth of the child. The growing use of cameras, smart security, and smart monitoring systems in homes and day care centers will augment the growth of the baby monitors market.
- The introduction of artificial intelligence, temperature sensors, and other smart technologies into electronic monitoring devices for infant surveillance will further serve as a significant baby monitor industry trend.
Regional Growth Dynamics
- As per the baby monitor market analysis, North America emerged dominant in 2020 and is likely to continue so in the forecast period, owing to the presence of major players, and advanced infrastructure and facilities that serve as manufacturing base.
- The increasing rate of nuclear household and willingness of consumers to spend more on their baby’s health and welfare will promote the baby monitor market size in the U.S, ultimately helping North America to continue dominance in the forecast period.
Key Players
Some of the key players of the global baby monitors market include
- VTech Holdings Ltd.,
- Summer Infant Inc.,
- Dorel Industries Inc.,
- Samsung Electronics Co. Ltd.,
- Koninklijke Philips N.V.,
- Sony Corporation, and others.
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Baby Monitors Market Segmentation
Product
- Audio Monitor
- Video Monitor
- Baby Movement Monitors
- Others (sleep trackers such as wristwatch, or sensor products, etc.)
Connectivity
- Wired Baby Monitors
- Wireless Baby Monitors
Range
- Up to 249 ft
- 250 to 499 ft
- 500 to 749 ft
- 750 to 999 ft
- 1000 to 1499 ft
- Above 1499 ft
By Price Range
- Low (Below US$ 50)
- Medium (US $ 50-200)
- High (Above US$200)
Application
- Residential
- Commerical
- Baby Care Centers
- Nursery
- Others (Asylums/ Hospitals, etc.)
Distribution Channel
- Offline
- Direct Sales
- Indirect Sales
- Online
- E-Commerce Websites
- Company Owned Websites
Regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Countries
- U.S.
- Canada
- Germany
- U.K.
- France
- Spain
- Italy
- Russia & CIS
- China
- India
- Japan
- ASEAN
- Brazil
- Mexico
- GCC
- South Africa
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 10 years.
