Advanced Baby Monitors Market Highlights:
The Global Advanced Baby Monitors Market is expecting to touch a valuation of USD 1880.57 Million by 2025, according to Market Research Future (MRFR). The rising numbers of working parents coupled with safety concerns regarding their children is likely to drive market demand from 2018 to 2025 (forecast period).
The increasing living standards and the need for parents in developing economies to work to sustain their lifestyle is predicted to augur market volume. According to an article by the Office for National Statistics in England in 2017, the number of working mothers had shot up to 4.9 million.
The proliferation of the Internet has made online stores available to every nook and cranny worldwide. This gives parents the option to purchase the required baby monitors at their convenience. Presence of portals such as Amazon, Walmart, etc. is expected to spur the advanced baby monitors market growth over the forecast period. But lack of approval by federal agencies regarding the commercialization of baby monitors can impede market growth.
Advanced Baby Monitors Market Segmentation:
The Advanced Baby Monitors Market can be segmented by product and end-user.
Products in the market comprise stationary type and wearable type. The stationary type segment accounted for nearly 80% market share in 2017. It is expected to register a 9.09% CAGR during the forecast period to reach a valuation of USD 1491.85 million by 2025. On the flip side, the wearable type segment is predicted to exhibit a higher CAGR (9.61%) than its counterpart over the assessment period. These systems are gaining popularity owing to its extensive range of features such as heart rate, blood oxygen level, and body temperature.
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Graco Children’s Products, Inc. (U.S.),
Summer Infant, Inc. (U.S.),
Snuza International (South Africa),
MOTOROLA HOME (U.S.),
Lorex Technology Inc. (Canada),
Owlet Baby Care (U.S.),
Mayborn Group (U.K.),
Koninklijke Philips N.V. (Netherlands),
The First Years, Inc. (U.S.),
Samsung Electronics Co. Ltd. (South Korea),
MonDevices (U.S.) and Safety 1st (U.S.).
Major end-users include home care, day care, and others. The home care segment accounted for 87% share of the advanced baby monitors market in 2017. On the other hand, the day care segment accounted for 9.3% share, followed with 3.7% share by ‘others’ in the same year. The home care segment can touch a valuation of USD 1660.94 million by 2025, growing at a 9.39% CAGR over the review period.
The Advanced Baby Monitors Market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas accounted for 48% market share in 2017, followed by Europe, APAC, and MEA. It is touted to dominate the market over the forecast period owing to rapid changes in technology and the high adoption rate of niche baby products. It can experience a CAGR of 9.42% owing to the presence of prominent players such as Summer Infant, Angel Care Monitors, and Safety 1st.
The Europe advanced baby monitors market is forecasted to reach USD 603.38 million by 2025, exhibiting a 9.31% CAGR over the review period. Rise noticed in employed mothers coupled with the increased spending power of consumers makes the region extremely lucrative. The growing ecommerce sector has made it easy for mothers to choose the best monitors for safeguarding the safety of their children.
The APAC region is touted to grow at a rapid CAGR of 9.54% during the forecast period owing to the presence of economies such as Japan, China, and India. The rise in expendable income levels of consumers, upward trajectory in literacy rates, and the growing women workforce are factors likely to drive the advanced baby monitors market regionally. The MEA region is expected to experience a sluggish growth rate owing to the slow penetration of the ecommerce sector and limited spending power of its consumers.
Advances in technologies have led to the culmination of wireless baby monitors. Researchers are currently expending their time on developing monitors for deaf children. This is evident by the slew of products launched by Philips and Sonic Alert. For instance, the DECT baby monitor by Philips has graphic and sound-enable indicators to help parents in monitoring the movements of their children. Furthermore, additional research to expedite the development of these devices for parents with disabled children can be a lucrative opportunity for the advanced baby monitors market.
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