Baby Monitors Market Overview
Baby monitors are used to remotely monitor the movements of the baby, usually when the infant is far away or out of sight of the parent. Baby monitors simply the process of tracking the baby’s movement. With a rise in the shift towards the adoption of nuclear family system, this device comes in handy for single and working parents. This, in turn, is contributing to the ascension of the global advanced baby monitors market over the forecast period.
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According to Market Research Future (MRFR) in their latest report, the global advanced baby monitors market is expected to upscale at a 9.2% CAGR through the forecast period of 2018-2025. Different factors contributing to this ascension include the introduction of advanced baby monitors, rapid urbanization, a mounting number of nuclear families, and elevating levels of disposable income. These advanced baby monitors now include video monitoring as well as the provision of healthcare-related support such as heartrate monitoring and body temperature monitoring. Because of these extensive features on advanced baby monitors, the market is witnessing fast-paced adoption of the product in urban areas. Furthermore, easier connectivity and portability of them are promoting higher usage and shift towards advanced baby monitors, driving the global market.
Market Segmentation
The global advanced baby monitors market is studied by Market Research Future (MRFR) for different types of products and the end-users of these advanced baby monitors. Different types of baby monitors included in the extensive study are stationary baby monitors and wearable baby monitors. At the beginning of the forecast period, the stationary baby monitors held 80% of the share in the global advanced baby monitors market. The demand and adoption of stationary baby monitors are anticipated to register a 9.09% CAGR and cross the revenue valuation of USD 1491.85 million by the end of 2025. On the other hand, the wearable baby monitors are also exhibiting a high level of demand, witnessing a 9.61% CAGR through the forecast period.
Advanced baby monitors are highly used for home care and daycare. In the base year, around 87% of total baby monitors were used for home care and are anticipated to scale valuation of USD 1660.94 million by the end of the assessment period. The adoption of baby monitors for home care is likely to upscale at 9.39% by 2025.
Detailed Regional Analysis
The global advanced baby monitors market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas are expected to yield the highest percentage of total revenue in the global advanced baby monitors market over the forecast period. The region also dominated the market at the beginning of the forecast period, accounting for 48% of the total share. Also, the presence of various market giants in the region is likely to push exponential growth to the regional market, upscaling it at 9.42% CAGR by 2025.
Europe is expected to reach a market valuation of USD 603.38 million by the end of the review period, with a 9.31% CAGR through the forecast period. Fast-Paced growth in the e-commerce industry of the region is likely to drive the regional market for advanced baby monitors.
Asia Pacific is projected to showcase the most accelerated growth rate during the assessment period and is likely to exhibit a 9.54% CAGR by 2025. Attributable factors include the fast-paced economic growth in India and China and a rising disposable income, along with proliferated growth in the literacy rate.
Key Players
The global advanced baby monitors market is highly influenced by the strategies undertaken by various market vendors. These market vendors include Angelcare (Canada), The First Years, Inc. (U.S.), Mayborn Group (U.K.), Samsung Electronics Co. Ltd. (South Korea), Lorex Technology Inc. (Canada), Summer Infant, Inc. (U.S.), MonDevices (U.S.), Snuza International (South Africa), Owlet Baby Care (U.S.), MOTOROLA HOME (U.S.), Graco Children’s Products, Inc. (U.S.), Safety 1st (U.S.), and Koninklijke Philips N.V. (Netherlands).
Industry Update
February 2019: BT recently announced the launch of Smart Baby Monitor, which is the UK’s first voice-controlled smart baby monitor, which can be controlled using Alexa and Google Assistant.
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