According to a newmarket report published by Industry Probe titled ‘Smart Baby Monitor Device Market (ProductType: Video Monitor, Audio Monitor, and Others; Connectivity: Wired and Wireless; End User: Individual and Commercial; Distribution Channel: Online [CompanyOwned Website and E- Commerce Website] and Offline [Hypermarkets &Supermarkets, Specialty Stores, and Brand Stores]) – Global Industry Dynamics,Trends, and Forecast, 2019–2027’, the global Smart Baby Monitor Device Market is expected to reach US$ 2,146.9 Mn by 2027 and expand at a CAGR of 6.5 % from 2019 to 2027.
Smart Baby Monitor Device Market includes Summer Infant Inc., Koninklijke Philips N.V, Dorel Industries Inc., Snuza International, Angelcare Monitors Inc.,Hisense, Motorola Solutions, Inc., iBaby Labs, Inc., Lorex Technology Inc. andVTech Holdings Limited
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In terms of end user, the individual segment wasvalued at US$ 653.5 Mn in 2018 and is expected to expand at a CAGR of 6.8 % from 2019 to 2027. Parentpopulation demanding child surveillance from workplace across the region andincrease in the number of working parents are factors that are likely to drivethe global Smart Baby Monitor Device Market during the forecast period. Rise inthe number of working parents, single parents, and nuclear families is likelyto propel the growth of the global Smart Baby Monitor Device Market.
Demand for baby monitoring devices can beattributed to changing lifestyle, rise in awareness among parents regarding childcare,increase in disposable income, and efficient retailing. China, Japan, and Indiarank among the key emerging markets for baby monitoring devices. Securityconcerns over information leakage through baby monitoring devices is expectedto hamper the market during the forecast period. In addition, high cost of babymonitoring devices is projected to affect the growth of the Smart Baby MonitorDevice Market during the forecast period.
Rise in the number of parent population demandingchild surveillance from workplace and growth in the number of working parentsare likely to drive the global Smart Baby Monitor Device Market. Based ondistribution channel, offline is expected to be the most attractive segmentduring the forecast period due to preference for offline shopping. However, theonline segment is anticipated to expand at a significant rate during theforecast period. North America holds a major share of the global Smart BabyMonitor Device Market, followed by Europe. The Smart Baby Monitor Device Marketis dominated by several players who are focused on the development of newproducts to cater to the rising demand for the product in the global market.
In terms of end user, the commercial segment isexpected to grow at steady rate during the forecast period. Rise in the numberof day care centers across the world is expected to fuel the growth of the commercialsegment during the period of time. The global Smart Baby Monitor Device Market isdominated by several players who are focused on the development of new productsto cater to the rising demand.
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