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. 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 market 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.
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 baby monitors market over the forecast period.
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).
Market Segmentation
The advanced baby monitors market is segmented based on product, end user, and region.
- Based on the product, the global advanced baby monitors market can be segmented into stationary type and wearable type. The stationary type segment owns the lion’s share of the market, that is almost 80% market share as of 2017. During the forecast period, the segment can grow with 9.09% CAGR and exceed a valuation of USD 1491.85 million by 2025. Meanwhile, the wearable segment can expect a faster CAGR of 9.61% during the forecast period.
- Based on the end-users, the global advanced baby monitors market can be segmented into home care, day care, and others. 87% of the market is getting steered by the home care segment as of 2017 and is expected to scale valuation of USD 1660.94 million by 2025 with an expected growth of 9.39 % during the forecast period.
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.
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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