"Overview of Smart Baby Monitor market"
The Smart Baby Monitor market is forecasted to reach at US$ 1.5 Bn by 2027, growing at a CAGR of 6.8 % between 2019-2027.
The global Smart Baby Monitor market has shown remarkable growth since last few years. The market is anticipated to show a robust growth over the period of research study. Some of the factors fuelling the growth of global market include increasing number of birth rate, growing number of nuclear family, and benefits of smart baby monitors.
Significant Birth Rate and Advantages Associated with These Products are Anticipated to Propel the Market Growth
Smart Baby monitoring allow parents to monitor and track activities of babies. The rising number of working female population across the globe is anticipated to boosts the sales graph for these products in coming years. Moreover, the significant birth rate in different countries such as Spain, Sweden, Czech Republic, India, Malaysia, and United Kingdom. The fertility rate in India and Sri Lanka is almost 2.2 to 2.5 kids per woman. According to CDC, in U.S., the birth rate increased from 2% between 2017 to 2018. Moreover, these devices offer assurity of child’s safety to parents by providing high quality audio and video check capabilities, compatible with wi-fi, extended monitor range, and remote access which is making it popular among working female population.
Based on Product, the audio and video Segment Accounted for Maximum Share in 2018
On the basis of product, audio and video segment is anticipated to lead the global market throughout the forecast period. These products help in minimizing anxiety and stress level of parents occurred due to separation from their children. As these products provide the facility to access live videos and checking the baby’s activities while the parents are not at home. Moreover, the audio and video products are associated with advanced features such as automatic mobile notification, two-way audio, and temperature sensors which is making it more preferable and driving the segment growth. Some of the manufacturers including iBaby Labs, Inc. and Motorola, Inc. introduced products integrated with lullabies to mollify children to sleep which is expected to poise a positive impact on the segment growth.
The tracking devices are expected to witness robust growth during the forecast period. These products offer the facility to track baby’s temperature, room temperature, sleeping pattern, movement, oxygen level, and heart rate which make parents aware of child’s health. Also, the tracking monitors send alert to parents if any problem occurs. These all features encourage the parents to opt for these products.
Offline Segment is Estimated to Dominate the Global Market Whereas the Online Segment is Expected to Witness Rapid Growth Throughout the Forecast Period
Based on distribution channel, the offline channels held the largest market share in 2018. Rising number of supermarkets and hypermarkets is contributing in growth of offline segment. Moreover, the motor and brick stores offer physical verification, easy returns, and personal services by store executives which is making it preferable across the globe.
Furthermore, the online segment is projected to grow rapidly throughout the forecast period. The online channels offer wide range of products with assured quality. Also, by using online channels consumers have the facility to compare several products at once with the helps of product reviews from other buyers which is making it popular among large consumer base.
North America is Occupied Significant Share in 2018
By geography, North America occupied maximum share in 2018. Rising popularity of advanced baby products is majorly fuelling the regional growth. The U.S. is the major contributor for smart baby monitor market in North America. In U.S. online retailing is increasing rapidly which is propelling the country’s growth. Moreover, availability of wide range of these products in online and specialized stores is putting a positive impact on the regional growth.
Furthermore, Asia Pacific is projected to grow rapidly in coming years. Rising female working population in India, China, Indonesia, Thailand, and Japan is expected to support the regional growth. Additionally, rising adoption of advanced technology coupled with increasing purchasing power is creating growth opportunity for Asia Pacific.
Key players operating in global Smart Baby Monitor market include Angelcare Monitor Inc., Samsung Electronics Co., Ltd., Lorex Technology Inc., Motorola, Inc., Vtech, Dorel Industries Inc., Summer Infant, Inc., NETGEAR Inc., and iBaby Labs, Inc.
Global Smart Baby Monitor Market by Product
- Tracking Devices
- Audio & Video
Global Smart Baby Monitor Market by Distribution Channel
Global Smart Baby Monitor Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America