The new report by Expert Market Research titled, ‘Global Baby Monitor Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global baby monitor market, assessing the market based on its segments like product type, mode of communication, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 10.3%
The rising marketplace for baby monitors are often attributed to the growing numbers of working parents and nuclear families across the planet. A baby monitor equipped with audio and video allows parents to stay a real-time check on their babies within the presence of nannies or at day-care centres to watch child’s safety.
Moreover, with the outbreak of the pandemic in 2020, healthcare professionals are increasingly deploying baby monitors to remotely monitor infants while limiting exposure. Additionally , as installing a baby monitor can help parents have quality sleep without fear about the baby, the demand for baby monitors is further being propelled forward. The remote access provided by the merchandise through wireless connectivity enables parents to remotely keep an eye fixed on their child, while simultaneously doing other chores. This factor is additionally catalysing the adoption of the merchandise and propelling the market growth.
Baby Monitor Industry Definition and Major Segments
Baby monitors are electronic devices that allow parents to watch their child’s safety remotely. The monitoring devices are usually fitted with microphone transmitters that send audio signals with the assistance of radio waves, enabling a two-way communication. a number of them also can be integrated with video and motion sensor technologies.
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Based on product type, the market can be broadly divided into:
- Motion Sensor
Based on mode of communication, the market can be broadly divided into:
On the Basis of region, the market can be divided into:
- North America
- The Asia Pacific
- Latin America
- Middle East and Africa
Baby Monitor Market Trends
The rising technological advancements due to the event of the worldwide electronic industry are aiding the market growth of baby monitors. The rising introduction of baby monitors equipped with features like temperature monitoring, sleep tracking, and real-time notifications are adding to the industry growth. The rising adoption of wireless video monitors that allow parents to remotely view their child’s activities are anticipated to drive the industry growth. Further, the rising demand for video monitors equipped with two-way audio features and night cameras, among other features, is expected to drive industry growth. Additionally , industry leaders are constantly trying to enhance the technology with innovations in AI (AI) that allow the recording of infants’ faces, sounds, and movements, along side saving them from injury, hence, propelling the market growth.
Key Market Players
The major players in the market are Levana, Samsung electronics Co., Ltd, Hanwha Group, Panasonic Corporation, Koninklijke Philips N.V. and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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