The smart baby monitor market is expected to grow from US$ 989.38 in 2020 to US$ 1,815.31 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.
Increasing number of working parents worldwide is boosting the growth of the smart baby monitor market globally.The growing number of nuclear families and working parents worldwide is boosting the adoption of smart baby monitoring devices.
The working parents are robustly looking for nannies or daycare centers to take care of their children when they are not home.The increasing concerns associated with child safety are also encouraging them to purchase smart baby monitoring devices.
The number of working mothers is also on the rise in developed as well as developing countries such as the US, China, India, and Canada.The smart baby monitoring products help parents to carry out their activities efficiently without being stressed about their babies’ activities and safety.
These systems facilitate the real-time communication between parents and their children through smartphones. Thus, the increasing penetration of smartphones, used to install apps to monitor their babies, also supports the growth of the market.
Based on type, the video monitor device segment led the smart baby monitor market in 2019.Video monitoring devices include cameras, sensors, and smartphones.
Video monitoring devices include cameras, sensors, and smartphones.Video cameras provide parents with an access to their children’s status through live videos, allowing them to monitor their children efficiently and securely when they are away from home.
The video monitoring devices check the baby’s activity, feeding schedule, and nap time.Several video monitoring devices for smart baby monitoring are integrated with automatic mobile notifications, two-way audio communication, and temperature sensors.
Key manufacturers of video-enabled smart baby monitors are Cubo AI; iBaby Labs, Inc.; and Motorola, Inc. Depending on the sales channel, the market is segmented into online and offline.Similarly, based on application, the market is segmented into home/family, hospitals, and day care.
In 2019, APAC was the fastest growing market.Continuous rise in population and increase in income levels of the middle- and upper-class populations are the significant factors contributing to the baby monitor market growth in APAC.
Increasing number of working women, mainly in the developing countries in the region, and mounting potential of smart baby monitor manufacturers, indulged in offering a wide variety of products to meet the increasing consumer demands, also support the market growth in this region.Use of baby monitors allows working parents to keep a track of their babies and caretakers.
The increasing number of nuclear families, working parents, and single parents across the region are among the prime conditions compelling manufacturers to develop advanced baby monitoring systems to address parents’ concerns regarding baby care and safety during their absence. The COVID-19 outbreak is adversely affecting economies and industries in various countries owing to lockdowns, travel bans, and business shutdowns.The COVID-19 containment measures undertaken by the governments in this region have negatively affected the electronics sector.
China is the leading manufacturing country in this region and is among the worst-hit country along with India which has ultimately impacted the production of electronics equipment.Moreover, due the interruption in supply chain and logistics the procurement rate of various electronics equipment including hardware components of smart baby monitors has been quite affected.
India, South Korea, Japan, and Vietnam have witnessed a sharp decline in new projects. Hence, ongoing disruptions in supply of raw materials & components and increasing demand from China & other Asian countries are expected to impact the growth of the smart baby monitor market in coming quarters.
The overall smart baby monitor market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the smart baby monitor market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the smart baby monitor market. Vtech, Motorola Mobility LLC, Summer Infant, Angelcare, PAMPERS?P&G), Owlet Baby Care, Nanit, Babysense?Hisense), Philips, Dorel Industries, IBaby, Lorex, Samsung, Withings, Snuza, and Infant Optics are among the key players operating in the market.
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