Baby Monitor Market to Generate a Revenue of US$ 1,233.6 Million By 2031
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/baby-monitor-market
The global baby monitor market is expanding due to the rising awareness about the safety and security of babies in emerging nations. In order to meet the growing demand from customers globally, manufacturers are working to provide cutting-edge baby monitor solutions. Additionally, small and medium-sized businesses that produce goods are establishing themselves on the world market by creating effective, secure, and dependable baby monitors. Growing consumer product awareness, rising disposable income, and quickly developing online & offline distribution channels globally are some of the reasons driving the global market for baby monitors.
The demand for baby monitors is rising along with the number of working professionals who have children. Since these professionals are more likely to utilize baby monitors to keep an eye on their children while they are at work, the market will grow. Additionally, more businesses are spending on R&D to create new, innovative goods that are safer, more secure, and simpler to use, bringing in more customers. For instance, in July 2022, Taiwanese tech startup Cubo Ai introduced an AI Sleep Sensor Pad to improve the safety and peace of mind of new parents in addition to its Cubo Ai Plus Smart Baby Monitor. This product's capacity to recognize a baby's breathing motion sets it apart from others.
Modern millennial parents are adopting smart technology for their infants. Nurseries are becoming networked data centers owing to the contemporary parenting trend. The millennial generation has grown up with more frequent access to data, measurements, and real-time information. Over 25% of the world's population is made up of millennials, and 90% of them reside in developing nations. The need for baby monitors is likely to increase as the majority of millennial parents in China, the US, Germany, and France leave their homes to go to work, further boosting the baby monitor market.
Consumers Majorly Prefer Wireless Baby Monitors
On the worldwide baby monitor market, wireless baby monitors have significantly increased in popularity and are now the most popular model. In 2022, the wireless baby monitor generated sales of about US$ 795.6 million, demonstrating the high demand for these gadgets.
Wireless baby monitors are very popular due to their convenience and adaptability. They enable parents to keep an eye on their children while attending to other tasks by enabling them to monitor their infants from numerous points within their houses.
Several market players are manufacturing wireless baby monitors, including Angelcare, Motorola, Samsung, Summer Infant, and Lorex. In recent years, Lorex has expanded its product portfolio and introduced a number of wireless video baby monitors. The market has recently been driven by the availability of smart connections and wi-fi-based control of monitors, and this trend is anticipated to continue.
Video Baby Monitors are Emerging as a Popular Choice Among Consumers
Video baby monitors have seen a rise in popularity among parents. In 2022, the market attained a revenue of US$ 747.9 million. Video monitors' visual component enables parents to observe their infants in real-time, providing comfort and a thorough monitoring experience.
Advanced video displays with extra features, including two-way audio, night vision, and rotation and zoom capabilities have been introduced recently. Other capabilities on certain models include tracking the baby's breathing and movement, and alerting parents when they leave the baby monitor's coverage area. In nations including the U.S., Canada, the UK, and Germany, increased acceptance of cutting-edge technology is driving the use of video displays.
North America is Attaining Major Sales of US$ 417.9 Million
With projected revenue of $417.9 million in 2022, the North American region will hold the greatest market share for baby monitors. Major market companies, including Motorola, Samsung Electronics, and Summer Infant are present and have made significant inroads in the region, which can be due to the market dominance. In order to meet the various needs of parents in North America, these businesses make use of their well-known brands, wide distribution networks, and technological know-how.
This development is mostly attributable to the trend toward nuclear families, people's rising purchasing power, and a growing understanding of the benefits of these technologies. In 2021, the number of two-person and single-person households in the United States increased from 34.52% in 2018 to 35.03% and 28.45%, respectively, according to the United States Census Bureau.
Additionally, the competition among market players in the region is vigorous, and firms are introducing new goods there owing to the ongoing contributions that businesses and research institutions make to technical breakthroughs. For instance, in July 2022, baby monitor maker Owlet introduced the Owlet Cam 2, which employs machine learning (ML) and artificial intelligence (AI) to determine whether a baby is crying in the nursery. When the Owlet Dream product detects sounds, gestures, or weeping in a child's room, parents are alerted via the Owlet Dream app.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/baby-monitor-market
Companies Landscape
The baby monitors market is very competitive because there are many local, national, and international players. Lenovo Group Limited, VTech Communications Inc., Summer Infant (USA) Inc., Dorel Industries, Inc., and Panasonic Holdings Corporation are the market's top competitors. Product innovations and new product developments are the main techniques used by these firms to bolster their product portfolios and establish a solid name in the market.
Some of the Prominent Companies are:
• Samsung Electronics Co. Ltd.
• LOREX Technology Inc.
• VTech Holdings Ltd.
• Summer Infant Inc.
• Koninklijke Philips N.V.
• Dorel Industries Inc.
• Sony Corporation
• Angelcare Monitors Inc.
• Shen Zhen Foscam Intelligent Technology Co. Ltd
• Nest Lab. Inc.
• Withings Inc.
• Lenovo Group Limited
• Hanwha Group
• Panasonic Corporation
• Anker Technology (UK) Limited
• Owlet Baby Care
• Sense-U
• Snuza
• Lumi by Pampers (PROCTER & GAMBLE)
• Other Prominent Players
Segmentation Outline
The global baby monitor market segmentation focuses on Connectivity, Product Type, Sales Channel, and Region.
By Connectivity
• Wired
• Wireless
By Product Type
• Audio Baby Monitor
• Video Baby Monitor
• Motion Sensor Baby Monitor
By Sales Channel
• Retail Stores
• Supermarket/Hypermarket
• E-commerce
• Specialty Stores
By Region
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
The UK
Germany
France
Italy
Spain
o Rest of Western Europe
• Eastern Europe
Poland
Russia
o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/baby-monitor-market
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