Global Advanced Baby Monitors Estimated to Grow Exponentially at a 10.65% CAGR over the forecast period of 2022-2030
Baby monitors are electronic devices that enable parents to track the movements and activities, along with listening to the sounds of their baby. Advanced baby monitors are often equipped with Wi-Fi connections, can track vital signs and sleeping patterns of the baby, can play lullabies, and have the audio as well as video function.
According to a report published by Market Research Future (MRFR), the market has been assessed to record a substantial valuation, growing at a CAGR of 9.20% over the forecast period of 2022-2030.
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Factors influencing the growth of the global advanced baby monitors market over the forecast period are the rising number of working parents, the safety concern of children due to modern houses, the increasing awareness about advanced baby monitors as well as the rise in disposable income which consequently raises the affordability factor.
The key players identified in the global advanced baby monitor market are Graco Children's Products, Inc. (U.S.), MonDevices (U.S.), MOTOROLA HOME (U.S.), Owlet Baby Care (U.S.), Safety 1st (U.S.), Summer Infant, Inc. (U.S.), The First Years, Inc. (U.S.), Angelcare (Canada), Lorex Technology Inc. (Canada), Mayborn Group (U.K.), Koninklijke Philips N.V. (Netherlands), Samsung Electronics Co. Ltd. (South Korea), and Snuza International (South Africa).
The Global Advanced Baby Monitor Market is segmented on the basis of product type, end-user, and region.
Based on the product, the market has been segmented into stationary type and wearable type. The stationary type segment has been assessed to hold the leading market share and is expected to reach a valuation of USD 1491.85 million by 2025, growing at a 9.09% CAGR. The wearable type segment has been assessed to grow at a higher CAGR of 9.61% and register a substantial market valuation over the forecast period.
Based on the wearable type, the market has been segmented into home care, day care, and others. The home care segment has been assessed to reach a valuation of USD 1660.94 million by 2025, growing at a CAGR of 9.39% through the forecast period.
Based on the region, the market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas are the largest regional market in the global market for advanced baby monitors and have been assessed to continue to dominate the market, growing at a 9.42% CAGR share over the forecast period. The early adoption of baby monitors in the region is an influential factor for the growth of the market in the region along with the increasing number of working parents.
Europe is the second leading market for advanced baby monitors and has been assessed to reach a valuation of USD 603.38 million by 2025 at a 9.31% CAGR, contributing substantially to the global advanced baby monitors market over the forecast period. The stable economy ensures a high disposable income of consumers, along with the technological advancements and product innovation in the global advanced baby monitors market is estimated to contribute substantially to the growth of the market in the region.
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The Asia Pacific region is estimated to be the fastest growing region in the global market for advanced baby monitors and has been assessed to grow at a 9.54% CAGR. The growth of the market in Asia Pacific is estimated owing to the rise in the working class population, increasing disposable income, growing awareness of baby monitors, and lucrative opportunities such as the large population and technological advancements.
May 2019 – On the occasion of Mother’s Day, Panasonic Corporation donated 2500 baby monitors to expecting and new mothers in need.
May 2019 – Cocoon Cam, a telehealth startup, announced their new baby monitors that use artificial intelligence to track vital signs and sleep patterns of toddlers and infants.
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