Baby Monitors Market foreseen size grow exponentially over 2028 COVID-19
A recent market intelligence report that is published by Data Insights Partner on the global Baby Monitors Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Baby Monitors Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Baby Monitors Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Baby Monitors Market is offered. In accordance with the report, the global Baby Monitors Market is projected to expand at a CAGR of 12.69% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
Baby monitors are being used for the purpose of monitoring the baby’s activities when parents are not in the close vicinity of the baby. Baby Monitor can transmit the audio as well as the video. The global baby monitors market is mainly driven by increasing number of working parents, nuclear families, and increased online retailing across different regions. These factors have led to a higher adoption of baby monitors in homes and day care centers. There is strong opportunity for growth of the market in emerging countries of Asia Pacific, Latin America, Africa and the Middle East. However, factors such as the decreasing birth rate because of the increased stress levels, inactive lifestyle, & safety concerns being associated with these products are likely to restrain the growth of the market during the forecast period. North America held the largest share of the baby monitors market in 2018. The baby monitors industry generates a substantial portion of its revenue from this region due to the better technological infrastructure & acceptability of innovative & niche baby care products. In terms of product type, fixed video baby monitor dominated the market in 2018, primarily due to increasing demand for high end baby monitoring devices with smart monitoring features. By connectivity, wireless baby monitors are expected to attain the highest share by 2024, attributed to wide usage of these baby monitors among employed parents in developed economies.
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The global change in lifestyles is leading to the trend of working parents. Parents are concerned about the safety of their baby. Hence the concept of day care is becoming popular across the globe. Day care units take the responsibility of the baby while the parents are out for work. Day care units are equipped with baby monitors in order to help them take care of the baby in the best possible manner. Hence, the growing demand for day care units is driving the market for baby monitors. In addition, growing media coverage about safety and security associated with babies is also aiding the growth of the market. Awareness of sudden infant death syndrome (SIDS), more popularly known as ‘cot death,’ is also creating the need for baby care products such as child safety locks, stair gates, and baby monitoring systems. Moreover, ongoing technological trends are helping in the development of smart and advanced baby monitors which is creating a demand for smart and better looking baby monitors for day care units.
The global rise in online shopping of baby products is driving the market for baby monitors. With the growth in online retailers in recent years, working parents have started buying baby products online. Furthermore, online shopping saves time as parents do not need to go to a mall and search for a product. Parents are able to search through a wide array of products offered by several retailers. Online reviews and feedback of baby monitors also help the parents to choose the best product available. Moreover, the intense competition between online retailers helps the parents to buy baby products at very good deals. With the advent of information technology, baby monitors are becoming smart and can be controlled via applications installed in the parent’s or the guardian’s smart phone. However, a report published by wired.com in 2015 says that baby monitors are being hacked easily. A malware that hit the jailbroken iPhones, stole 225,000 iTunes log in credentials which can be easily used to login to the applications linked with the baby monitors. This hack is enabling breachers to turn the baby monitors into spy cameras. Hence, the hack is making the internet-connected baby monitors vulnerable. This is acting as a restraint for wireless baby monitors.
Baby monitors are expected to be smarter through wearable technology in future. Ongoing technological innovations and the rising of “internet of things” (IoT) is gradually being applied to baby monitors in order to make them smart and responsive. Sprouting, a baby monitor manufacturing company launched is smart baby monitor in 2014. The baby monitor has the ability to track vital parameters such as heart rate and body temperature. In addition, it also monitors if the baby is moving or sleeping in a dangerous face down position. Furthermore, the device can also alter the room temperature to suit the baby based on his or her sleeping patterns. Such abilities are expected to be introduced by other manufacturers in order to offer added functionality to parents for their baby’s wellbeing. Thus, various technological advancements are likely to increase the pace and potential of the baby monitors sector, and act as a growth catalyst in the future.
Segment Covered:
This market intelligence report on the global Baby Monitor Market encompasses market segments based on product type, connectivity type and country.
In terms of product type, the Baby Monitor Market is segregated into:
Audio Baby Monitor
Fixed Video Baby Monitor
Pan & Tilt Baby Monitor
By connectivity type, the global Baby Monitor Market is also classified into:
Wired Baby Monitor
Wireless Baby Monitor
By country/region, the global Baby Monitor Market has been divided into:
North America (the U.S., Canada),
Latin America (Brazil, Mexico, Argentina and other countries),
Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
Middle East and Africa (GCC, South Africa, Israel and Other countries).
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
Samsung Electronics Co. Ltd.
Dorel Industries Inc.
Koninklijke Philips
Motorola
Lorex Technology Inc.
Angelcare Monitors Inc.
Sony Corporation
Windeln.De Ag
summer infant inc
Hisense Ltd.
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Baby Monitor related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Baby Monitor Market, size of the market (US$ Mn and Units), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2019 – 2027, taking into account 2018 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Baby Monitor Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Samsung, Motorola, Sony among others
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Baby Monitor caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Baby Monitor Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Baby Monitor Market
v Identification of key factors driving investment opportunities in the Baby Monitor Market Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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