The smart baby monitor market is evaluated at US$930.800 million for the year 2019 and is projected to grow at a CAGR of 7.92% to reach the market size of US$1,586.974 million by the year 2026. Smart Baby Monitor is a technique that records videos in 3D, capturing an object or a three-dimensional space such as location in real-time. The acquired data using such Smart Baby Monitor is a device that allows parents to keep track of their children's activities remotely through Wi-Fi or Bluetooth-enabled smart devices. Recent technological advancements have made it possible to track an infant’s movements through an application; also it enables users to use it as a camera device.
The rising number of nuclear families and working parents is a major driving factor in the smart baby monitor market. These product solutions facilitate real-time communication between the parents and children when they are away at work. Additionally, the growing penetration of smartphones is further thrusting demand in the market as it allows parents to communicate with their children remotely through smart devices. Moreover, changing lifestyle patterns and rising disposable income are further augmenting the demand for smart baby monitor products.
Further, the shifting trends towards commercialization and online retailing are expected to propel growth in the smart baby monitor market. Product innovation through the utilization of new technologies and IoT is further projected to fuel growth in the market. Novel technological features such as portability, efficiency in connectivity, and WLAN connection are features driving the demand growth in the smart baby monitor market. However, the declining birth rate due to changing lifestyles associated with economic and social affluence is expected to hamper growth in the smart baby monitor market. Moreover, safety concerns associated with the smart baby monitor solutions can be a challenge to the manufacturers of the smart baby monitor industry.
The outbreak of the novel coronavirus disease severely impacted the Smart Baby Monitor market. Several containment measures were undertaken by governments that negatively impacted the electronics sector globally. Moreover, the Covid-19 squeezed household finances, thus impacting the spending power of the consumers globally. The pandemic led to supply chain disruptions and economic challenges that severely impacted the smart baby monitor device market, especially impacting the production of smart baby monitor hardware components. These disruptions have impacted the revenue streams of the players operating in the Smart Baby Monitor market.
The Smart Baby Monitor market has been segmented based on product type, connectivity, application, and geography. Geographically, the analyzers market is segmented into North American, European, Asian Pacific, South American, and the Middle East and African region.
Video-based Smart Baby monitor segment to show promising growth.
By material type, the Smart Baby Monitor market has been classified into Video, Audio, Tracking devices. The Video-based segment is anticipated to propel at a noteworthy CAGR until the end of the forecast period. Video cameras allow parents to keep a check on their child's status through live videos, smartphones, and sensors, allowing them to monitor their children more efficiently and securely when away from home. Furthermore, video monitoring devices assist in checking the baby’s feeding schedule, nap time, and baby’s activity through integrated automatic mobile notifications, audio communication systems, and temperature sensors. Whereas, technological advancements such as cry detection, audio storage, and monitoring technologies are further augmenting the demand in the audio segment.
Wireless-based Smart Baby monitor segment to show promising growth.
Moreover, by connectivity, the market has been segmented by wired and wireless. The wireless segment holds a dominant market share in the smart baby monitor market owing to the growing number of smart wireless devices, availability of high-speed connectivity, and growing wireless market. Moreover, enhanced mobility features offered by the smart wireless baby monitor solutions as compared to the wired ones are further expected to drive demand growth in the market. However, piracy concerns and high costs may hinder the growth of wired smart baby monitor products.
Commercial Segment to hold a significant market share
By application, the classification of the market has been done as Home/Family and commercial. The commercial segment is further segmented into daycare and hospitals. The commercial segment is projected to hold a significant share in the market until the end of the forecast period. Rising corporate and private daycare centers are estimated to drive growth in the smart baby monitor market. Increasing women's employment in organizations is forcing parents to put their babies in private daycare centers. Similarly, initiatives are been taken by corporates to establish in-house daycare centers to facilitate ease and convenience to the working parents. Therefore, such initiatives by organizations bolstering growth in the smart baby monitor market.
Asia Pacific region to witness lucrative growth opportunities
Geographically, the distribution of the global market has been done in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The North American region is expected to hold a significant share in the market over the forecasted period owing to the adoption and application of novel technologies. Moreover, the presence of several major market players in the region is expected to further propel the demand in the market. Besides, a positive outlook towards working parents is another driving factor for the market in the region. However, the APAC region is expected to witness rapid growth owing to the rising population and increasing purchasing power in the region. Moreover, the increasing adoption of novel technologies among working millennial parents is further augmenting the demand for smart baby monitor solutions in the region.
Participation by market players
The market players are actively participating in form of increased investments in R&D and are taking collaborative efforts for launching new products to expand their market share and meet the growing end-use requirements. For instance, Recently at CES 2020, P&G through its subsidiary brand Pampers unveiled Lumi, an all-in-one connected care system targeting the millennial parent's customer segment. Similarly, Angelcare launched a new smart baby monitor product solution, the Angelcare baby breathing monitor. The product aims to provide reliable and real-time feedback on children's sleep status. Besides, the product comes with a camera, monitor, and an innovative breathing sensor pad.
|Market size value in 2019||US$930.800 million|
|Market size value in 2026||US$1,586.974 million|
|Growth Rate||CAGR of 7.92% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Connectivity, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Lorex Tecnology, Samsung Electronics Co., Ltd., Dorel Industries Inc., Motorola, Inc., Netgear, Inc., iBaby Labs, Inc., VTech Holdings, Pampers, Koninklijke Philips N.V, Angelcare Monitors Inc|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global smart baby monitor market?
A2. Smart Baby Monitor Market was valued at US$930.800 million in 2019.
Q2. What are the growth prospects for the smart baby monitor market?
A2. The global smart baby monitor market is projected to grow at a CAGR of 7.92% during the forecast period.
Q3. What factors are anticipated to drive the smart baby monitor market growth?
A3. The rising number of nuclear families and working parents is a major driving factor in the smart baby monitor market.
Q4. What will be the smart baby monitor market size by 2026?
A4. The smart baby monitor market is projected to reach a market size of US$1,586.974 million in 2026.
Q5. Which region holds the maximum market share of the smart baby monitor market?
A5. The North American region is expected to hold a significant share in the smart baby monitor market owing to the adoption and application of novel technologies.
Samsung Electronics Co., Ltd.
Dorel Industries Inc.
iBaby Labs, Inc.
Koninklijke Philips N.V
Angelcare Monitors Inc
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