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Global Baby Monitor Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2025

01-20-2020 12:02 PM CET | IT, New Media & Software

Press release from: Digitsnmarkets

Baby Monitor Market

Baby Monitor Market

The growing number of dual-earning families is the major driver of the global smart baby monitor market. Rising disposable income, surge in the number of nuclear families, and changing lifestyle patterns are further contributing to the growing demand for smart baby monitors solutions. Furthermore, growth in online retailing and increasing commercialization of these devices will bolster the growth of the global smart baby monitor market in the coming years. However, falling birth rate coupled with rising baby’s safety concerns due to the usage of these devices will restrain the market growth during the forecast period.

Necessitated increasing demand for child care across the globe. Governments are initiating child safety measures. Child Care and Development Block Grant was reauthorized to provide additional safety and protection for babies. Gradual improvement has been observed with respect to the enhancement of child care standards. This has given enough fuel to develop advanced child safety devices such as baby monitors that ensure the safety of babies and offer reassurance to parents.

The Global Baby Monitor Market was valued at $897 Million in 2018 and is projected to reach $1.72 billion by 2024, having a CAGR of 8.6% during the forecast period of 2018 to 2024.

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On the basis of product type, the baby monitors the market for products varies such as audio baby monitors, fixed video baby monitors, and pan and tilt baby monitors. Accounting for over 45% of the global baby monitors market, the segment of fixed video baby monitor dominated the market in terms of revenue in 2015. The trend is expected to continue over the next few years as well. Advanced features of fixed video baby monitors, such as the possibility of real-time sound and video transmission, temperature sensing, talk-back, and heart rate monitoring will aid the future development of the segment over the forecast period.

The market for pan and tilt baby monitors is expected to exhibit steady growth owing to their rising popularity among users; these baby monitors offer advantages such as easy rotation of the camera to get a perfect view of the baby’s play area and instant temperature alerts among others. The segment will exhibit a 5.5% CAGR over the period between 2018 through 2025. The segment of audio baby monitors, on the other hand, is expected to exhibit a -0.9% CAGR over the said period. The decline in demand for such baby monitors will stem from their limited set of features. Nevertheless, their economic nature will lead to a steady demand from cost-sensitive buyers.

Globally, North America is the largest regional market for baby monitors in terms of revenue, holding over 52.0% in 2018 and this trend is expected to continue over the forecast period as well; however Asia Pacific is the fastest-growing baby monitors market. High per-capita spending capacity of consumers, growing awareness related to baby safety and security, and a rise in the number of nuclear families are cumulatively driving the market for baby monitors in North America. 

With increasing preference for baby monitors, manufacturers such as Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Platinum Angelcare, Sony Corporation, and VTech have been striving to innovate their products to make them more connected and safe.

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About Digits N Markets:
Digits N Markets has a vast repository of latest market research on trending topics, niche company profiles, market size and other relevant data released by renowned publishers. We have access to the database related to niche markets and trending topics in various industries. We also update the data regularly to provide recent statistics to the client. Recent data and reports will be featured on our websites and clients will be able to access the same. Our clients will be able to benefit from qualitative & quantitative insights in the report which will support them in taking concrete business decisions.

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