Baby Monitor Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027)
As per the research report, Global Baby Monitor Market is expected to reach the market valuation of US$ 1,970 million by 2027 expanding at a reasonable CAGR of 6.2% during the forecast period (2021-2027) from US$ 1,256 million in 2019. Promulgating awareness about child safety and emerging incidences of infant deaths globally is one of the key factors which is contributing to the growing demand for baby monitors. As per CDC, there are about 3,400 sudden unexpected infant deaths (SUID) in the United States Each year. Two major factors are responsible for the SUID incidences. The factors are Sudden infant death syndrome (37.0%), Accidental suffocation, and strangulation in bed (28.3%). The incidence of suffocation and strangulation in bed increased from 15.8 deaths per 1,00,000 births in 2015 to 25.5 deaths per 1,00,000 births in 2019. Also, a surge in the e-commerce sector adding pace to the growing market. According to UNCTAD, the e-commerce sector saw a “dramatic” rise in its share of all retail sales, from 16% in 2019 to 19% in 2020.
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Moreover, the Proliferating number of working parents coupled with a rise in nuclear families globally is a leading cause that is adding pace to the growth in the demand for baby monitors. As per the Bureau of Labor Statistics, Among married-couple families with children, 95.3% had at least one employed parent in 2020, and 59.8% had both parents employed. Furthermore, a surge in the end user's disposable income is a factor that is contributing to the growing market of baby monitors, globally. As per OCED, the household spending in Canada, China, Denmark, European Union, France and Germany reached to US$ 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 million respectively.
Also, the COVID-19 pandemic has pushed the demand for baby monitors globally. Hospitals, other healthcare facilities, and home healthcare facilities are using baby monitors for remote monitoring of patients as baby Monitors are helping patients to connect with doctors and family members through the COVID-19 situation. Philips has donated 3,200 baby monitors in collaboration with the online shopping site, bol.com. These are being sent to hospitals where they’re used to communicate with COVID-19 patients
For a detailed analysis of the market drivers in Baby Monitor Market browse through - https://univdatos.com/report/baby-monitor-market-current-analysis-and-forecast-2021-2027
Samsung Electronics, Dorel Industries Inc., Summer Infant Inc, Koninklijke Philips N.V., Lenovo Group Limited (Motorola), VTech Communications, Inc., Arlo Technologies Inc., Panasonic Corp, Sony Corporation, Snuza International, etc., are some of the prominent players operating in the global Baby Monitor market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Video segment holds the major share”
Based on the product type, the market is fragmented into Audio and Video. The Video segment dominated the market with a share of 86.4% in 2020 and is expected to maintain its dominance during the forecast period owing to the innovation in the video baby monitors by the companies. For instance: Infant Optics, a leader in the development and manufacturing of high-quality baby monitors, has launched its latest product addition, the new DXR-8 PRO video baby monitor in 2020.
For a detailed analysis of the Product Type in Baby Monitor Market browse through - https://univdatos.com/report/baby-monitor-market-current-analysis-and-forecast-2021-2027
“Amongst Connectivity Type, Wireless segment dominated the market during the forecast period”
Based on connectivity type, the market is mainly fragmented into Wired and Wireless. In 2020, the Wireless segment accounted for a maximum market revenue share of 62.4% and is expected to remain dominant during the analyzed period.
“Amongst Distribution Type, Retail Stores segment dominated the market during the forecast period”
Based on Distribution Type, the market is mainly fragmented into Retail stores, Supermarkets/Hypermarkets, E-Commerce, and Specialty Stores. In 2020, the Retail store grabbed the major market share and dominated the market. The segment gathered a 36.7% revenue share.
“North America represents one of the largest markets of Baby Monitor market”
For a better understanding of the market dynamics of the Baby Monitor market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South-Korea, and Rest of APAC), Rest of World. North America dominated the market and generated revenue of US$ 476.9 million in 2020 owing to the rising per capita income. As per the World Bank, GDP per capita income in the United States increased from US$ 56,839.38 in 2015 to US$ 65,297.51 in 2019.
Baby Monitor Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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