Increase in Number of Nuclear Families and Working Parents Expected To Drive Global Baby Monitor Market: Ken Research
Based on product type, baby monitor market can be bifurcated as video and audio. Video monitors play a crucial role in the collection of complex data in the newborns, if they recognize signs of fear, as vomiting and crying. The demand for monitors of video devices is expected to increase predominantly from the Millenary parents, which feeds the market growth. The audio monitor segment includes a transmitter component equipped with a microphone and transmitting the sounds to recipient component directed by parent or the caregiver with the help of radio waves. Based on the connectivity, the market can be averted as wiring & wireless. The Baby Monitor "WiFi” are connected to existing internet networks and can be controlled by any smart device that contains mobile, laptops and desktops. These baby monitors further contain video and audio numbers. Additionally, based on distribution channel, market can be bifurcated as supermarket/hypermarket, retail stores, specialty stores and e-commerce.
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The baby monitor market is driven by increase in awareness about baby safety, followed by rise in the number of newborns, increase in number of employed parents and surge in online retailing. Apart from this, increase in safety concerns and decline in birth rates are major hindering factors for market. Moreover, increase in Artificial Intelligence (AI) driven baby monitor controlling platforms and growth in demand from emerging countries are leading opportunities for market.
Based on regional analysis, the North-America and Europe regions hold major share in global baby monitor market owing to rise in awareness of the benefits of baby monitors, increase in personal equity investment specifically in the electronics sector in developed markets and higher spending capacity of consumers across the region. The Asia-Pacific region is estimated to exhibit substantial growth rate due to increase in consumer buying power and rapid adoption of technology among working parents over the forecast period. It is anticipated that future of the global baby monitor market will be bright as a result of large number of nuclear families and single parents during the forecast period.
Ankur Gupta, Head Marketing & Communications
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