Advent of E-commerce to Electrify Global Baby Monitors Market

The global market for baby monitors has been gaining significantly from the increase in nuclear families, coupled with the rising pool of working parents. Adding to the growth is the mushrooming of day care facilities and the escalating disposable income of consumers in emerging economies, such as China and India.

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With the increasing propensity of consumers to spend on baby care products, the global baby monitors market is likely to witness a rise in its opportunity at a CAGR of 4.40% between 2016 and 2024, increasing from US$0.87 bn in 2015 to US$1.29 bn by the end of 2024, states a report by Transparency Market Research (TMR).

In this blog post, researchers at TMR answer important queries about the global baby monitors market:

What are the factors that shape the future of the global baby monitors market?

The advent of e-commerce in the baby care products industry has driven the global market for baby monitors considerably and its effect would remain on this market over a long period of time. Consumers have gained access to a wide range of baby monitors to choose from without actually going out to shops due to the increasing number of online retailers, which is reflecting remarkably on the sales of baby monitors across the world. With the ongoing expansion in the online retail segment, this market is expected to be propelled tremendously over the coming years.

On the other hand, the declining birth rate, triggered by the increasing stress levels and the sedentary lifestyle of people, may limit the growth of the worldwide market for baby monitors in the years to come.

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How are the regional markets going to perform in near future?

North America has surfaced as the leading market for baby monitors across the world. With the high disposable income of consumers, increasing awareness pertaining to safety and security of babies, and the rising number of nuclear families in North America are projected to ensure the regional market’s dominance over the next few years.

Asia Pacific, amongst other regional markets for baby monitors, including Latin America, Europe, and the Middle East and Africa, is expected to witness a high-paced rise in the near future. The changing lifestyle, rise in spending power of consumers, increasing level of awareness regarding child care among new parents, and the availability of efficient retail channel are anticipated to boost the Asia Pacific baby monitor market over the coming years.

What are the most popular strategies among the leading vendors of baby monitors across the world?

Samsung, Angelcare, Summer Infant, Sony, and Koninklijke Philips are some of the leading vendors of baby monitors across the world. These players mostly rely on the technological advancements of products for the expansion of their businesses. They are expected to focus aggressively on research and development to come up with innovative solutions in the future in a bid to strengthen their position in the global baby monitors market.

About TMR

TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.