Baby Monitor Market

Global Baby Monitor Market

Baby Monitor Market- By Product Type, Distribution Channel, Connectivity, and Region.

Market Synopsis:

The Global Baby Monitor Market is valued at USD 1,352.9 Million in the year 2021 and is anticipated to reach a value of USD 1,833.8 Million by the year 2028. The Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 5.2% over the forecast period.

A Baby Monitor is an electronic gadget that parents use to efficiently and continuously watch their newborns' movements and sounds. The device functions as an alert system, detecting baby activities and communicating signals about the baby's condition to the worried guardian via a Wi-Fi or wired networking platform. In the present era, when parents are preoccupied with their careers, a baby monitoring system can be a vital alternative for correctly handling babies instead of hiring a nanny or keeping them in an infant daycare facility.

As a consequence of the progress of the worldwide electronics industry and the advent of digitalization, the Global Baby Monitor Market is quickly developing. Furthermore, the rise in numerous working families, as well as the increase in the number of working women, are two major factors driving the market for baby monitors. Consumer demand for wireless monitors has increased, owing to their ease of connection and simple design as compared to traditional cable cameras. Moreover, an increase in disposable income, an improvement in living standards, an increase in infant care cost, and widespread advertising of video surveillance to its benefits, such as real-time interaction with children, all contribute to the growth of video Baby Monitor goods. Further, an increase in the demand for monitoring in baby's nurseries, as well as an increase in the working population, drive market expansion.

Furthermore, the Baby Monitor Market demand is predicted to expand due to the introduction of new technologies such as smart monitors and temperature sensors the monitors. Customers want innovative technology and easy-to-use interactive features in their monitors, which is projected to boost the growth of the Baby Monitor Market.

Market Segmentation:

The Baby Monitor Market is segmented on the basis of Product Type, Connectivity, and Distribution Channel. On the basis of Product Type, the market is segmented into Audio and Video. On the basis of Connectivity, the market is categorized into Wired and Wireless. On the basis of Distribution Channel, the market is categorised into Retail Stores, Supermarkets/Hypermarkets, E-Commerce, and Specialty Stores.

Based on Product Type:

On the basis of Product Type, the market is segmented into Audio and Video. During the forecast period, the video Baby Monitor sub-segment is estimated to hold the highest share of the global market. Video baby monitors are essential for capturing round-the-clock data on the newborn and alerting parents when indicators of distress, such as vomiting and crying, are detected. As a result, demand for video baby monitors has mostly surged among millennial parents, supporting market development. Furthermore, rising disposable incomes and greater financial stability in developing countries such as China, India, and Brazil may increase the demand for infant monitoring systems in these countries.

Based on Connectivity:

On the basis of Connectivity, the market is categorized into Wired and Wireless. The wireless sub-segment of the Global Baby Monitor Market is expected to develop the fastest. Wireless (Wi-Fi) baby monitors link to current internet networks and can be managed by any smart device, such as smartphones, laptops, and desktop computers. These baby monitors are equipped with both video and audio capabilities. Furthermore, crucial features such as voice assistants, real-time footage of the infant, and the option to record video footage through the mobile app or cloud storage may drive demand for wireless monitors in the coming years. Furthermore, top suppliers such as Motorola (Binatone), Cocoon Cam, and others are offering significant savings on Wi-Fi baby monitors with 1080p and night vision cameras. In the future, such factors are projected to boost the wireless Baby Monitor sub-segment.

North America is expected to have the biggest market share in 2021

North America is projected to acquire the largest market share during the year 2021 with a share of 42.1%. North America now dominates the global baby monitors market and is anticipated to do so in the near future. This increase is mostly due to the increasing tendency of nuclear families, people's increased spending ability, and a growing knowledge of the benefits provided by these devices. The advancement of these technologies, as well as increased personal equity investment, are also contributed to the rise, particularly in the electronics sector in developed nations such as the United States and Canada. Furthermore, the region is expected to see an increase in parental knowledge of childcare and robust commerce. As a result, heightened parental knowledge of their child's growth and development is propelling the industry to new heights.