Canada markets closed
  • S&P/TSX

    19,474.65
    +107.96 (+0.56%)
     
  • S&P 500

    4,163.29
    -10.56 (-0.25%)
     
  • DOW

    34,327.79
    -54.34 (-0.16%)
     
  • CAD/USD

    0.8306
    +0.0017 (+0.20%)
     
  • CRUDE OIL

    66.49
    +0.22 (+0.33%)
     
  • BTC-CAD

    53,913.35
    -187.49 (-0.35%)
     
  • CMC Crypto 200

    1,231.68
    +33.76 (+2.82%)
     
  • GOLD FUTURES

    1,872.30
    +4.70 (+0.25%)
     
  • RUSSELL 2000

    2,227.12
    +2.49 (+0.11%)
     
  • 10-Yr Bond

    1.6400
    +0.0050 (+0.31%)
     
  • NASDAQ futures

    13,356.50
    +53.00 (+0.40%)
     
  • VOLATILITY

    19.72
    +0.91 (+4.84%)
     
  • FTSE

    7,032.85
    -10.76 (-0.15%)
     
  • NIKKEI 225

    28,439.24
    +614.41 (+2.21%)
     
  • CAD/EUR

    0.6825
    +0.0010 (+0.15%)
     

Global Smart Baby Monitor Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

·5 min read

The "Smart Baby Monitor Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Video Monitor Device and Audio Monitor Device), Sales Channel (Online and Offline), and Application (Home/Family, Hospitals, and Day Care), Geography" report has been added to ResearchAndMarkets.com's offering.

The smart baby monitor market is expected to grow from US$ 989.38 million in 2020 to US$ 1,815.31 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.

Increasing number of working parents worldwide is boosting the growth of the smart baby monitor market globally. The growing number of nuclear families and working parents worldwide is boosting the adoption of smart baby monitoring devices. The working parents are robustly looking for nannies or daycare centers to take care of their children when they are not home. The increasing concerns associated with child safety are also encouraging them to purchase smart baby monitoring devices. The number of working mothers is also on the rise in developed as well as developing countries such as the US, China, India, and Canada. The smart baby monitoring products help parents to carry out their activities efficiently without being stressed about their babies' activities and safety. These systems facilitate the real-time communication between parents and their children through smartphones. Thus, the increasing penetration of smartphones, used to install apps to monitor their babies, also supports the growth of the market.

Based on type, the video monitor device segment led the smart baby monitor market in 2019. Video monitoring devices include cameras, sensors, and smartphones. Video monitoring devices include cameras, sensors, and smartphones. Video cameras provide parents with an access to their children's status through live videos, allowing them to monitor their children efficiently and securely when they are away from home. The video monitoring devices check the baby's activity, feeding schedule, and nap time. Several video monitoring devices for smart baby monitoring are integrated with automatic mobile notifications, two-way audio communication, and temperature sensors. Key manufacturers of video-enabled smart baby monitors are Cubo AI; iBaby Labs, Inc.; and Motorola, Inc.

Depending on the sales channel, the market is segmented into online and offline. Similarly, based on application, the market is segmented into home/family, hospitals, and day care. In 2019, APAC was the fastest growing market. Continuous rise in population and increase in income levels of the middle- and upper-class populations are the significant factors contributing to the baby monitor market growth in APAC. Increasing number of working women, mainly in the developing countries in the region, and mounting potential of smart baby monitor manufacturers, indulged in offering a wide variety of products to meet the increasing consumer demands, also support the market growth in this region. Use of baby monitors allows working parents to keep a track of their babies and caretakers. The increasing number of nuclear families, working parents, and single parents across the region are among the prime conditions compelling manufacturers to develop advanced baby monitoring systems to address parents' concerns regarding baby care and safety during their absence.

The COVID-19 outbreak is adversely affecting economies and industries in various countries owing to lockdowns, travel bans, and business shutdowns. The COVID-19 containment measures undertaken by the governments in this region have negatively affected the electronics sector. China is the leading manufacturing country in this region and is among the worst-hit country along with India which has ultimately impacted the production of electronics equipment. Moreover, due the interruption in supply chain and logistics the procurement rate of various electronics equipment including hardware components of smart baby monitors has been quite affected. India, South Korea, Japan, and Vietnam have witnessed a sharp decline in new projects. Hence, ongoing disruptions in supply of raw materials & components and increasing demand from China & other Asian countries are expected to impact the growth of the smart baby monitor market in coming quarters.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global smart baby monitor market

  • Highlights key business priorities in order to assist companies to realign their business strategies

  • The key findings and recommendations highlight crucial progressive industry trends in the global smart baby monitor market, thereby allowing players across the value chain to develop effective long-term strategies

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Increasing Number of Working Parents

  • Rising Number of Corporate Daycare/Childcare Centers

Restraints

  • Privacy Concerns Associated with Smart Baby Monitor Devices

Opportunities

  • Rising Population of Tech-Savvy Millennial Parents

Future Trends

  • AI-Based Smart Baby Monitors

Companies Mentioned

  • Vtech

  • Motorola Mobility LLC

  • Summer Infant

  • Angelcare

  • PAMPERS (P&G)

  • Owlet Baby Care

  • Nanit

  • Babysense (Hisense)

  • Philips

  • Dorel Industries

  • IBaby

  • Lorex

  • Samsung

  • Withings

  • Snuza

  • Infant Optics

For more information about this report visit https://www.researchandmarkets.com/r/irpond

View source version on businesswire.com: https://www.businesswire.com/news/home/20210421005752/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900