New York, July 28, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “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” The global smart baby monitor market growth is driven by growing number of nuclear families and working parents worldwide & increasing concerns associated with child safety are also encouraging them to purchase smart baby monitoring devices.
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| Market Size Value in | US$ 989.38 Million in 2020 |
| Market Size Value by | US$ 1.81 billion by 2028 |
| Growth rate | CAGR of 8.0% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 203 |
| No. Tables | 166 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Type , Sales Channel , and Application , Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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.
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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.
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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 smart baby monitoring market in APAC is further segmented into China, India, Japan, Australia, South Korea, and Rest of APAC. China is contributing a considerable share to the overall smart baby monitoring market in APAC. Rise in disposable income and the betterment of internet infrastructure in Asian countries are the key forces allowing individuals to purchase high-end products, including smartphones, laptops, wearables, and tablets. China, India, Indonesia, and Japan have a large number of smartphone users. Currently, there is a high demand for cost-effective and smart electronic devices such as baby monitoring devices. Policymakers and regulators in both developed and developing countries in APAC are creating a favorable growth and investment environment for the development, adoption, and application of advanced technologies such as artificial intelligence (AI) and the Internet of things (IoT).
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