Newark, June 29, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.9 billion smart baby monitor market will reach USD 3.40 billion by 2032. The electronic consumer goods known as a smart baby monitor, also known as a baby alarm, are mainly used for constant monitoring of babies present in homes. It gives information on babies and also helps in tracking the activities of the babies and report them directly to their parents via smartphone apps. It can also provide live video, audio, and location information. The main drivers of the market's expansion are the increase in the number of nuclear households and the birth rate. Other indirect market development factors include parents' growing concern for their children's safety. Product improvements and technological advancements resulting in improved benefits like the capacity for parents to follow and communicate with their children in real-time also generate lucrative and rewarding market growth potential.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 1.9 Billion |
| Market Size in 2032 | USD 3.40 Billion |
| CAGR | 6% |
| No. of Pages in Report | 110 |
| Segments covered | Product Type, Distribution Channel |
| Drivers | Rising Women Professionals |
| Opportunities | Technological Advancements |
| Restraints | Rise of Infertility Rates |
North America to account for the largest market size during the forecast period.
North America is expected to have the most significant smart baby monitor market share. One of the main factors driving the market's growth in the United States is the increased adoption of cutting-edge baby products. The country's explosive boom in internet retailing is also helping the industry expand. The market's expansion has been boosted by the simple accessibility of the smart baby monitor in specialty and online stores in the United States and Canada.
The video segment dominated the market with the most significant revenue of USD 1.12 billion.
The video segment dominated the market with the most significant revenue of USD 1.12 billion. In the upcoming years, it is projected that these video devices will experience a significant increase. These goods occasionally have options for baby wearables. These sophisticated baby monitors link directly to the child's body for improved monitoring. To give parents information about their children's health, they monitor the children's room temperature, rate, movement, heart oxygen levels, sleep patterns, and temperature.
The retail stores segment dominated the market with the most significant revenue of USD 0.72 billion.
The retail stores segment dominated the market with the most significant revenue of USD 0.72 billion. Retail store's capacity to offer a large variety of goods is anticipated to be the main factor influencing online sales.
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Market Dynamics:
Drivers: Rising Purchasing Power
Rising purchasing power in developing nations like China, Thailand, India, and Brazil is anticipated to enable consumers to spend more on protecting their children. By giving customers anywhere fast access to the items, the advent of e-commerce has boosted the demand for smart baby monitors. A modification in China's one-child policy is also anticipated to increase market size in the coming years.
Restraint: Safety Issues
Manufacturers in the smart baby monitor business may face difficulties due to safety issues related to these devices.
Opportunity: News Technologies
The use of new technologies and the Internet of Things (IoT) to innovate products is increasing the demand for goods in developed and developing nations. Consumers worldwide have been drawn to features including mobility, simplicity of installation, and WLAN connection. On the other hand, a decline is anticipated to hamper the market demand for the business in the coming years in the birth rate brought on by a high-stress and sedentary lifestyle.
Challenge: High Cost
The high price of cameras, particularly in developing economies, restrains market expansion.
Some of the major players operating in the smart baby monitor market are:
● SAMSUNG
● Motorola Mobility LLC
● Safety 1st
● iBaby Labs, Inc
● Miku Inc
● NETGEAR
● SUMR™ BRANDS
● VTech Communications, Inc
● Medisana AG
● The Holding Angelcare Inc.
Key Segments cover in the market:
By Product Type:
● Audio
● Video
By Distribution Channel:
● Retail Stores
● Supermarket/Hypermarket
● E-Commerce
● Specialty Stores
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About the report:
The global smart baby monitor market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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