Pune, India, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The global smart baby monitor market size is expected to gain momentum owing to the rising number of employed parents and the increasing adoption of advanced technologies such as artificial intelligence (AI) in the production of smart baby monitor devices across the globe. This information is published by Fortune Business Insights, in its upcoming report, titled, “Smart Baby Monitor Market Size, Share, Growth and Forecast Report, 2023-2030”.
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Leading Players Featured in the Smart Baby Monitor Market Research Report:
- Angelcare Monitors Inc.
- LOREX Technology Inc.
- VTech Holdings Ltd.
- ShenZhen Foscam Intelligent Technology Co
- Samsung Electronics Co. Ltd.
- Dorel Industries Inc.
- iBaby Labs, Inc.
- Among others
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Historical Data | 2018-2020 |
| Base Year | 2021 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Smart Baby Monitor Market Growth Drivers | The rise in the number of employed parents acts as one of the major driving factors for the growth of the market. |
| The decline in birth rate acts as a restraining factor for the growth of the market |
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What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
DRIVING FACTORS
Rising Number of Employed Parents to Spur Demand
According to data by the U.S. Bureau of Labor Statistics, around 64.2% of both parents were employed in the country in 2019. Owing to the better employment opportunities across several sectors and the growing need to improve living standards, the number of employed parents is increasing steadily across the globe. The growing concern of working parents to monitor their kids at home is propelling the demand for innovative smart baby monitors. These devices efficiently monitor the activities of the kids, while promptly alerting the parents about changes in motion, humidity, and temperature around them. The rising rate of employed parents, is therefore, expected to contribute to the growth of the global smart baby monitor market during the forecast period.
COVID-19 Impact-
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from the governments, as well as from several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Segmentation-
By Product
- Audio &Video
- Tracking devices
By Connectivity
- Wired
- Wireless
By Distribution Channel
- Online
- Offline
By Geography
- North America (U.S., Canada, and Mexico)
- Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of ME&A)
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REGIONAL INSIGHTS
Growing Number of Female Workers in North America to Bolster Growth
Among all the regions, North America is expected to remain at the forefront and hold the highest global smart baby monitor market share in the forthcoming years. This is attributable to the growing number of female workers in countries such as the U.S. that is further driving the demand for smart baby monitors. For instance, according to the U.S. Department of Labor, around 47% of the working population in the United States is female. On the other hand, Asia-Pacific is anticipated to hold the second position during the forecast period. This is ascribable to factors such as the increasing number of manufacturing industries that is set to lead to economic prosperity and the availability of jobs in the region between 2019 and 2026.
COMPETITIVE LANDSCAPE
Cubo Ai Launches New Smart Baby Monitor Device to Strengthen its Product Portfolio
The major companies are striving to procure a major chunk of the global smart baby monitor market and gain a competitive edge over their rivals. They are doing so by adoption strategies such as the introduction of new products, collaborations, and mergers and acquisitions during the forecast period. For instance, in July 2020, Cubo Ai, one of the top 3 best sellers of smart baby monitor devices, introduced its new Cubo Ai Baby Monitor device. The new device allows first time parents to access vital information on the baby’s sleep health and other safety alerts with the help of modern technologies such as artificial intelligence (AI).
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