The global baby monitor market size is expected to reach USD 3 billion by 2026, growing at a CAGR of 15% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, May 5, 2021 /EINPresswire.com/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global baby monitor market report.
The baby monitor market is expected to grow at a CAGR of around 15% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The growth in tech-savvy millennial parents, rise in awareness on infant safety, and reduced infant mortality are enhancing the growth of interactive baby monitors.
2. Audio and video monitors is expected to maintain its significance throughout the forecast period with a revenue share of over 72% by 2026.
3. The rise in concern over SUIDS and innovation in smart wearable technology is expected to support the growth of movement monitors with a CAGR of around 15%.
4. Secured encryption, advancement in DECT technology, eco-mode is driving digital transmission where the estimated incremental sales was over 10.70 million units during the forecast period.
5. The online distribution channel is expected to surpass 7 million units by 2026 which is led by Europe and North America.
6. The market in China is fueled by the commoditization of various low-cost brands of baby monitors offered by local vendors.
7. France is expected to pose an absolute growth of over 74% in the interactive baby monitor market by 2026 in terms of revenue.
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product, transmission, type, distribution, and geography
• Competitive Landscape – 5 key vendors and 40 other vendors
Baby Monitor Market – Segmentation
• The audio & video segment by volume accounted for over 53% share in 2020. The Asia Pacific region is expected to be a major revenue contributor to the audio & video segment. It is expected to pose an absolute growth of over 125% during the forecast period in terms of unit shipments with high scope for innovation.
• The digital segment by revenue constituted over 81% market share in 2020. North America and Europe accounted for the most significant share in the digital segment. A majority of baby monitors available in the market using digital transmission. It is expected that digital baby monitors with eco-mode could be in increasing demand as they are designed to emit radiation only when activated by a sound or motion.
• By revenue, the conventional segment accounted for over 65% in 2020 and is expected to pose an absolute growth of 110% during the forecast period. However, the segment estimates to lose its share to the booming smart category due to enhanced audio and video quality, security, voice integration, and portable nature.
Baby Monitor Market by Product
• Audio Only
• Audio & Video
• Movement Monitors
Baby Monitor Market by Transmission
Baby Monitor Market by Type
Baby Monitor Market by Distribution
Baby Monitor Market – Dynamics
Rise in the number of newborns is a key demographic factor influencing the sales potential of baby monitors since they are used during the first few years of birth. Globally, there has been a sluggish rise in the overall birth rate in the last decade. However, countries such as China, India, and Nigeria are some of the fastest developing economies. Further, birth rates in these countries are high, and the market for baby monitors is niche, thereby making them highly potential markets for baby monitors. Although the sale of baby monitors is concentrated in developed economies, the declining birth rate and the maturing of the market in these countries are major concerns for vendors. Further, developing economies offer high growth potential for vendors with their vast resources and population. The increasing per capita disposable income coupled with access to the internet and the growing awareness about baby monitors are the major factors driving rapid market growth in recent years.
Key Drivers and Trends fueling Market Growth:
• Growing Demand for Smart Baby Monitors
• Increase in Tech-savvy Millennial Parents
• Reduced Infant Mortality Rates
• Influence of Internet on Consumer Purchase Decisions
Baby Monitor Market – Geography
The US has been the playground for several vendors and the adoption of baby monitors has been the highest worldwide. The vendors have capitalized on the demand for smart home devices and smart monitors act as leverage for enhancing the market share of vendors. Thus, the region is likely to witness higher growth from digital, smart, and movement monitor segments. The market is also expected to witness high demand for baby monitors because of their reliability, ease of installation, and convenience. With rapid advancements in technology, they deliver high performance and have become user-friendly. Another trend in the market that must be explored to attain growth is to promote voice integration into the monitors for enhanced convenience and operational flexibility.
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Baby Monitor Market by Geography
• North America
• South Korea
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• Dorel Industries
• Motorola Mobility
• Lorex Technology
• Summer Infant
Other Prominent Vendors
• Koninklijke Philips
• Samsung Electronics
• iBaby Labs
• Hanwha Techwin
• The Holding Angelcare
• Mayborn Group
• Snuza International
• iBabyGuard International
• Owlet Baby Care
• Infant Optics
• Panasonic Corporation
• Procter & Gamble
• Baby Delight
• Eastman Kodak Company
• Cubo Ai
• Wyze Labs
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