Global Smart Baby Monitor Market Size To Exceed USD 2298.38 Million By 2032 | CAGR of 7.85%

Category: Consumer Goods

RELEASE DATE Sep 2023
REPORT ID SI2704

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Global Smart Baby Monitor Market Size To Exceed USD 2298.38 Million By 2032.

               

According to a research report published by Spherical Insights & Consulting, the Global Smart Baby Monitor Market Size is to grow from USD 1079.86 Million in 2022 to USD 2298.38 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 7.85% during the projected period.

Global Smart Baby Monitor Market

 

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Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global Smart Baby Monitor Market Size, Share, and COVID-19 Impact Analysis, By Product (Video Monitor Device and Audio Monitor Device), By Connectivity (Wired, Wireless), By Distribution Channel (Online, Offline), By Application (Home/Family, Commercial, Daycare, Hospitals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."  Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/smart-baby-monitor-market

 

The number of single-parent homes and working parents is rising, smart baby monitoring devices are becoming more and more common. Working parents are actively looking for nannies or daycare centers to monitor their children while they are gone. Parents use this device to communicate information using their smartphones. When both parents are working, parents are more likely to spend money to keep their kids safe. The demand to maintain an eye on newborns' activities and the growing number of working parents are driving demand for this device. The market for smart baby monitors is expanding as a result of technological advancements, particularly in the areas of video and Wi-Fi. The development of technology has made baby monitors possible for parents and newborns to communicate in real time. For instance, in addition to a long-range monitor and night vision, the Willcare Newborn baby monitor provides features including lullaby tracks, temperature sensors, and a clock. Baby monitor demand is expected to rise dramatically over the next years as a consequence of technological advancements and ease of use. Parents and other individuals can watch a child's whereabouts while they are gone thanks to smart baby monitors. Furthermore, they provide crucial environmental data like the room's temperature.

 

COVID 19 Impact

The COVID-19 epidemic is having a negative impact on economies and industries in a number of nations due to lockdowns, travel bans, and company closures. The governments in this region's COVID-19 containment efforts have had a negative impact on the electronics industry. China, the region's top manufacturer and one of the worst-affected nations, along with India, has finally had an influence on the production of electrical equipment.

 

Additionally, the purchase rate of different electronic equipment, including the hardware components of smart baby monitors, has been significantly impacted by the disruption in supply chain and logistics. In India, South Korea, Japan, and Vietnam, the number of new projects has significantly decreased. Consequently, it is anticipated that persistent problems with the availability of raw materials and components and rising demand from China and other Asian nations are expected to impact the growth of the smart baby monitor market in the coming quarters.

 

The video monitor devices segment dominates the market with the largest revenue share over the forecast period

Based on type, the global smart baby monitor market is segmented into video monitor devices and audio monitor devices. Among these, the video monitor devices segment is dominating the market with the largest revenue share of 82.5% over the forecast period. The baby's activities, feeding schedule, and nap time are all monitored through video; several video monitoring systems for smart baby monitoring incorporate temperature sensors, automated smartphone notifications, and two-way audio; When parents are away from home, they may quickly and safely keep an eye on their kids by watching live footage of their whereabouts.

 

The wireless connectivity segment is witnessing significant CAGR growth over the forecast period.

On the basis of the wireless connectivity segment, the global smart baby monitor market is segmented into wired and wireless. Among these, the wireless connectivity segment is witnessing significant CAGR growth over the forecast period. since the simplicity and ease of use, wireless connectivity is becoming increasingly popular. Compared to traditional baby monitors, which require complex cabling, wireless connectivity offers a simpler setup and greater mobility. smartphones and tablets allow parents to keep an eye on their children while they are out and about or in another room. Modern features like two-way audio, night vision, and connectivity with smart home automation systems are also frequently found in these monitors.

 

The offline segment is expected to hold the largest Global Smart Baby Monitor Market share during the forecast period.

Based on the application, the global smart baby monitor market is classified online and offline. Among these, the offline segment is expected to hold the largest smart baby monitor market share during the forecast period. Many parents prefer to physically examine and interact with products before making a purchase, which offline retailers allow. To reassure customers, offline businesses also frequently provide demonstrations and qualified advice. Additionally, some customers might not always have access to the internet, making offline merchants a more convenient option.

 

The home/family segment accounted for the largest revenue share of more than 57.2% over the forecast period.

On the basis of application, the global smart baby monitor market is segmented into home/family, commercial, daycare, and hospitals. Among these, the home/family segment dominates the market with the largest revenue share of 57.2% over the forecast period. Global adoption of smart baby monitors is being driven by an increase in the number of working parents and increased knowledge about the use of devices equipped with innovative technology.

 

North America dominates the market with the largest market share over the forecast period.

Global Smart Baby Monitor Market

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North America is dominating the market with more than 51.2% market share over the forecast period. Some of the factors that contribute to the market's expansion in this sector include the rapid adoption of new technology, an increase in dual income due to the high employment rate, and the adoption of female empowerment, which leads to an increase in the proportion of female workers. According to the US Department of Labor, women make up roughly 47% of the working population in the nation. Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The continued population growth and the rising income levels of the middle- and upper-class populations have a major impact on the growth of the baby monitor market in APAC. Families frequently look for methods to guarantee their children's safety and happiness even when they are not present physically. Europe market is expected to register a substantial CAGR growth rate during the forecast period.

 

Major vendors in the global smart baby monitor market include Motorola, Inc, Samsung Electronics Co., Ltd., Summer Infant, Inc., Vtech Communications, Inc., Lorex Technology Inc, Dorel Juvenile Group, Inc., Ibaby Labs, Inc., Koninklijke Philips N.V., Infant Optics, Snuza International, Graco Inc, WiFi Baby, Withing’s SA, Nanit Sleep System

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In August 2023, Masimo, a global leader in noninvasive monitoring technologies, announced the full U.S. market release of the Stork smart home baby monitoring system.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global smart baby monitor market based on the below-mentioned segments:

 

Smart Baby Monitor Market, Product Analysis

  • Video Monitor Device
  • Audio Monitor Device

 

Smart Baby Monitor Market, Connectivity Analysis

  • Wired
  • Wireless

 

Smart Baby Monitor Market, Distribution Channel Analysis

  • Online
  • Offline

 

Smart Baby Monitor Market, Application Analysis

  • Home/Family
  • Commercial
  • Daycare
  • Hospitals

 

Smart Baby Monitor Market, Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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