NEW YORK, July 1, 2024 /PRNewswire/ — The global advanced baby monitor market size is estimated to grow by USD 637.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.48% during the forecast period. Innovation in technology and product design and feature leading to premiumization is driving market growth, with a trend towards access to distribution channels through omnichannel strategies. However, lack of awareness and high price of advanced baby monitors poses a challenge. Key market players include Baby Control Digital, Cubo Ai, Dorel Industries Inc., Hisense Ltd., iBaby Labs Inc., Jablotron, Koninklijke Philips N.V., Lorex Technology Inc., Motorola Mobility LLC, Nanit, Owlet Inc., Panasonic Holdings Corp., Safetosleep, Samsung Electronics Co. Ltd., Snuza, Summer Infant Inc., The Holding Angelcare Inc., VTech Holdings Ltd., WiFi Baby, and Withings.
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Advanced Baby Monitor Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 12.48%
Market growth 2024-2028
USD 637.3 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
10.87
Regional analysis
Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution
Europe at 31%
Key countries
US, UK, China, Germany, and Japan
Key companies profiled
Baby Control Digital, Cubo Ai, Dorel Industries Inc., Hisense Ltd., iBaby Labs Inc., Jablotron, Koninklijke Philips N.V., Lorex Technology Inc., Motorola Mobility LLC, Nanit, Owlet Inc., Panasonic Holdings Corp., Safetosleep, Samsung Electronics Co. Ltd., Snuza, Summer Infant Inc., The Holding Angelcare Inc., VTech Holdings Ltd., WiFi Baby, and Withings
Market Driver
The e-commerce industry’s expansion has driven brands to enhance sales experiences, leading to investments in account management, supply chain optimization, and product assortment expansion. Brands are launching informative websites to expand customer reach, enabling product comparisons and customer reviews. Omnichannel retailing, which includes physical stores, company-owned websites, and third-party retailers, is a crucial strategy for expanding customer bases. Advanced baby monitors are a significant market segment benefiting from this trend, with the adoption of omnichannel strategies expected to drive growth during the forecast period.
The Advanced Baby Monitor market is experiencing significant growth, driven by technological advancements and consumer demand for enhanced safety and convenience. Key features include real-time video streaming, temperature monitoring, two-way communication, and night vision. The market is segmented into wired and wireless monitors, with wireless monitors gaining popularity due to their mobility and ease of use. Parents value the ability to monitor their babies from anywhere, ensuring peace of mind and immediate response to baby needs. Companies focus on providing secure connections and user-friendly interfaces to meet consumer expectations. The market is expected to continue growing, driven by increasing awareness and demand for advanced baby monitoring solutions.
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Market Challenges
The advanced baby monitor market faces challenges from low awareness and high product prices, particularly in developing regions. Perceived as luxury items, adoption is slow in Eastern Europe, MEA, and APAC. Companies like Owlet Baby Care and Angelcare offer advanced monitors priced at USD300 and USD250 respectively. To overcome these hurdles, market players focus on increasing awareness about the benefits of these devices. Despite these efforts, the high cost remains a significant barrier to growth during the forecast period.The Advanced Baby Monitor market faces several challenges in delivering optimal solutions for parents. Devices must be reliable and secure, with features such as temperature and sound detection, motion sensors, and video feeds. However, ensuring connectivity and battery life can be difficult. Additionally, privacy concerns arise with the collection and storage of data. Furthermore, the market is becoming increasingly competitive, with new players constantly entering the scene. To stand out, companies must offer unique features and competitive pricing. Overall, the Advanced Baby Monitor market requires continuous innovation and improvement to meet the evolving needs of modern parents.
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Segment Overview
This advanced baby monitor market report extensively covers market segmentation by
Distribution Channel1.1 Offline1.2 OnlineProduct 2.1 Under-the-mattress2.2 Diaper attachment2.3 Smart wearable2.4 Other formatsGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 Offline- The advanced baby monitor market faces a gradual decline in offline sales due to consumer preference for online shopping. To boost offline sales, vendors collaborate with local retailers, including baby product stores, home improvement stores, and consumer electronics stores. This intensifies competition, leading vendors to adopt new strategies such as product offerings and pricing. Additionally, business expansion and the rise of hypermarkets, supermarkets, and other retail formats contribute to market growth. Attractive discounts and schemes offered by these retailers help manufacturers reach more customers, driving market growth during the forecast period.
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Research Analysis
The Advanced Baby Monitor market is experiencing significant growth due to the increasing concern for infant safety in modern society. Technology, specifically Artificial Intelligence (AI), plays a pivotal role in enhancing the functionality of these devices. Sleep apnea, a health risk for infants, is addressed through AI-enabled monitors that can detect irregular breathing patterns. Single parent households and working parents greatly benefit from these smart devices, allowing them to ensure their child’s wellbeing while managing their professional commitments. Home Care and Day Care providers also utilize advanced baby monitors for the welfare of their charges. However, with the integration of the internet and cool features like online advertising, cyber security risks become a concern. Gender biases in advertising and marketing of these devices towards women professionals in Nuclear Families should also be addressed. Electronic Devices, equipped with Radio Transmitters and Video Transmitters, enable parents to monitor their child through a Portable Receiver.
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Market Research Overview
The Advanced Baby Monitor market encompasses innovative and technologically advanced baby monitoring systems designed to ensure the safety and well-being of infants. These monitors incorporate features such as temperature and humidity sensors, motion detection, sound detection, and high-definition video streaming. They allow parents to remotely monitor their baby’s environment and receive real-time alerts for any potential issues. Additionally, some advanced baby monitors offer two-way communication, enabling parents to soothe their baby with their voice. The market for these devices continues to grow as technology advances and parents seek peace of mind while caring for their little ones.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Distribution ChannelOfflineOnlineProductUnder-the-mattressDiaper AttachmentSmart WearableOther FormatsGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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