Overview:
The global Advanced Baby Monitors Market is thriving in the competitions put on the table by market players. The market players are now banking more on innovation to come face-to-face with each other. They are spending a significant amount on research and development, and are seeking help from the latest technologies to promote the market better. Baby monitors are alarms that simplify for parents the process of tracking a baby’s movement and other activities. Advanced baby monitors include video tracking and sometimes they provide healthcare-related support as well, like monitoring body temperature, heart rate, and others. Owing to such extensive provisions, advanced baby monitors are gaining ground in urban areas more; especially its popularity is increasing with the nuclear families. The global advanced baby monitor market is expecting a growth by 9.2% during the forecast period (2018-2025), reveals Market Research Future (MRFR) in an extensive study. The report further includes segments, expert analysis, and comprehensive overview of the competitor landscape for a holistic understanding.
An increasing number of nuclear families due to the rapid urbanization and rising disposable income are expected to promote the advanced baby monitors market in the coming years. In addition, parents are now more aware of the technologies that can assist them in providing their child with optimum care. The ease of wireless monitoring is one among many. Easy connectivity and portability of these products can trigger the growth of the advanced baby monitors market during the forecast period.
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Segmentation:
MRFR, for a better analysis of the advanced baby monitors market, segmented it by product and end-user.
Based on the product, the global advanced baby monitors market can be segmented into stationary type and wearable type. The stationary type segment owns the lion’s share of the market, that is almost 80% market share as of 2017. During the forecast period, the segment can grow with 9.09% CAGR and exceed a valuation of USD 1491.85 million by 2025. Meanwhile, the wearable segment can expect a faster CAGR of 9.61% during the forecast period.
Based on the end-users, the global advanced baby monitors market can be segmented into home care, day care, and others. 87% of the market is getting steered by the home care segment as of 2017 and is expected to scale valuation of USD 1660.94 million by 2025 with an expected growth of 9.39 % during the forecast period.
Regional Analysis:
The region-specific report of the advanced baby monitors market encompasses existing trends and discusses opportunities of namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is providing the maximum amount of global revenue by wielding control over 48% of the market as of 2017. The regional market is expected to ride high on the inclination of having niche product to have optimum baby care support. The region has several market dominants and can rise by 9.42% CAGR during the forecast period.
Europe is following the suit, and its market valuation is expecting to touch USD 603.38 million by 2025 with a 9.31% CAGR over the assessment period. Increasing e-commerce penetration in the region can impact the market growth as well.
The APAC region is expected to grow with the fastest CAGR during the forecast period, and it can clock 9.54% growth by that time. Evolving economies such as China and India and a developed nation like Japan are providing the much-needed thrust. The growth can be attributed to the rising disposable income and literacy rate of the region which is now focusing more on offering the best care to the child which can drive the advanced baby monitors market forward.
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Competitive Landscape:
Notable players to make a mark in the advanced baby monitors market are Angelcare (Canada), The First Years, Inc. (U.S.), Mayborn Group (U.K.), Samsung Electronics Co. Ltd. (South Korea), Lorex Technology Inc. (Canada), Summer Infant, Inc. (U.S.), MonDevices (U.S.), Snuza International (South Africa), Owlet Baby Care (U.S.), MOTOROLA HOME (U.S.), Graco Children’s Products, Inc. (U.S.), Safety 1st (U.S.), and Koninklijke Philips N.V. (Netherlands).
Temp Traq has launched recently a first-of-its-kind wearable temperature monitor that can, with the assistance of Bluetooth device, transmit regular temperature updates to a smartphone. This would ease the monitoring process of the child for parents.
Miniplus, on the other hand, is a camera with a motion detector and wi-fi that allows parents to watch their baby and triggers alarm if it senses some unusual happenings.
Owlet Smart Sock provides parents with real-time information regarding the child’s heart rate and oxygen intake.
