(MENAFN- America News Hour) Kenneth Research has recently added a report titled Global Baby Wireless Monitor market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Global Baby Wireless Monitor market is further anticipated to grow with a CAGR of 4.1% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Baby Wireless Monitor Market Overview
Baby monitor is basically a baby alarm, which enables parents to remotely track the activities of a baby. A basic audio monitor consists of a transmitter and microphone, which aids a two-way communication between the parent and the baby. The primary use of a baby monitor is to track the movement of the baby when the parents are not at home or are away from the vicinity of the baby. The most common types of baby monitors are audio baby monitor, fixed video monitor and pan & tilt baby monitor in terms of by product.
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Market Size and Forecast
The global baby wireless monitor market is expected to grow at a CAGR of 4.1% over the forecast period i.e. 2017-2024. Growing awareness about baby safety, increasing disposable income coupled with increased online trade are the factors driving the growth of the baby wireless monitor market globally. Thus, growing influence of the internet on end-users' purchasing behavior is the major factor anticipated to bolster the growth of baby wireless monitor market.
'Final Report will add the analysis of the impact of COVID-19 on this industry.'
Geographically, North America region has been consistently dominating the baby wireless monitor market globally. The United States is the leading country in this region because of better technological infrastructure and increase in adoption of innovative baby products fostering the baby wireless monitor market in the region. Primarily, video wireless monitors by product are popular in this region. Europe holds second largest baby wireless monitor market and it will show a robust growth over the forecast period.
Asia Pacific and Middle East and Africa are the fastest growing markets due to rising number of working parents and nuclear families. The Asia Pacific region is the most lucrative market for wireless baby monitors owing to increased adoption of baby monitor amongst Asian parents coupled with rising per capita income and dual income households.
Market Segmentation
Our in-depth analysis segmented the Baby wireless market monitor in the following segments:
By Product
Audio only baby monitor
Video baby monitor
Pan and tilt monitor
Baby Motion & Breathing Monitor
Wi-Fi & Remote Baby Monitor
Smart Baby Monitor
By Distribution Channel
Online store
Offline store
By Component
Display
Camera
Audio Device
Sensors
Others
By Region
Global baby wireless monitor Market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
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Growth Drivers and Challenges
Rising urbanization coupled with increasing number of working parents has led to a higher adoption of baby monitors in homes which are fostering the growth of baby wireless monitor market. These baby monitors enable employed parents to watch their baby or track their activities when they are away from home.
Another factor inclining the demand for baby wireless monitor market include increase in penetration of smartphones coupled with growing usage of internet which has enabled parents to watch their baby from a different location. Rise in the usage of online retailers for baby products has led the market for easy availability of wide range of baby monitoring products without wasting time in shopping in the offline (physical) stores, which has significantly boosted the demand for baby wireless monitor market. Apart from this, the market is driven by rising per capita spending on child care products across the developing economies. However, safety and security concerns along with declining birth rate may restrain the growth of baby monitors market in the next few years.
Key players
The major key players for Baby wireless monitor are as follows
Phillips Electronics
Samsung Electronics Co. Ltd.
Dorel Co. Ltd.
Motorola Inc.
Lorex Technology Inc.
Owlet Baby Care Inc.
Sproutling Inc.
AngelCare Monitors
Drop Cam Inc.
Summer Infant Inc
Scope and Context
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players .
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