(MENAFN- EIN Presswire) Arizton Advisory & Intelligence
More than 32 Million Units of Baby Monitors are Forecasted to be Sold in the Next 6 Years.
The rise in SUIDS cases across the world has contributed to the preference for baby monitors to a greater extent.” - Jim, Senior AnalystCHICAGO, ILLINOIS, UNITED STATES, March 30, 2023/einpresswire.com / -- The baby monitors market will grow at a CAGR of 15.45% during 2022-2028, according to the Arizton's latest research report. The introduction of smart baby monitors, rising demand for IoT devices, technological advancements, new innovative features, and improved marketing and online visibility of these products have all contributed to the global growth of the baby monitor market.
Baby care products have been driven by the need for data and information exchange between parents and hi-tech gadgets. These gadgets are meant to inform parents about activities of their babies. The baby monitor market is also being influenced by the ongoing trends of digital consumerism, which is reshaping the need for and requirement for smart parenting.
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Smart wearable technology has been penetrating the traditional monitor market over the last three years. These products are meant to address the commoditization of the traditional baby monitor market. Vendors have identified the need to launch and innovate baby monitors that are compatible with the concept of smart homes. Motion detection or movement monitoring has gained momentum in the past five years, and many vendors have come up with their offerings in this domain. Rapid innovation and the funding of new start-ups in the movement monitor market have facilitated the introduction of new products. Additional functionalities, such as monitoring of ECG, oxygen level, and temperature, along with the traditional motion sensing function, are being added to these new products by vendors. Such product differentiation offers an additional unique value proposition to tech-savvy consumers who are eager to obtain vital information about their babies.
End-user concerns have been identified by vendors, who have introduced smart, connected devices to address them. The global baby monitor market is poised to be influenced by these upcoming technologies. Furthermore, rapid advances in the technological space will push vendors to launch innovative products in the market, thereby reducing commoditization and promoting market innovation during the forecast period. Thus, vendors of conventional baby monitors must recognize the need to innovate such products to compete with rival products that are trending in the market.
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KEY HIGHLIGHTS
The rise in SUIDS cases across the world has contributed to the preference for baby monitors to a greater extent despite the lack of scientific proof of baby monitors' role in SUID prevention.
In 2022, unit shipments, the audio & video segment accounted for a 56.03% market share and held the leading position. It was followed by the audio-only segment, which accounted for a 24.74% share in 2022.
The global offline distribution of interactive baby monitor market was valued at $1,311.14 million in 2022, growing at a CAGR of 15.08% during the forecast period.
Moreover, over 90% of online retailers offer baby monitors at discounted prices rather than list prices that may be applicable in child specialty stores and other brick-and-mortar distribution channels.
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KEY COMPANY PROFILES
Dorel Industries
Motorola Mobility
VTech
Lorex Technology
Summer Infant
Koninklijke Philips
Samsung Electronics
Foscam
iBaby Labs
Hanwha Techwin
The Holding Angelcare
Hisense
Mayborn Group
Snuza International
iBabyGuard International
infanttech
Jablotron
MonDevices
Nanit
Owlet Baby Care
Respisense
Safetosleep
Evoz
eufy
Miku
Infant Optics
MOBI Technologies
Panasonic Corporation
Procter & Gamble
Levana
Baby Delight
Invidyo
FaceLake
HelloBaby
Eastman Kodak Company
Arlo
Lollipop
Cubo Ai
CasaCam
Wyze Labs
MARKET SEGMENTATION
Products: Audio & Video, Movement Monitor (Under-The-Mattress, Diaper Attachment, and Smart Wearables, and Audio Only
Transmission: Analog and Digital
Type: Conventional and Smart
Distribution: Offline and Online
Geography: North America (The US and Canada), Europe (The UK, Germany, France, Italy, Spain, Netherlands, Poland), APAC (China, Japan, South Korea, India, and Australia), Latin America (Brazil, Mexico, Argentina, and The Rest of Latin America), and Middle East & Africa (Saudi Arabia, South Africa, The UAE, Turkey, and Egypt)
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