The Baby Monitor market is expected to grow at CAGR of 8.5% during forecast period of 2015-2020. In 2014, the North America accounted for the largest share of about 62.3%, owing to higher per-capita spending on baby care products and prevalence of nuclear family culture.
Baby monitor is basically a baby alarm, which facilitates parents to remotely track the movements and other activities of the baby. A basic audio monitor consists of a transmitter and microphone, which enables a two-way communication between the parent and the baby.
Baby video monitor is an advanced version of baby monitor, which allows parents to see and monitor baby’s movements. Further, baby monitors with movement trackers and preinstalled lullabies, are also available in the market, to cater to the varying needs of the parents.
Increase in the number of working parents and nuclear families has led to a higher adoption of baby monitors in homes and day care centers. Growing awareness about baby safety, increasing disposable income and increased online retailing are other factors that have fueled the growth of the market.
However, declining birth rate due to sedentary lifestyle and safety concerns associated with these products are amongst major challenges for the players operating in the industry. Irrespective of challenges, the industry is anticipated to offer attractive business opportunities in developed as well as developing regions in near future.
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The world baby monitors market is segmented on the basis of type, mode of connection and geography. Based on type, baby monitors are categorized as audio and video baby monitors.
Market is categorized as wired and wireless baby monitors depending on mode of connection. Wireless baby monitors offer the advantage of portability, ease of installation and connection as these can be easily connected to WLAN.
The world baby monitors market is analyzed on the basis of geographical regions, which include North America, Europe, Asia-Pacific and LAMEA.
Rise in number of employed parents in the countries such as the United States, Canada, China and others, is the major factor that drives baby monitor’s market. This increase in number is subjected to increase in number of working mothers.
These baby monitors enable employed parents to watch their baby or track baby’s movements when they are away from home or at workplace. Increase penetration of smartphones and growing usage of internet have enabled parents to watch their baby from a remote location.
Declining birth rate is a key challenge faced by manufacturers of baby monitors. Sedentary lifestyle and high stress level are the main causes of low birth rate.
Urbanization, smaller household, a higher number of people are entering into education and career, and population control have led to increase in the stress level of consumers. Low fertility is observed especially in the Western European countries, Japan, Canada, Russia, and Poland which limits market growth.
Key Findings of Baby Monitor Market:
- In 2014, North America was the highest revenue-generating market, owing to higher adoption of niche baby care products
- Western Europe has emerged to be the second largest market with Germany and U.K. accounting for the prominent share of the overall market by value
- Video monitors have emerged to be the prominent segment due to increasing demand for high-end baby monitoring devices with smart monitoring features
- The Asia-Pacific region would witness the fastest growth during 2015-2020, owing to the increasing adoption of high-end baby monitors in developing economies such as China and India
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