Global Baby Monitor Market Trends, Estimation and Forecasts to 2024
The Global Baby Monitor Market was valued at $897 billion in 2016, and is projected to reach $1.72 billion by 2024, having a CAGR of 8.6% during the forecast period of 2017 to 2024.
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A baby monitor or a baby alarm, is a radio system which is used to distantly monitor a baby. An audio monitor consists of a transmitter unit, fitted with a microphone, which is supposed to be kept near the child.
It transmits the sounds by radio waves to a receiver unit with a speaker which is carried by person looking out the baby.
There are some baby monitors which provide two-way communication in order to allow the parent to speak to the baby. Baby cams are also flourishing in the current market which are getting fame in the market as they consist a video display in order to look after the infant.
Modern parents now have the option of using baby monitors to listen to or even watch their babies from afar. Many parents find that monitors buy them peace of mind and allowing them to roam freely around the house while still keeping close tabs on their babies.
Increasing number of working parents, growing concerns regarding infant safety and rapidly increasing online retailing are the major drivers to the baby monitor market growth. Moreover, increased disposable income and increasing expenditures with the growth of developing economies is also pushing the market growth.
According to US States Department of Labor, a 2.4% rise in per person expenditure has been observed from 2015 to 2016. In 2016, the expenditure per person in US was $57,311.
However, constantly reducing birth rates and safety concerns associated with these products can act as major restraining factors to the market growth. On the other hand, upcoming demand from the growing economies will act as a lucrative opportunity for the baby monitor market growth.
The global baby monitor market is segmented on the basis of product type, mode of connection and geography. By product type, the market is segmented into audio and video baby monitors.
By mode of connection, the market is segmented as wired and wireless baby monitors. Geographically, the market is segmented as North America, Europe, Asia-Pacific and Rest of World.
Wireless baby monitors the most adopted devices, holding nearly 91.6% of the global market. Geographically North America lead the global baby monitor market in 2016 and is expected to grow with a CAGR of 8.4% during the forecast period.
Some major market players are Summer Infant, Inc., Withings, Inc., Angelcare Monitors, Inc., Dorel Industries, Inc., VTech Holdings Limited, Nest Labs, Inc., Samsung Electronics Co., Ltd., Koninklijke Philips N.V, ShenZhen Foscam Intelligent Technology Co., ltd
GLOBAL BABY MONITOR MARKET SEGMENTATION
By Product Type
By mode of connection
- North America
KEY MARKET PLAYERS
- LOREX Technology, Inc.
- Summer Infant, Inc.
- Withing, Ing.
- Angelcare Monitors, Inc.
- Dorel Industries, Inc,
- VTech Holdings Limited
- Nest Labs, Inc.
- Samsung Electronics Co., Ltd
- Koninklijke Philips N.V
- ShenZhen Foscam Intelligent Technology Co., ltd.
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