The global baby monitor market is expected to reach US$ 567 Million in 2022. Sales of baby monitor tests are projected to accelerate at a CAGR of 8.3% which will reach US$ 1,264 Million by 2032.
With the advancement of technology, children’s tools and methods have always increased along with it. The Internet of things has been playing a significant role in expanding the range of products available as well as broadening the market for these products. A cost-efficient wireless sensor-based system for motion detection and monitoring of babies is being presented by various manufacturers in the market. Models are created using low-cost algorithms that analyze motion. A great deal of importance is placed on monitoring movements in childcare. With the assistance of sensors, parents can detect any irregularities that may exist.
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Baby Monitor Market: Key Highlights
- Because of the rising sales of baby monitors in this region, the market for baby monitors in North America is more attractive. The rising percentage of working people in the region, particularly in the United States, combined with the region’s rising GDP per capita, is predicted to boost baby monitor sales. During the forecast period, the market for baby monitors in North America is expected to grow at a high CAGR of 9.5 percent.
- During the assessment phase, video monitoring is projected to gain a lot of traction. The expansion of this category is being supported by the growth of IoT (Internet of Things), which allows parents to track their children’s every step on their devices (smartphones, tablets or laptops).
- The sale of wired baby monitors has increased dramatically in recent years. In the following years, this tendency is projected to continue. By the conclusion of the assessment year, sales of wired baby monitors are estimated to exceed US$ 890 million.
- In terms of sales channel, modern trade is likely to lead the global market for baby monitors. The modern trade segment is expected to surpass US$ 300 million in baby monitor sales. Online stores are also contributing to the worldwide market’s growth, and this segment is expected to rise at a strong rate throughout the forecast period
New product launches and expansion of credit lines to improve production processes are two of the key strategies used by baby monitor manufacturers. The company also relies on approaches such as mergers and acquisitions, collaborations, and partnerships with existing players and research institutes.
- Introducing its newest innovation, bonoch is an emerging brand offering childcare products designed to support multi-child families. With the new Video Baby Monitor from Bonoch, users can monitor multiple angles simultaneously with two HD cameras. This brand was launched in 2021 and focuses on building innovative products to help first-time parents. Additionally, the Baby Monitor can play soothing lullabies and provide real-time room temperature readings in addition to a two-way voice system to help children rest before sleeping.
- A new AI baby monitor has been launched by Pxierra. In order to keep track of their newborn’s vital signs, parents can use this new device to measure heart rate and breathing rate without having to touch him or her. In order to help parents care for their newborns, Pxierra provides them with the latest technology. A new era of neonatal nursing technology has been ushered in by the constant evolution of AI algorithms. Pxierra, a Chinese tech startup, has recently developed a baby monitor that applies artificial intelligence algorithms. A visual perception system based on edge computing is integrated into the Pxierra AI monitor. To aid parents in understanding their baby’s sleep patterns and overall health, the monitor incorporates both a sleep tracker and an activity monitor.
Global Baby Monitor Market by Category:
- By Product Type:
- Audio Baby Monitor
- Video Baby Monitor
- Motion Sensor Baby Monitor
- By Connectivity:
- By Sales Channel:
- Retail Stores
- Specialty Store
- By Region :
- North America
- Latin America
- Asia Pacific
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Questionnaire answered in the Market outlook Report of Baby Monitor include:
- What is the key strategy deployed by large players to maximize Baby Monitor Market growth?
- What are the main challenges faced by players in the Baby Monitor market Demand?
- With the advent of technological advancement, how will the Baby Monitor market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Baby Monitor market size?
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