Overview and Scope
A smart baby monitor is a device equipped with advanced features such as video streaming, temperature sensors, and mobile app connectivity, allowing parents to monitor and ensure the well-being of their infants remotely. It enhances convenience and provides real-time insights into the baby’s environment.
Sizing and Forecast
The smart baby monitor market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed the increasing presence of online retailers, growing urbanization and lifestyle changes, rising dual-income households, and growth in the volume of nuclear families.
The smart baby monitor market size is expected to see strong growth in the next few years. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to the growing population of working parents, rising focus on holistic child development, the increasing penetration of smartphones, and growing dependence on remote monitoring of infants. Major trends in the forecast period include collaborations, partnerships, advancements in camera technology, technological advancements, product innovations, and use of artificial intelligence.
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Segmentation & Regional Insights
The smart baby monitor market covered in this report is segmented –
1) By Product: Audio And Video, Tracking Device
2) By Connectivity: Wired, Wireless
3) By Distribution Channel: Hypermarket Or Supermarket, Wholesalers Or Distributors, Specialty Stores, Independent Stores, Online Retailers, Other Sales Channel
4) By Application: Home or Family, Commercial, Daycare, Hospitals
North America was the largest region in the smart baby monitor market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart baby monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The surging population of working parents is expected to propel the growth of the smart baby monitor market going forward. Working parents refer to individuals who are parents or guardians of children and are actively engaged in employment or some form of work to earn a living. A smart baby monitor helps working parents by providing real-time remote monitoring and alerts, allowing them to balance work commitments while ensuring the safety and well-being of their child. For instance, in 2023, according to the U.S. Bureau of Labor Statistics, a US-based government agency, around 91.2% of households with children under the age of 18 had at least one employed parent in 2022, an increase from 89.1% in 2021. Further, almost all families with children (97.4%) in 2022 had at least one working parent, and approximately 65.0% of these households featured both parents working. Therefore, the surging population of working parents is driving the growth of the smart baby monitor market.
Key Industry Players
Major companies operating in the smart baby monitor market report are Samsung Electronics Co. Ltd., Panasonic Corp., BT Group plc, Anker Innovations, Koninklijke Philips N.V., Motorola Inc., VTech Holdings Limited, Graco Inc., Dorel Industries Inc., Arlo Technologies Inc., LeapFrog Enterprises Inc., Allen & Heath Ltd., Summer Infant Inc., Lorex Technology Inc., Owlet Baby Care, Withings, Angelcare Group, Nanit, Cubo AI, Miku Inc., Lollipop Smart Baby Camera, Bebcare Baby Care, Babysense, Raybaby, WiFi Baby, ShenZhen Foscam Intelligent Technology Co., iBaby Labs Inc., Medisana GmbH, Infant Optics, Snuza International
The smart baby monitor market report table of contents includes:
1. Executive Summary
2. Smart Baby Monitor Market Characteristics
3. Smart Baby Monitor Market Trends And Strategies
4. Smart Baby Monitor Market – Macro Economic Scenario
5. Global Smart Baby Monitor Market Size and Growth
…..
32. Global Smart Baby Monitor Market Competitive Benchmarking
33. Global Smart Baby Monitor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Baby Monitor Market
35. Smart Baby Monitor Market Future Outlook and Potential Analysis
36. Appendix
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