Global Digital Baby Monitor Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Audio & Video), By Connectivity (Wired, Wireless), By Distribution Channel (Supermarket/Hypermarket, Retail Stores, Specialty Stores & Online), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2028
KEY MARKET INSIGHTS
The Digital Baby Monitor Market was valued at USD 1.5 Bn in 2021. The market is projected to grow USD 2.6 Bn in 2028, at a CAGR of 13.6%. Baby monitors are used to keep an eye on infant to connect directly with the parents through audio and video monitoring. They are used by parents to keep track of their children's movements while they are away. Some customers use these monitors to hear sounds from their baby's room, while others utilize video monitoring to keep an eye on their youngsters. Because of the development of the worldwide electronic industry and the rise of digitalization, the global baby monitor market is booming. Additionally, the rise in dual-working households and the number of working women are two important reasons driving the demand for baby monitors. With growing concerns about the cyber-security hazards posed by digital devices, such as baby monitors, governments of few countries are making regulations that will improve customer confidence in these goods. Moreover, these factors are creating the demand for the growth of the global digital baby monitor market. Because of the growing impact of the internet on consumer purchasing decisions, increased awareness about newborn safety, the rise of movement monitors, and the popularity of smart baby monitors, the market is likely to anticipate throughout the forecast period.
The growing number of nuclear families with better lives and both parents working has created new prospects for a variety of enterprises, including baby care items like smart baby monitors. Other factors driving the smart baby monitor market include a growing preference for online shopping and increased spending on baby supplies. However, because these products are largely intended to track the movements and other activities of babies in their personal area, guaranteeing data security is a key problem for market players. Furthermore, the smart baby monitor market is growing as a result of ongoing technology advancements, particularly in the areas of video and Wi-Fi. The popularity of smart baby monitoring gadgets is increasing due to the growing number of nuclear families and working parents around the world.
The COVID-19 epidemic has severely impacted on the electronics and personal care equipment supply chains, including the hardware components of smart baby monitors. The discovery of the COVID-19 virus and related lockdown scenarios prompted industry analysts to estimate that the electronics equipment supply chain would be at least a quarter delayed. Furthermore, the COVID-19 outbreak has put a strain on household finances, prompting parents to look for further ways to minimize costs. Tremors are predicted to be felt until mid-2021 as a result of this interruption. In North America, the United States is the most affected country. Because of the rising number of infections, the government has implemented a variety of containment measures, including factory closures, travel restrictions, international border closures, and lockdowns. The country's huge spike in confirmed cases and reported deaths has had an impact on both manufacture and sales of materials related with smart baby monitors.
Increase Demand in Consumer Demand for Wireless Monitors Across the World
In comparison to traditional wired cameras, there has been an increase in consumer demand for wireless monitors due to their ease of connection and simple design. Furthermore, an increase in disposable income, a rise in living standards, an increase in infant-care spending, and widespread advertising of video surveillance for its benefits, such as real-time interaction with children, all contribute to the growth of video baby monitor goods. A higher standard of living is the result of increased disposable money. Furthermore, an increase in the demand for monitoring in baby's rooms, as well as an increase in the working population, are driving market expansion. Furthermore, the demand for baby monitors is predicted to increase as a result of the introduction of new technologies such as smart monitors and temperature sensors in monitors. Consumers expect innovative product type and easy-to-use interactive features in the monitors which is projected to propel the digital baby monitor market.
Growing Number of Working Mother
Increased participation of working women in the labor force significantly over the world in recent years. The historical increase in female labor force participation has slowed or even reversed in several regions of the world in recent years. Women all throughout the world devote a significant amount of time to tasks that aren't traditionally classified as economic. As a result, when the time-cost of unpaid care work is lowered, shared equally with men, and/or made more compatible with market work, female involvement in labor markets tends to rise. The increased engagement of women, particularly mothers with new-born, has resulted in increased sales of baby monitoring devices which is expected to drive the growth of the global digital baby monitor market.
Increasing Penetration of Internet and Usage of Smartphones Among the Consumers
Increasing number of smartphones and high speed connectivity among the consumers is propelling the growth of the global digital baby monitor market. The connected smartphones with the baby monitoring devices will make easy handling and more convenient than traditional baby monitor devices. Also, keep track of real time insights of the infant.
Surging Product Innovations Are Propelling the Market Forward
Increasing demand of smart friendly devices is fueling the growth of the global digital baby monitor market. The technological advancement is playing the major role in the digital baby monitor market growth. Individuals prefer energy saving devices across their home to reduce the time and keep tracking on the infant. The new innovations such as LED interfaces, humidity sensors, noise emission and others are featured to reach huge customer base.
Concerns Pertaining to High Cost Will Restrict the Growth of Electric Cloth Dryer Market
Smart and AI-enabled monitors are expensive than traditional monitors. The raised product inventory costs to fulfil the need for more smart features and AI-enabled monitors, which escalates both the overall cost of production and the price of the product. Aforementioned factors are limiting the growth of the global digital baby monitor market.
The global digital baby monitor market is segmented by Product Type (Audio & Video), by Connectivity (Wired & Wireless), by Distribution Channel (Supermarket/Hypermarket, Retail Stores, Specialty Stores & Online) and region. Based on the product type, the market is categorized into audio & video. Based on connectivity, the market is categorized into wired & wireless. Based on distribution channel, the market is categorized into supermarket/hypermarket, retail stores, specialty store & online. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
Product Type Insights
Based on the product type segment, the global digital baby monitor market is categorized into audio & video. The video segment has dominated the market share of the global digital baby monitor market in 2020 owing to the increased usage of real-time interaction of parents with babies. The video monitor has multiple features such as night vision, zooming, tilting, and more convenient than conventional baby monitors.
Based on the connectivity segment, the global digital baby monitor market is categorized into wired & wireless. The wireless held the largest market share in 2020 of the global digital baby monitor market attributing to the increasing demand for user friendly smart devices in turn growing sales of wireless smart monitors. Easy use and simple design are some of the features which is fueling the growth of the global digital baby monitor market.
Distribution Channel Insights
Based on the distribution channel segment, the global digital baby monitor market is categorized into supermarket/hypermarket, retail stores, specialty stores & online. The retail stores segment is dominated the market share in 2020 owing to the number of retail shops is increasing in both urban and rural locations. Furthermore, the availability of many types of monitors in these retail stores is a crucial element driving baby monitor sales through retail stores.
The global digital baby monitor market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
North America region is dominating the market share of global digital baby monitor market owing to the a growing awareness of the benefits given by these devices, a growing tendency of nuclear families, an increase in people's spending ability, and a growing understanding of the advantages provided by these items The advancement of these devices, as well as increased personal equity investment in the electronics sector in developed economies such as the United States and Canada, are contributing to the growth. Furthermore, the region is expected to see an increase in parental knowledge of childcare and strong retailing. For instance, according to the survey report by Centres for Disease Control and Prevention, around 3400 sudden unexpected infant deaths (SUID) in the region. And in 2019, there were about 1250 deaths in which 1,180 deaths due to unknown causes and 960 deaths due to accidental suffocation. However, Asia Pacific region is expected to witness highest growth rate during the forecast period of global digital baby monitor market due to the increasing disposable income and the rising number of population are the factors boosting the growth of the global digital baby monitor market.
KEY INDUSTRY PLAYERS:
· VTech Communications, Inc
· Motorola Mobility LLC
· Summer Infant (USA), Inc.
· The Holding Angelcare Inc.
· Procter & Gamble
· Owlet Baby Care
· Dorel Juvenile
· Lorex Corporation
· Koninklijke Philips N.V.
KEY INDUSTRY DEVELOPMENTS:
January 2020- Procter & Gamble, Lumi by Pampers has showcased all-in-one connected baby care system in Consumer Electronics Show (CES) 2020. The company combines a smart HD video monitor with an activity sensor and brings the information together in an easy-to-use app.
October 2019- Edgewell Personal Care Company has sell their infant and pet care business to Holding Angelcare Inc for $122.5 million.
By Product Type
By Distribution Channel
- Retail Stores
- Specialty Stores
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia
Global Digital Baby Monitor Market Size