Dublin, June 23, 2021 (GLOBE NEWSWIRE) -- The "Smart Baby Monitor Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The smart baby monitor market is evaluated at US$930.800 million for the year 2019 and is projected to grow at a CAGR of 7.92% to reach the market size of US$1,586.974 million by the year 2026.
Recent technological advancements have made it possible to track an infant's movements through an application; also it enables users to use it as a camera device.
The rising number of nuclear families and working parents is a major driving factor in the smart baby monitor market. These product solutions facilitate real-time communication between the parents and children when they are away at work. Additionally, the growing penetration of smartphones is further thrusting demand in the market as it allows parents to communicate with their children remotely through smart devices.
Moreover, changing lifestyle patterns and rising disposable income are further augmenting the demand for smart baby monitor products. Further, the shifting trends towards commercialization and online retailing are expected to propel growth in the smart baby monitor market.
Product innovation through the utilization of new technologies and IoT is further projected to fuel growth in the market. Novel technological features such as portability, efficiency in connectivity, and WLAN connection are features driving the demand growth in the smart baby monitor market.
However, the declining birth rate due to changing lifestyles associated with economic and social affluence is expected to hamper growth in the smart baby monitor market. Moreover, safety concerns associated with the smart baby monitor solutions can be a challenge to the manufacturers of the smart baby monitor industry.
Video-based Smart Baby monitor segment to show promising growth
By material type, the Smart Baby Monitor market has been classified into Video, Audio, Tracking devices. The Video-based segment is anticipated to propel at a noteworthy CAGR until the end of the forecast period.
Video cameras allow parents to keep a check on their child's status through live videos, smartphones, and sensors, allowing them to monitor their children more efficiently and securely when away from home.
Furthermore, video monitoring devices assist in checking the baby's feeding schedule, nap time, and baby's activity through an integrated automatic mobile notification, audio communication systems, and temperature sensors. Whereas, technological advancements such as cry detection, audio storage, and monitoring technologies are further augmenting the demand in the audio segment.
Wireless-based Smart Baby monitor segment to show promising growth
Moreover, by connectivity, the market has been segmented by wired and wireless. The wireless segment holds a dominant market share in the smart baby monitor market owing to the growing number of smart wireless devices, availability of high-speed connectivity, and growing wireless market.
Moreover, enhanced mobility features offered by the smart wireless baby monitor solutions as compared to the wired ones are further expected to drive demand growth in the market. However, piracy concerns and high costs may hinder the growth of wired smart baby monitor products.
Commercial Segment to hold a significant market share
By application, the classification of the market has been done as Home/Family and commercial. The commercial segment is further segmented into daycare and hospitals. The commercial segment is projected to hold a significant share in the market until the end of the forecast period.
Rising corporate and private daycare centers are estimated to drive growth in the smart baby monitor market. Increasing women's employment in organizations is forcing parents to put their babies in private daycare centers. Similarly, initiatives are been taken by corporates to establish in-house daycare centers to facilitate ease and convenience to the working parents. Therefore, such initiatives by organizations bolstering growth in the smart baby monitor market.
Participation by market players
The market players are actively participating in form of increased investments in R&D and are taking collaborative efforts for launching new products to expand their market share and meet the growing end-use requirements.
For instance, Recently at CES 2020, P&G through its subsidiary brand Pampers unveiled Lumi, an all-in-one connected care system targeting the millennial parent's customer segment. Similarly, Angelcare launched a new smart baby monitor product solution, the Angelcare baby breathing monitor. The product aims to provide reliable and real-time feedback on children's sleep status.
Besides, the product comes with a camera, monitor, and an innovative breathing sensor pad.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Smart Baby Monitor Market Analysis, by Volumetric capture Type
5.2.1. Camera Unit
5.2.2. Processing Unit
6. Smart Baby Monitor Market Analysis, by Application
6.2. Sports Events and Entertainment
6.4. Education and Training
7. Smart Baby Monitor Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.3. South Africa
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Lorex Tecnology
9.2. Samsung Electronics Co., Ltd.
9.3. Dorel Industries Inc.
9.4. Motorola, Inc.
9.5. Netgear, Inc.
9.6. iBaby Labs, Inc.
9.7. VTech Holdings
9.8. Pampers (P&G)
9.9. Koninklijke Philips N.V
9.10. Angelcare Monitors Inc
For more information about this report visit https://www.researchandmarkets.com/r/5agxpm
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