Product Market Definition
Baby monitors are being popular for the new born babies, because parent worries the most about keeping their babies safe. To save from SIDS or cot death, is the leading cause of death of babies between 1 month and 1 year age. Because this reason many parents find the monitors as the best tool for monitoring the new-born babies during their sleep time. There are many different types baby monitors such as Audio monitors, Audio-visual monitors, Wi-Fi monitors and Breathing monitors.
The Audio monitors simply delivers a feed of audio from a pickup base in the baby’s room and sends it to the receiver that you can carry with you. This is one of the simplest and oldest form of baby monitors. The monitors are affordable and widely available too. The Audio-visual monitors are one step ahead from the audio ones. These include a camera that sends both the audio and video to the receiver that you can carry with you. Some models can even send the audio back to the baby’s room. The monitors are quite affordable, widely available and gives more information than the simple audio monitor. Next is the Wi-Fi monitors, these are new generation baby monitors includes a myriad of monitoring options. Options like audio-visual, to room temperature and other features. These can be connected to your smartphones and tablets. These are for parents who all don’t to carry another around. The movement monitors come in several forms. It has a pad that is placed under the baby’s mattress, which detects that is any movement of the baby.
Product Market Overview
The market research report titled- Global Baby Monitor (Audio Only, Audio-Video & Others) Market Outlook, 2026 by Actual Market Research. Historically, the market was growing with a CAGR of 4.60%, the rise of both the parents working outside is the major factor that drove the baby monitor market demand. In 2020 the baby monitor segment accounted a value of USD225 million and by the end of forecasted period the market value is expected to grow with USD 1724.49 million.
Globally, the market holds more than 65% of the share and its still growing. Regions like North America is dominating the market with 40% of the share, followed by Europe. As per research these regions have the highest preference for smart monitors because of the busy schedule of the parents. Other factors that are impacting the growth are increasing internet exposure and the increase in per capita expenditure. Other regions like Asia accounted for less than 20% market share in 2015 and it is expected to grow by an anticipated CAGR of more than 10% by the forecasted period.
Key Market Trends
Today the changing living standards of the new age parents, can’t give much time to their babies, so they keen to buy these types of products for their baby’s safety. The increasing advancement technology is also helping out the monitors to be more advanced and also increasing the market growth rate. These products are specially designed for monitoring the actions of their babies. These monitors come in affordable process, with many different features which useful for monitoring the baby. These monitors have a great future ahead and will also expand the market growth.