Published: Dec, 2018
The global baby monitors market is highly consolidated in nature and likely to remain competitive over the course of forecast period from 2018 to 2026. Transparency Market Research (TMR) found that the five prominent companies operating in this market holds maximum share of 60% in the global baby monitors market. Moreover, Motorola Solutions, Inc. alone account for 19.8% share in the overall market over the said period. The manufacturers are highly focused toward research and development activities in order to expand their footprint across the globe. The manufacturers are also adopting advanced technology like senor and wearable technology to attract more consumers. In addition, increasing trend for internet-of-things are another factors augmenting growth of this market in near future.
The revenue generated by the global baby monitors market stood at US$876.8 mn in 2015 and is expected to touch US$1,291.8 mn by 2024. The global baby monitors market likely to expand at CAGR of 4.4% during the course of forecast period from 2018 till 2026.
Wireless baby Monitors of Connectivity Type to Drive Market Growth
On the basis of connectivity type, Wireless baby monitoring segment account for large share in the global baby monitors market and hold maximum share in 2015 too. Greater portability and easy connectivity are another factor supplementing growth of this market in upcoming years. The baby monitoring account for wireless technology and likely to hold maximum share in the overall market. On geographical point of view, Asia Pacific and Rest of the World (RoW) owing to emerging opportunity and growth in the region. Increasing demand for the baby monitors in the country like Japan, China, and India due to rising disposable income of population is another important factor propelling growth of this market in coming years.
Increasing Expense on Baby to Boost Global Baby Monitors Market
The growing number of working parents and nuclear family likely to increase number of daycare organization and professional caretaker around the globe. This likely to spur the demand for technical advanced baby monitors market in coming years. Also, growing trend for online shopping, increasing expenditure on baby products are some of the parameters encouraging growth of this market. Moreover, advancement in technology are another factor majorly contributing toward growth of the baby monitors market. Also, rising trend for smart baby monitoring applications are another factor boosting growth of the baby monitors market in near future.
Decline in Birth Rate to limits Baby Monitor Market Growth
In contrast, increasing sedentary lifestyle, growing stress level among the population and falling rate of birth likely to limit growth of the global baby monitors market. However, increasing awareness about the baby monitoring products and rising baby concern are one of the important factors driving growth of this market in near future. According to Forbes, rate of birth in U.S. has decline in 2013. Additionally, the safety concern for children related to baby monitoring are posing major challenges to the market participants. However, rising adoption of the baby monitors system is developing and emerging countries to spur growth of the baby monitors market.
This review is based on the findings of a TMR report titled “Baby Monitors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
For the study, the market has been segmented as follows:
Global Baby Monitors, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East and Africa (MEA)
Global Baby Monitors Market, by Product Type
- Audio Baby Monitor
- Fixed Video Baby Monitor
- Pan& Tilt Baby Monitors
Global Baby Monitors Market, by Connectivity Type
- Wired Baby Monitors
- Wireless Baby Monitors
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