From 2024 to 2034, the smart baby monitor market is projected to grow at a compound annual growth rate (CAGR) of 8.50%. According to projections, the market value will rise from US$ 1,474.60 million in 2024 to US$ 3,334.10 million in 2034. In 2023, the smart baby monitor market was estimated to be worth US$1,402.40 million.
A smart baby monitor is an electronic device that tracks a baby’s movements and other activities. The smart baby monitor market is expanding due to technological advancements, particularly in video and Wi-Fi technology. The price of electronic devices is reduced by market competition, which acts as a direct driving force for the expansion of the smart baby monitor industry.
The growing number of working parents, nuclear family and improved lifestyle has opened up new opportunities for several business segments, especially in baby care products, such as a smart baby monitor. Also, online shopping and growing spending on baby products help smart baby monitors to grow in the market. Smart baby monitor market also faces challenges from security point of view.
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Smart Baby Monitor Market: Market Dynamics
The increasing number of professional baby care agencies are likely to increase the smart baby care market due to the higher adoption rate of smart baby monitors. Growing awareness about baby safety and product innovation are likely to boost the smart baby monitor market.
Technological advancement and product features to premiumization is one of the factors majorly contributing to the growth of the smart baby monitors market. However, safety concerns associated with smart baby monitors and declining birth rate are among the challenges that limit the growth of smart baby monitors. Hacking of devices is the primary concern for parents which acts as a barrier to the growth of smart baby monitor market.
Smart Baby Monitor Market: Recent Developments
In 2019, Cubo AI expects to launch baby monitor powered by artificial baby monitor. This Cubo AI is able to detect whether baby’s face is intentionally covered and accidentally covered and as a security measure, it sends immediate alert to the parents if it is accidentally covered.
In 2017, Motorola’s Smart Nursery launched alert sensor, 7” touch screen, smart camera, connected scales, humidifier and dream machine with in-depth analytic tracking, a rechargeable camera, digital scrapbook and video diary.
Smart Baby Monitor Market: Regional Outlook
The smart baby monitor market is expected to register a healthy growth across all the geographies during the forecast period. The daycare and professional centers are growing across the globe and likely to drive the market for smart baby monitors.
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Additionally, Asia Pacific is projected to showcase steady growth in the global smart baby monitor market due to the growing female working population, hectic life style, growing concern for child safety among parents and rising income level of individuals.
Emerging countries, such as China, India, Brazil, South Africa, and Thailand are the key markets with immense opportunity for smart baby monitor market. Rising number of working parents, increasing adoption rate of baby care products and technological advancement has led the market forward. North America holds the highest market share for smart baby monitor owing to prevalence of nuclear family culture and high spending on baby care products.
Smart Baby Monitor Market: Key Players
Some of the key players operating in the global smart baby monitor Market are Motorola, Safety 1st, Levana , Summer Infant, Philips , Samsung, Infant Optics, Snuza , Graco, Angelcare, WiFi Baby, Lorex, Withings, iBaby, Vtech, iBaby Monitor, Nanit Sleep System, Eufy SpaceView Baby Monitor, Panasonic, Arlo Baby and others.
The research report presents a comprehensive assessment of the smart baby monitor market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies for smart baby monitor market.
The research report of smart baby monitor provides analysis and information according to market segments such as geographies, product type, price, and application.
The smart baby monitor market report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply Demand
- Current Trends/Issues/Challenges
- Competition Companies involved
- Value Chain