Baby Monitors Market Outlook:
The Global Baby Monitors Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
A baby monitor, also known as a baby alarm, is a radio system used to remotely listen to sounds made by an infant. An audio monitor consists of a transmitter unit, equipped with a microphone, placed near to the child. It transmits the sounds by radio waves to a receiver unit with a speaker carried by, or near to, the person caring for the infant. Some baby monitors provide two-way communication which allows the parent to speak back to the baby (parent talk-back). Some allow music to be played to the child. A monitor with a video camera and receiver is often called a baby cam.
The global Baby Monitors Market is primarily driven due to growing awareness about technologically advanced products for babies and infants among parents coupled with the increasing globalization, urbanization, and changing lifestyles.
In the last five years, various economies in the world have witnessed a rapid growth in the number of working parents. Moreover, rising concerns regarding the safety and security of infants, are also contributing a lot to the growth of the baby monitor market. In addition, rapidly increasing online retailing is also a major driving factor for the baby monitor market growth.
However, declining birth rates and safety concerns associated with these products can act as major restraining factors to market growth. The declining birth rate is a key challenge faced by manufacturers of baby monitors. A sedentary lifestyle and high-stress levels are the main causes of the low birth rate.
Urbanization, smaller household, and bad work-life balance have led to an increase in the stress level among people. Low fertility is observed especially in the Western European countries, Japan, Canada, Russia, and Poland which limits the market growth.
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By type, the global Baby Monitors Market is segmented into audio baby monitors and AV (Audio and video baby monitors). In 2018, audio and video baby monitors product type will account for the largest share in the baby monitors market and is expected to dominate the market during the forecast period, due to increased demand for smart baby monitors.
There are some baby monitors which provide two-way communication in order to allow the parent to communicate with the baby.
Baby cams are also booming in the current scenario which is getting fame in the market as a result of being equipped with a video display in order to look after the infant. Modern parents are now having the option to use a baby monitor to listen to or even watch their babies from afar.
For instance, iBaby Monitor M6S by iBaby Labs, Inc. is a Full HD 1080p video baby monitor with Two-Way Audio speakers (Talk & Listen to your baby). It also has temperature & Humidity sensors and a 360° pan & 110° tilt (To view every angle of your baby’s nursery). In addition, it has a 2.4 GHz Wi-Fi frequency and is compatible with most Apple and Android smartphones and tablets. Parents can also add MP3 music or connect to iTunes or Google library.
By distribution channel, the global baby monitors market is segmented into offline distribution channels and online distribution channels. In 2018, offline distribution accounted for a market share of ~90% in the global market. However, online channel is expected to witness double-digit growth during the forecast period.
By geography, the global Baby Monitors market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
North America holds a significant market share, mainly due to rising trend of nuclear families, increasing spending capacity of people, and growing awareness of the advantages provided by these devices. The growth trend is followed by North America and further by Europe as far as market share is concerned. This growth is mainly attributed to the advancement of these devices and rising personal equity investment specifically in the electronics sector in Europe. Furthermore, Asia Pacific is also anticipated to witness considerable growth owing to changing lifestyles, increasing awareness in parents regarding childcare, rising per-capita income, and strong retailing.
In Europe, there has been a shift in trend from audio baby monitors to video baby monitors in last five years. These baby monitors enable employed parents to monitor their baby or track baby’s movements, even from their workplace. Some models are also equipped with advanced features such as movement and breathing sensors and are also capable of sending warning signal in case of any adverse situation.
Product launch is one of the prominent growth strategies adopted by the players operating in the market. For instance, Luvion Premium Baby products (Netherlands), a leading player in the Europe baby monitor market, introduced a compact size video baby monitor with advanced features such as room temperature display, digital full HD sound, and high image quality camera with 5m of night vision.
Emerging countries, such as India, China, Brazil, South Africa, and Thailand, offer lucrative opportunities for baby monitors market, owing to the large population, increase in the number of women workforce, improved level of education, and rise in disposable income. Moreover, changes in the one-child policy in China would drive baby monitors market in the region.
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Key players are adopting strategies such as mergers and acquisitions, partnerships, regional expansion, and product launches to stand out as strong competitors in the market.
Global Baby Monitors Market is a competitive market with the presence of various global and regional players in the market. The major players include Angelcare, Dorel Industries (Dorel Juvenile Group), Koninklijke Philips, Lenovo (Motorola Mobility), Samsung Electronics, and VTech Holdings. Other key players in the market include iBaby Labs, NETGEAR, Summer Infant, Nanit, Hisense, Mayborn Group, Owlet Baby Care, Mattel, and others.
In 2018, Nanit, a new entrant in the market launched The Nanit Plus smart baby monitor which is available in two variants: wall mount and freestanding floor stand. It offers 24/7 HD live streaming with night vision and zoom to get in close. Background audio lets you hear baby, even when your phone’s screen is off. It also has a soft glow nightlight and smart sensors with real-time motion and sound notifications.
In 2016, Mattel, a toy manufacturing giant based in Segundo, California, acquired San Francisco-based Sproutling, which has developed a health-sensing wearable device for babies.
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