DUBLIN, Jun 22, 2021--(BUSINESS WIRE)--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.
The outbreak of the novel coronavirus disease severely impacted the Smart Baby Monitor market. Several containment measures were undertaken by governments that negatively impacted the electronics sector globally. Moreover, the Covid-19 squeezed household finances, thus impacting the spending power of the consumers globally.
The pandemic led to supply chain disruptions and economic challenges that severely impacted the smart baby monitory device market, especially impacting the production of smart baby monitor hardware components. These disruptions have impacted the revenue streams of the players operating 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 parents 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 Technology
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/knqdd3
View source version on businesswire.com: https://www.businesswire.com/news/home/20210622005763/en/
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