REPORT HIGHLIGHT
Smart Baby Monitor Market size was valued at USD 1,405.6 Million in 2022, expanding at a CAGR of 8.8% from 2023 to 2030.
A toddler's movements may be seen and tracked in real time using a smart baby monitor, which is an automated audio/video capture device. Both wireless and cable models of these monitors are offered. They have Wi-Fi functionality, two-way audio systems, temperature sensors, high-definition video recording, and smartphone alerts to enhance connectivity. Due to their ability to help parents keep an eye on disease signs and symptoms, these monitors also help in monitoring newborns who have medical issues.
Smart Baby Monitor Market - Market Dynamics:
- Increasing adoption of smart home technologies drives the market growth
- The market is expanding as a result of the growing use of smart home technology. It only makes sense to incorporate a smart baby monitor into a wider smart home ecosystem as more families adopt connected products and the Internet of Things (IoT). The user experience is improved overall since parents can easily access the monitor's functionalities through their smartphones, tablets, or smart speakers. Parents now have more responsibility due to the growing number of nuclear families, which has increased demand for smart infant devices. Baby monitors are an essential piece of devices for parents to keep an eye on their kids when they are out of the house. Thus, this is expected to drive market growth during the forecast period.
Smart Baby Monitor Market - Key Insights:
- As per the analysis shared by our research analyst, the global Smart Baby Monitor market is estimated to grow annually at a CAGR of around 8.8% over the forecast period (2023-2030).
- The Smart Baby Monitor industry is projected to grow at a significant rate due to the growing women working population.
- Based on the product, the audio & video segment is expected to dominate the market over the forecast period.
- Based on the distribution channel, the online segment is expected to grow at the highest CAGR over the forecast period.
- Based on region, North America held the largest market share in 2022.
Smart Baby Monitor Market- Segmentation Analysis:
- The Global Smart Baby Monitor Market is segmented based on product, distribution channel, and region.
- Based on the product, the global Smart Baby Monitor market is segmented into audio & video and tracking devices. The audio & video segment is expected to dominate the market over the forecast period. The segment growth is attributed to the increasing product launch. For instance, in September 2022, the 1080P FHD high-resolution, AI-based SpotCam BabyCam was introduced by Taiwan-based SpotCam, ensuring clear vision both during the day and at night. With the help of its cloud technology, customers can keep an eye on activities from any location at any time using mobile iOS and Android devices and web browsers. The baby tracking function enables the camera to pan and tilt as the infant moves about the room either crawling or walking. SpotCam BabyCam sends out in-the-moment notifications when the baby approaches a predetermined unsafe spot in the vicinity. The camera also has built-in lullabies that may be played manually or automatically according to a schedule. Thereby, driving the segment expansion.
- Based on the distribution channel, the global market is segmented into online and offline. The online segment is expected to grow at the highest CAGR over the forecast period. The two main elements predicted to contribute to the expansion of the online channel in the years ahead are an increase in the proportion of tech-savvy consumers and the range of products offered on online platforms. Additionally, the market is anticipated to rise as a result of the expansion of online shops like Amazon, FirstCry, Baby Shop, and Walmart.
Smart Baby Monitor Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America held a significant market share in 2022 and is expected to continue the same pattern during the forecast period. Smart baby monitors are required in the region to prevent accidents or injuries due to the rising number of working women and their hectic lifestyles and schedules. These monitors enable parents to keep an eye on their children's activities in real time while they are preoccupied with work, which reduces their anxiety and tension. Families in the U.S. who have babies and toddlers spend 50% more on daycare than those who have a preschooler. Due to an increase in dual-income homes nationwide, customers are spending a lot of money on kid safety items like smart baby monitors. Even when they are not physically present in the same area, these devices enable parents to maintain tabs on their children. Thus, driving the regional market growth.
Smart Baby Monitor Market- Competitive Landscape:
To remain competitive in the market the key players adopted various strategies including product launches, acquisitions, partnerships, agreements and others. The key players are Panasonic Corp., Motorola, Inc., Dorel Industries Inc., VTech Communications, Inc., Samsung Electronics Co. Ltd., Netgear Inc., Summer Infant, Inc., Lorex Technology Inc., Arlo Technologies, Inc. and iBaby Labs, Inc. among others.
Recent Developments:
In July 2023, VTech Communications, Inc., a top producer of renowned baby monitors, was named the winner of the "Touch Screen Monitor Product of the Year" category in the 2023 Baby Innovation Awards. The Infant Innovation Awards are an impartial forum for recognizing and showcasing the best forward-thinking businesses, services, and goods in the fiercely competitive infant care sector.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SMART BABY MONITOR MARKET KEY PLAYERS
- Panasonic Corp.
- Motorola, Inc.
- Dorel Industries Inc.
- VTech Communications, Inc.
- Samsung Electronics Co. Ltd.
- Netgear Inc.
- Summer Infant, Inc.
- Lorex Technology Inc.
- Arlo Technologies, Inc.
- iBaby Labs, Inc.
GLOBAL SMART BABY MONITOR MARKET, BY PRODUCT
- Audio & Video
- Tracking Device
GLOBAL SMART BABY MONITOR MARKET, BY DISTRIBUTION CHANNEL
GLOBAL SMART BABY MONITOR MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA