Market Research Report
Next Generation Baby Monitors Market
|Published by||Research Nester||Product code||830888|
|Published||Content info||152 Pages
Delivery time: 1-2 business days
|Next Generation Baby Monitors Market|
|Published: March 1, 2019||Content info: 152 Pages||
The Global Next Generation Baby Monitors market size is expected to increase from USD 599.12 Million in 2017 to USD 1237.84Million in 2025 with a CAGR of 9.55% over the forecast period (2018-2025). It is also expected to grow with a Y-O-Y growth rate of 9.90% in the year 2025 when compared to the previous year.
Rising population of tech-savvy millennial parents along with an increase in preterm births and fetal deaths coupled with growing popularity of "consumer" health, is propelling the growth in global market for next generation baby monitors. The maternal and infant care digital health solutions market is attracting visionary investors backed by the rising trend of integrating artificial intelligence (AI) into health IT and other connected health systems which in turn is driving the next generation baby monitors market during the forecast period.
According to 2017 ILOSTAT database, 48.69 million women were present in the workforce across the globe which is anticipated to impel growth in the next generation baby monitors market across the globe in the forecast period.
Global Audio Baby Monitors segment is expected to grow at a CAGR of 8.04% over the forecast period i.e. 2018-2025. Global Audio Baby Monitors segment is expected to reach USD 273.56 Million by the end of 2025 from USD 147.98 Million in 2017.
The cost related advantage of audio next generation baby monitors will lead to a steady demand from cost-sensitive buyers across the developing regions over the forecast period. The comparative decline in demand due to audio baby monitor's limited set of features offering is attributed to showcase a relative slower growth rate.
Philips and Angelcare are amidst the most prominent audio monitors brand with products such as Philips Avent DECT Baby Monitor and Angelcare Movement and Sound Monitor range.
The North America Next Generation Baby Monitors market size is expected to increase from USD 240.85 Million in 2017 to USD 505.04 Million in 2025 with a CAGR of 9.75% over the forecast period (2018-2025). It is also expected to grow with a Y-O-Y growth rate of 10.10% in the year 2025 when compared to the previous year.
WHO reported that in 2017 there were 27 deaths under the age of five in per 1000 deaths in United States along with 23 infant deaths per 1000 deaths and 15 neonatal deaths in every 1000 deaths across the region, which is expected to impact the next generation baby monitors market on the back of increased expenses by new parents for baby care as well as infant safety.
Additionally, rising awareness regarding technologically advanced devices for greater parental ease as well as rising prevalence of tech-savy parent population is expected to serve as a key factor in the North American next generation baby monitors market during the forecast period.
Moreover, growing number of parent population demanding for child surveillance from workplaces across the region with rising number of working parents will drive the next generation baby monitors market sturdily.