Baby Monitor Market to Reach $3.1 Billion, Globally, by 2034 at 7% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Baby Monitor Market by Product Type (Audio and Video), Connectivity (Wired and Wireless), Distribution Channel (Supermarkets/Hypermarkets, Specialty Baby Stores, Pharmacies, Department Stores, Online Sales Channel and Others): Global Opportunity Analysis and Industry Forecast, 2024-2034". According to the report, the baby monitor market was valued at $1.5 billion in 2023, and is estimated to reach $3.1 billion by 2034, growing at a CAGR of 7.0% from 2024 to 2034.
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Prime determinants of growth
A significant driver boosting the demand for baby monitor market is the increase in number of working parents worldwide. As more parents enter the workforce, there is an increased demand for reliable childcare solutions, including advanced baby monitors equipped with features such as video monitoring and remote access. These devices provide working parents with reassurance by allowing them to monitor their infants' activities and safety in real-time, even when they are not physically present. Moreover, technological advancements in connectivity and integration with smart home systems have significantly enhanced the functionality of baby monitors, which has thus made them essential tools in modern parenting. In addition, the rise in awareness regarding child safety and the convenience offered by these monitoring solutions further contribute to baby monitor market growth. Furthermore, manufacturers are continually innovating to meet these evolving demands, developing products with AI-driven features and health monitoring capabilities to sustain the competition in the expanding baby monitor market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2034 |
| Base Year | 2023 |
| Market Size in 2023 | $1.5 billion |
| Market Size in 2034 | $3.1 billion |
| CAGR | 7.0% |
| No. of Pages in Report | 306 |
| Segments Covered | Product Type, Connectivity, Distribution Channel, And Region. |
| Drivers |
|
| Opportunities |
Growth in e-commerce and online retail channels |
| Restraint |
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The video segment held the highest market share in 2023
Based on the product type, the video segment held the highest market share in 2023 owing to its ability to provide visual reassurance to parents. Unlike audio-only monitors, video monitors offer real-time video feeds, which allows parents to observe the activities, facial expressions, and surrounding environment of the baby directly. The visual capability enhances parental confidence and peace of mind, particularly during nighttime or when parents are away. Moreover, the rise in preference for comprehensive monitoring and the desire for constant visual contact with infants drive the higher adoption rates and market share of video monitors.
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The wired segment held the highest market share in 2023
Based on the connectivity, the wired segment held the highest market share in 2023. Wired baby monitors are highly sought-after in the market owing to their reliability and consistent performance. These monitors provide a stable connection with reliable audio and video quality, which ensures uninterrupted monitoring. Reliability is particularly valued in settings where continuous and clear monitoring is essential, such as healthcare environments or for parents who prioritize constant oversight of their baby's activities. Wired monitors offer peace of mind as they eliminate concerns related to signal interference or battery life, which has thus made them a preferred choice for many caregivers seeking dependable monitoring solutions.
The department stores segment held the highest market share in 2023
Based on the distribution channel, the department stores segment held the highest market share in 2023. Department stores offer a wide range of options, which allows customers to compare features and prices easily. They often provide hands-on demonstrations, giving parents confidence in their purchase. In addition, department stores typically have knowledgeable staff to assist with questions and recommendations. Many parents also prefer the convenience of purchasing baby monitors along with other baby essentials in one trip. Furthermore, department stores frequently run promotions and offer loyalty programs, which has made them an attractive shopping destination for baby products.
North America led the market share in 2023
Based on region, North America held the highest market share in terms of revenue in 2023. The prevalence of dual-income households and busy lifestyles necessitates reliable childcare solutions, such as baby monitors as it offers constant supervision and peace of mind. In addition, increased awareness regarding child safety and the desire for advanced parenting technologies drive the adoption of baby monitors with features such as video monitoring, smart connectivity, and health tracking capabilities. The strong emphasis of North America on technological innovation and consumer electronics further fuels demand, with manufacturers continuously introducing new and improved models to cater to evolving preferences. Moreover, vigorous retail infrastructure, including online platforms and specialty baby stores, provides easy access to a wide selection of baby monitors, contributing to their widespread adoption and high demand in North America.
Players: -
- Lenovo Group Limited
- Samsung Group
- Hanwha Corporation
- Panasonic Holdings Corporation
- Koninklijke Philips N.V.
- Infant Optics
- Dorel Industries Inc.
- Kids 2, Inc. (Summer Infant, Inc.)
- VTech Communications Inc.
- Anker Technology (UK) Limited
The report provides a detailed analysis of these key players in the global baby monitor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Industry Dev
- In October 2022, Bonoch introduced a new video baby monitor that features two HD cameras that transmit data to a 7-inch split-screen monitor to provide parents with devices to monitor multiple angles simultaneously, enhancing convenience and surveillance capabilities for families with multiple children.
- In September 2022, EZVIZ launched the AI-powered EZVIZ Baby Monitor 1, designed for nursery versatility with its compact, portable, and battery-powered features to expand its product portfolio. The innovative device integrates seamlessly into any baby room, offering caregivers convenient monitoring capabilities from various locations.
- In October 2021, VTech launched LeapFrog baby monitors, which features advanced attributes such as adaptive night lights, high-definition video, color LCD screens, color night vision, and a 360-degree pan and tilt camera with zoom. The launch was aimed at expanding the market presence and product range of VTech.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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