Baby Monitor Market Overview:
Baby Monitor Market is growing rapidly as it has become a basic need for parents, who are busy in working. The baby monitors market is projected to grow at the rate of 8.7% during the forecast period 2018 to 2023. Baby monitors are mainly used as a radio system to listen to sounds made by an newborn from distance. This device transmits sound waves between the parents and the new born baby. They baby monitor can also include a camera, through which the parents can see their children. Additionally, it can play songs for the baby and even two-way communication devices are also available in the market. These are mainly used to take round the clock care of the baby. A baby movement monitor uses sensor pads placed under the crib mattress to detect movement, if movement stops for more than 20 seconds an alarm will be triggered.
Baby Monitor Market Size:
Baby Monitor Market was valued at USD 740 million in 2017 and projected to reach USD 932 million by 2022 growing at a CAGR of 5.14% during the forecast period 2017 to 2022.
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Baby Monitor Market Drivers and Restraints:
The increasing births of children around the world is the primary factor driving the growth of the global baby monitors market. The easy communication between working parents and babies is also promoting the growth of the market. Advancements in the technology coupled with the increasing need for safety of kids is another significant factor supporting the market growth. The growth of e-commerce has brought the market closer to the parents. It is expected that the growing advances in technology will help in new initiatives like wireless baby monitors, which will fuel the world market for baby monitors.
Baby Monitor Market Geographical Segmentation:
The Baby Monitor Market is geographically segmented into North America, Europe, Asia-Pacific, and Middle East and Africa. The Asia- Pacific is expected to dominate the global market in the forecasted period, owing to the increasing adoption of these devices among working population. North America is currently leading baby monitor brands due to the concern for health and safety of newborns, which is projected to grow in the forecasted period. Also, APAC is the fastest growing market for the segment of interactive baby monitors globally and anticipated to lead the market in 2023.
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Key Players of Baby Monitor Market:
The key players of Baby Monitor Market are Samsung Electronics Co. Ltd., Dorel Industries Inc., Koninklijke Philips, Motorola, Lorex Technology Inc., Angelcare Monitors Inc., Sony Corporation, Windeln.De Ag, Summer infant Inc., and Hisense Ltd.
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