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A comprehensive overview of the Baby Monitor market is recently added by UnivDatos Market Insights to its humongous database. The Baby Monitor report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Baby Monitor market. The Baby Monitor report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Baby Monitor at the global and regional levels. The Global Baby Monitor Market is expected to grow at a CAGR of 6.2% from 2021-2027 to reach US$ 1,970 million by 2027.
Market Overview
The market is expected to witness a boost on account of a rise in the GDP per capita, globally. As per the World Bank, GDP per capita worldwide increased from US$ 10,249 in 2015 to US$11,433 in 2019. Moreover, Rising parents' concern for their child’s/ infant’s health is a key factor, demanding for the baby monitor. As per the United Nations, the infant mortality rate of the world in 2019 was 28.2 (The infant mortality rate is the number of deaths of infants under one-year-old per 1,000 live births). Moreover, the projected estimate for 2020 was 30.8.
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Furthermore, rising awareness about the benefits of baby monitors coupled with emerging parent's concern about SIDS, globally is also contributing to the growth of the baby monitor market. As per CDC, Each year, there are about 3,400 sudden unexpected infant deaths (SUID) in the United States. These deaths occur among infants less than 1-year-old and have no immediately obvious cause.
COVID-19 Impact
In the era of COVID-19, Hospitals, other healthcare facilities, and home healthcare facilities are using baby monitors for remote monitoring of patients as baby Monitors are helping patients to connect with doctors and family members through the COVID-19 situation. Also, Numerous appeals have been issued for people to donate baby monitors to hospitals as a way for nurses to communicate with Covid-19 patients. Healthcare workers are looking for old but working, monitors they can use to communicate with patients without completely interacting with them. Philips has donated 3,200 baby monitors in collaboration with the online shopping site, bol.com. These are being sent to hospitals where they are used to communicate with COVID-19 patients. Also, Bol.com received a similar request from a Dutch hospital.” More than 1,800 of these monitors have already been delivered to hospitals across the Netherlands and Belgium.
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Global Baby Monitor Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Application, the market is primarily bifurcated into
The video segment dominated the application type segment and gathered 86.4% of the Baby Monitor Market in 2020. Moreover, the market is expected to grow at 6.4% CAGR to reach US$ 1,733.6 million by the year 2027.
By Connectivity, the market is primarily segmented into
Based on the connectivity, the wireless segment d accounted for the largest share and is expected to grow at 6.3% CAGR during the forecast period 2021-2027. In 2020, the wireless segment generated a revenue of US$ 817.9 million.
By Distribution Channel, the market is primarily segmented into
Based on the Distribution Channel, the Retail Store segment d accounted for the largest share and is expected to reach US$ 681.2 million by 2027. However, the E-Commerce segment is expected to witness the highest growth of 8.3% in the forecast period.
Baby Monitor Geographical Segmentation Includes:
Based on the estimation, the North America region dominated the Baby Monitor Market with almost US$ 476.9 million in revenue in 2020. At the same time, the European region is expected to grow remarkably with a CAGR of 6.8% over the forecast period owing to the entrance of new players in the region. In 2021, Taiwan-based smart baby monitor startup Cubo Ai announced a business expansion plan to the European market.
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The major players targeting the market includes
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Baby Monitor Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
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