Published Date : 26 Jul 19 | Views: 22 | Industry : Miscellaneous
Technological applications such as the Internet of Things (IoT), wearable technology, sensors, and mobile technology are some of the features of baby monitors, which are attracting the consumers to choose it than any other alternatives. Innovation in the product such as noise detection, video recording, and image capturing is likely to create a positive impact on the global market for baby monitor. Some of the advancements in technologies such as checking on room temperature, humidity of babies’ room and their movements with the help of Wi-Fi technology are triggering the market growth.
Increasing spending capacity on baby products and Governments’ regulations for child care and safety are some of the factors which propelling the growth of the market. However, increasing stress level, pollution, falling birth rate and changing lifestyle are some of the factors, which are likely to hamper the growth of global Baby Monitor market.
North America is likely to acquire a larger market share in the global Baby Monitor market. This is because of huge presence of key market players in the region. Asia Pacific is also witnessing a remarkable growth during the forecasted period. Growing nuclear families and increasing spending capacities in developing countries like China and India are fuelling the growth of the global Baby Monitor market in Asia Pacific region.
Manufacturers are introducing a new range of products driven by technology. The major market participants functioning in the market are Samsung Electronics Co. Ltd, Summer Infant, Inc., Sony Corporation, Platinum Angelcare, Koninklijke Philips N.V., Vtech, Fisher Price, Owlet Baby Care, Evenflo Company, Inc., Tomy International, Delta Enterprise Corp., and Cocoon Cam.
Baby Monitor market is primarily segmented into two segments - by connectivity and type. On the basis of type, the market is segmented into Video, audio, wearable, Wi-Fi, prenatal and movement. Wi-Fi segment is likely to grab a significant market share followed by Other segments. Wearable technology is highly popular among the tech-savvy people, therefore, it is expected to the increasing the growth of Wearable segment in the years to come. Audio and Video Baby Monitor segments are also prophesied to notice an average growth rate in the predicted period. By connectivity, the Baby Monitor market is segmented into wireless and wired segments. The wireless segment is likely to grow outstandingly in the forecasted period owing to technological development in the sector.