Published Date: 2019-07-24 | Pages: Ongoing | Tables: Ongoing | Report ID: 7326
Industry: Electronics & Semiconductor
The increasing number of a nuclear family, rising working parent’s population, and government initiatives towards child safety measures are the important factors for the gigantic growth of day-care centers. To get real-time information about a child’s activities while being away from home is the key factor prophesied to trigger the global Baby Monitor market. Increasing disposable income in developing economies is also fuelling the market growth.
Technological development in the consumer goods sector associated with child care and safety has inspired manufacturers to develop products like Baby Monitor and smart feeding kit. For instance, a new product called Cubo AI baby monitor has launched in July 2019 operates on Artificial Intelligence. It is powered by face detection technology which alarms whenever a child’s face is covered. This Baby Monitor is easy to operate with Wi-Fi connectivity and it captures photos automatically. Additionally, it includes traditional security camera features such as 18- hours of video playback and zone alert.
Rising Disposable Income to Boost the Growth of Global Baby Monitor Market
Increasing disposable income, online shopping, and increasing expenditure on baby products are predicted to expand the global Baby Monitor market in the years to come. Also, technological innovation and smart baby monitoring applications are channelizing market growth. Manufacturers are focusing on product differentiation, which is creating huge opportunities for the growth of the market.
Smart baby products are trending amongst the working parents. WIFI and video technology in the monitor segment drives the demand for the global Baby Monitor market. Apart from this Baby Monitor has unique features like noise detection and mobile communication, which is likely to further expand the growth of the global Baby Monitor market. Increasing innovations in healthcare sector is also likely to be the driving factor for the growth of the global Baby Monitor market.
● Wireless Baby Monitor segment to grab remarkable share in the global Baby Monitor market
● Increasing demand for high-end Baby Monitor devices in developing economies such as China and India is boosting the growth of market in Asia Pacific region
● Governments across the globe are is emphasizing on child safety measurement
● Introduction of cutting edge technology in Baby Monitor to help North America grab substantial share
● Increasing population of working women to drive the growth of the worldwide Baby Monitor market
Wireless segment is capturing the major share of the market because of easy connectivity with greater portability. By type, video and audio segments are estimated to record a steady growth rate in the forecasted period. On the other hand wearable segment in type segment is also likely to grab significant share in the market because of increasing population of tech savvy consumers.
North America is likely to hold a largest share of the global Baby Monitor Market owing to the presence of key market players in the region. It is foreseen to rise the growth of Baby Monitor market in Asia Pacific region. The increase in disposable income and growing nuclear families are the two important reasons for propelling the global Baby Monitor market growth in China and India.
Philips Avent’s uGrow is gaining popularity amongst the working parents
Recently, Philips Avent has launched a new medical app uGrow, which monitors every movement and Growth of a child. The main feature of uGrow application is to keep track on new-borns sleeping and feeding patterns as well as to record improvement in height and weight. uGrow is trending in working parents owing to its significant features like timely expert advice and doorstep doctors’ visits.
The major market participants functioning in the market are Summer Infant, Inc., Vtech, Sony Corporation, Platinum Angelcare, Samsung Electronics Co. Ltd, Koninklijke Philips N.V., Fisher Price, Owlet Baby Care, Evenflo Company, Inc., Delta Enterprise Corp., Tomy International, and Cocoon Cam.
In order to analyse the strategies of competitors it is important to have accurate and complete data. In QYR Consulting we have surveyed clients from different regions to regulate data delivery time, percentage of errors, and competitor’s promo activity. Apart from analysing the pricing data of competitors, the company has also done in-depth study of historical data for competitive pricing analysis. Various pricing tools have been used to offer precise pricing recommendations, to improve accuracy, and to process huge amount of complex data.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
QYR Consulting brings to you a list of in-depth reports about the electronics and semiconductors industry. Our effort focuses on streamlining operations for our clients through our insightful data. The evolution of electronics and semiconductors at a breathtaking speed is poised to change businesses as they push for shorter technology life cycles. We assess how these factors are likely to bring in a change in product development.
We promise to deliver unquestionable market insights that cover all geographies. Our unique approach is aimed towards addressing your challenges and helping you find optimum solutions to rise above the cutthroat competition with the best laid plans. We look forward to addressing strategic challenges by developing your growth plans with the help our well-researched reports.
Request for data as per your requirement
Get specifications suitable to your business
Receive an in-depth and unique understanding of the subject matter
Acquire insight into specific area of the industry