Smart Baby Monitor Market Insights: Growth Drivers and Challenges
Smart Baby Monitor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Smart Baby Monitor Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, June 20, 2024 /EINPresswire.com/ -- The smart baby monitor market1 has shown robust growth recently, with projections indicating an increase from $1.56 billion in 2023 to $1.71 billion in 2024, at a compound annual growth rate (CAGR) of 9.5%. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. This growth is attributed to the expanding presence of online retailers, increasing urbanization, lifestyle changes, rising dual-income households, and the growth of nuclear families.
Rising Popularity of Smart Baby Monitors Drives Market Growth
The surge in the smart baby monitor market is driven by factors such as the growing population of working parents and a heightened focus on holistic child development. These monitors offer real-time remote monitoring and alerts, allowing parents to balance work commitments while ensuring their child's safety and well-being. According to the U.S. Bureau of Labor Statistics, in 2023, nearly 91.2% of households with children under 18 had at least one employed parent, underscoring the demand for solutions that enable remote monitoring and care.
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Key Players and Market Trends
Major companies like Samsung Electronics Co. Ltd., Panasonic Corp., and Motorola Inc. are innovating with advancements in camera technology and artificial intelligence (AI) integration. For example, VTech Holdings Limited launched the V-Care VC2105, leveraging local AI to enhance safety and provide sleep analytics, addressing parental concerns about infant well-being.
Trends in the Smart Baby Monitor Market
Innovative product launches and strategic collaborations are key trends shaping the market. Advancements in camera technology, coupled with AI capabilities, are enhancing monitoring precision and functionality. These developments cater to the growing preference for smart, connected nursery solutions among tech-savvy parents.
Segments
• Product: Audio And Video, Tracking Device
• Connectivity: Wired, Wireless
• Distribution Channel: Hypermarket Or Supermarket, Wholesalers Or Distributors, Specialty Stores, Independent Stores, Online Retailers, Other Sales Channel
• Application: Home or Family, Commercial, Daycare, Hospitals
Regional Insights: North America Leading, Asia-Pacific Emerging
North America dominated the smart baby monitor market in 2023, driven by high consumer awareness and technological adoption. Asia-Pacific is anticipated to witness the fastest growth during the forecast period, supported by rising disposable incomes and increasing urbanization.
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Smart Baby Monitor Global Market Report 20242 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Smart Baby Monitor Global Market Report 2024 by The Business Research Company3 is the most comprehensive report that provides insights on smart baby monitor market size, smart baby monitor market drivers and trends, smart baby monitor market major players, competitors' revenues, market positioning, and market growth across geographies. The smart baby monitor market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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