Research Nester published a report titled "Smart Baby Monitor Market: Global Demand Analysis & Opportunity Outlook 2028" which delivers a detailed overview of the smart baby monitor market in terms of market segmentation by product, by connectivity, by application, by distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter's five force model.
A smart baby monitor is an electronic consumer good that is used for constant monitoring of babies, delivers real-time information about the babies as they are fitted close to them, and can offer live video, audio, location, and track the activities of the baby while broadcasting them straight to the parents over the smartphone apps.
The smart baby monitor market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by product, application, connectivity, distribution channel, and region. Among the segmentation by product, the audio & video segment is projected to dominate the global market as a result of the convenience it provides to parents through live tracking of the actions of babies. Some market players of this industry have also launched baby monitors equipped with lullabies to provide sleep comfort to babies.
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Among distribution channels, the offline segment is projected to hold the major market share. This growth is attributed to the rising penetration of hypermarkets and supermarkets around the world,provision of personal services, easy returns, and physical authentication of products before buying. The online segment is expected to grow at a fast pace owing to the convenience it offers to the buyers.
Regionally, the smart baby monitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The smart baby monitor market in the North-America region is expected to hold a major market share on account of the growing awareness about smart baby monitors, increased spending on baby products, expansion in online trading. Major demand is expected from the US and Canada.
Europe is expected to be the second-largest market for smart baby monitors owing to the growing population, the rising spending power of parents, the presence of dominating market players, expansion of e-commerce platforms, and growing awareness regarding smart baby monitors.
The emergence of innovative devices by utilizing technology to fuel the adoption of smart baby monitors among consumers
Product innovations and technological advancements are enhancing the devices with escalated benefits such as real-time tracking and communication between parents and babies made easy. This is the key factor expected to foster the growth of the market.
Additionally, a rise in disposable income, increasing commercialization of these devices, online spending, growing expenses on baby products, an increasing number of professional baby care facilities, and awareness related tosmart baby monitors is estimated to drive the market.
However, safety & security issues concerning these devices and busy life schedules of individuals, leading to a lower fertility rate, are also anticipated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the smart baby monitor market which includes company profiling of Motorola Mobility LLC, Cubo AI, Safety 1st, iBaby Labs, Inc., Miku Inc., Summer Infant (USA), Inc. (NASDAQ: SUMR), Lorex Technology Inc., Medisana GmbH, Angelcare Monitor Inc.
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