Global Next Generation Baby Monitors Market Growing at A CAGR of 9.5% During 2019-2026

The global next generation baby monitors market was valued at USD 600.2 million in 2018 and is expected to reach USD 1,303.1 million in 2026, growing at a CAGR of 9.5% during the forecast period.

Baby monitors, which is also known as baby alarms, are the remote activity tracker that records baby’s activities and allows parents to access it remotely. The baby monitors are available in two types such as audio monitors and video monitors. The audio monitors consist of a microphone and a transmitter which allows two-way communication between the baby and the parents. On the other hand, the video monitors, also known as baby cam, allows to track and view baby’s activities remotely and allows to communicate two-ways.

Video baby monitors are available with different features such as LED lights, high-performance camera in low lights and built-in lullabies. Baby monitors can be connected to smartphones via wi-fi or Bluetooth to provide real-time baby’s activity tracker. These next generation baby also monitors send an alert message whenever the problem is detected.  

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The growth of this market is primarily driven by an increase in preterm births and deaths and rising population of tech-savvy parents. The growing popularity of consumer health is contributing to the growth of this market to some extent. In addition, the growing trend of artificial intelligence is likely to boost the growth of next generation baby monitors market. However, sedentary lifestyle leading to the declining birth rate and safety concerns related to the baby monitors might hamper the growth of this market to some extent during the forecast period. The wireless baby monitor segment expected to dominate the market throughout the forecast period

Based on product type, the global next generation baby monitors market has been segmented into audio baby monitors and video baby monitors. The audio baby monitors segment accounted for approximately 62% of the share in the global next generation baby monitors market in 2018.

The growth of this market is attributed to the growing adoption of audio monitors which can be attached to baby’s clothes to track the movements, respiratory and sleep activities. In addition, the increasingly growing popularity or nuclear families and the growing trend of adopting nanny services also contribute to the growth of this market. Based on the connectivity, the wireless baby monitors segment is expected to grow at a fastest CAGR throughout the forecast period

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Based on connectivity, the market has been segmented into wireless and wired baby monitors. The wired baby monitors segment accounts of the largest share in the market and is expected to grow at a CAGR of around 8% during the forecast period. The wireless baby monitors have registered a fastest growing CAGR and the growth of this segment is attributed to the increasing adoption of wireless monitoring devices, ease of use and better features. Based on end user, the Home Settings segment is expected to grow at a CAGR of around 8% throughout the forecast period

Based on end user, the market has been segmented into hospitals, Home Settings, and learning centers.

The Home Settings end-users segment accounts of the largest share in the market and are expected to grow at a CAGR of around 10% during the forecast period. Increasing disposable income, the growing trend of nuclear families and increasing population of tech-savvy parents are few of the prime factors responsible for the growth of this segment. While the hospitals end-user, the segment is expected to hold the CAGR of nearly 10% during the forecast period.

North America to dominate the next generation baby monitors market throughout the forecast period North America accounted for the largest market share nearly 36% of the global next generation baby monitors market in 2018 and is expected to dominate the market throughout the forecast period. The growth is mainly attributed to the high disposable income and purchasing power, high demand for advanced tracking devices.

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Also, an increasing number of deaths in children under the age of 5 years due to accidents and lack of attention has also boosted the growth of this segment. Asia Pacific is expected to register the fastest CAGR in the global market during the forecast period. Growing awareness regarding technologically advanced devices, increasing focus on better parenting and increasing tech-savvy population are few of the factors contributing to the growth of this segment.

Company Profiles and Competitive Intelligence:

·        LOREX Technology Inc.,

·        Angelcare Monitors Inc.,

·        Nest Lab. Inc. and Withings Inc.,

·        Samsung Electronics Co. Ltd.,

·        VTech Holdings Ltd.,

·        Summer Infant Inc.,

·        ShenZhen Foscam Intelligent Technology Co. Ltd,

·        Koninklijke Philips N.V,

·        Lorex Technology Inc.,

·        Summer Infant Inc.,

·        Dorel Industries Inc.,

·        Nest Labs, Inc.

·        Among others.

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