Baby monitor is basically a baby alarm, which facilitates parents to remotely track the movements and other activities of the baby. A basic audio monitor consists of a transmitter and microphone, which enables a two-way communication between the parent and the baby. Baby video monitor is an advanced version of baby monitor, which allows parents to see and monitor baby’s movements. Further, baby monitors with movement trackers and preinstalled lullabies, are also available in the market, to cater to the varying needs of the parents.
Increase in the number of working parents and nuclear families has led to a higher adoption of baby monitors in homes and day care centers. Growing awareness about baby safety, increasing disposable income and increased online retailing are other factors that have fueled the growth of the market. However, declining birth rate due to sedentary lifestyle and safety concerns associated with these products are amongst major challenges for the players operating in the industry. Irrespective of challenges, the industry is anticipated to offer attractive business opportunities in developed as well as developing regions in near future.
The world baby monitors market is segmented on the basis of type, mode of connection and geography. Based on type, baby monitors are categorized as audio and video baby monitors. Market is categorized as wired and wireless baby monitors depending on mode of connection. Wireless baby monitors offer the advantage of portability, ease of installation and connection as these can be easily connected to WLAN. The world baby monitors market is analyzed on the basis of geographical regions, which include North America, Europe, Asia-Pacific and LAMEA.
FIGURE 1. TOP FACTORS IMPACTING WORLD BABY MONITOR MARKET
Source: AMR analysis
Rise in the number of employed parents
Rise in number of employed parents in the countries such as the United States, Canada, China and others, is the major factor that drives baby monitor’s market. This increase in number is subjected to increase in number of working mothers. These baby monitors enable employed parents to watch their baby or track baby’s movements when they are away from home or at workplace. Increase penetration of smartphones and growing usage of internet have enabled parents to watch their baby from a remote location.
Declining birth rates
Declining birth rate is a key challenge faced by manufacturers of baby monitors. Sedentary lifestyle and high stress level are the main causes of low birth rate. Urbanization, smaller household, a higher number of people are entering into education and career, and population control have led to increase in the stress level of consumers. Low fertility is observed especially in the Western European countries, Japan, Canada, Russia, and Poland which limits market growth.
Increasing demand from emerging countries
Emerging countries, such as India, China, Brazil, South Africa, and Thailand, offer lucrative opportunities for baby monitors market, owing to the large population, increase in the number of women workforce, improved level of education, and rise in disposable income. Moreover, changes in one-child policy in China would drive baby monitors market in the region.
U.S.: DOMINANT MARKET FOR BABY MONITOR
U.S. is the dominant market for all baby monitors. Better technological infrastructure and increase in adoption of innovative & niche baby products are some of the major factors for the growth of baby monitors in the U.S. Increase in online retailing in U.S. is another major factor that has fuelled the growth of the baby monitor market.
Different models of audio and video, wired and wireless baby monitors with additional features such as infrared night light, in-built lullabies, temperature sensors are available in the United States. Primarily, video wireless monitors wireless baby monitors are popular in this region. The United States is home for some of the biggest players of the market. They offer various security and safety features that put parent’s minds at rest. Baby monitors are available in stores specialized for babies and are also sold online as well. In spite of being the dominant market for baby monitor, the U.S. market faces many challenges such as threat of hacking and emission of chronic radiation.
FIGURE 2. U.S. BABY MONITOR MARKET REVENUE, 2014-2020 ($MILLION)
Source: Secondary sources and AMR analysis
The key players profiled in the report include Samsung Electronics Co. Ltd., Dorel Industries Inc., Angelcare Monitors Inc., LOREX Technology Inc., VTech Holdings Ltd., ShenZhen Foscam Intelligent Technology Co. Ltd, Summer Infant Inc., Koninklijke Philips N.V, Nest Lab. Inc. and Withings Inc. Presently, the baby monitor market is largely driven by growth strategies such as product launch and acquisition. Lorex Technology Inc., Summer Infant Inc., Nest Labs, Inc. and VTech Holdings Ltd. have launched new baby monitors in recent past to attract more number of customers and increase their market share.
- This study provides an in-depth analysis of baby monitors market with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding key drivers, restraints and opportunities with impact analysis.
- Porter’s five forces analysis of industry and SWOT analysis of the key market players have been provided to illustrate the business strategies adopted by them.
- The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value additions at every stage in the value chain.
- The quantitative analysis of the market during the period of 2014-2020 has been provided to elaborate the market potential.
The market is segmented on the basis of type mode of connect and geography.
MARKET BY TYPE
MARKET BY MODE OF CONNECTION
MARKET BY GEOGRAPHY
- North America
- Samsung Electronics Co. Ltd.
- Dorel Industries Inc.
- Angelcare Monitors Inc.
- LOREX Technology Inc.
- VTech Holdings Ltd.
- ShenZhen Foscam Intelligent Technology Co., Ltd
- Summer Infant Inc.
- Koninklijke Philips N.V
- Nest Lab. Inc.
- Withings Inc.