The global smart baby monitor market size is expected to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.4% over the forecast period. Increasing number of working mothers, along with rising awareness about child safety, is driving the market over the world. The product is capable of enabling the parents to communicate with their children in real-time and track their movements.
The audio and video segment accounted for the largest share of more than 75.0% in 2018. These products not only provide live video of the child but also track activities, nap, and feeding schedule of the baby. Innovative features including temperature sensors, automatic notifications, two-way audio, and in-built lullabies provided by these smart baby monitors have been attracting the consumers.
Wearable movement tracker has gained significant importance among the parents. These trackers provide information about the room temperature, sleep pattern, heart rate, oxygen levels, and temperature of the baby. The manufacturers of infant products have been entering the market by integrating tracking devices in their products. For instance, Kimberly-Clark (Huggies) launched a smart diaper, which is equipped with a sensor that connects to Bluetooth. Huggies partnered with Monit, a South Korean company, for the manufacture of this product.
North America held the largest share of more than 45.0% in 2018. The region is expected to maintain its lead over the next few years owing to high penetration of working parents and increased adoption of innovative technology in U.S. and Canada. In addition, presence of several key manufacturers including Dorel Industries Inc.; iBaby Labs, Inc.; NETGEAR Inc.; Lorex Technology Inc.; and Angelcare Monitor Inc. has boosted the growth of the industry.
Major competitors of this industry include Samsung Electronics Co., Ltd., Motorola, Inc., Dorel Industries Inc., iBaby Labs, Inc., NETGEAR Inc., Summer Infant, Inc., VTech Communications, Inc., Lorex Technology Inc., Angelcare Monitor Inc., and Safety 1st. Over the past few years, manufacturers have been focusing on product development to gain a competitive advantage. For instance, in February 2017, VTech Communications, Inc. introduced two new Wi-Fi compatible high-definition products VM991 and the VM981 Video Monitor. These products have a touchscreen parent unit and connected with a new MyVTech Baby app.
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Further key findings from the report suggest:
- In terms of product, the audio and video segment dominated the global market in 2018
- By distribution channel, the offline segment led the smart baby monitor market in 2018 and accounted for more than 70.0% share of the overall revenue. The online distribution channel is expected to expand at the fastest CAGR of 8.7% from 2019 to 2025
- North America was the largest regional market for smart baby monitor in 2018 owing to presence of a large number of working parents and high purchasing power of the consumers in U.S. and Canada
- Asia Pacific is projected to witness the fastest growth in the coming years due to increasing number of working mothers in the developing economies including China and India.
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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