March 25, 2021
According to a research report titled ‘Global Smart Baby Monitor Market Size study, by Product (Audio & Video and Tracking Devices), by Distribution Channel (Online and offline) and Regional Forecasts 2020-2027’, available with Market Study Report, global smart baby monitor market is anticipated to record considerable profits during 2020-2027.
As per report findings, rising populace of working women, increasing disposable income, and surge in number of nuclear families are the major factors responsible for global smart baby monitor market growth. The U.S. Bureau of Labor Statistics reported that around 18.4 million women were enrolled in the labor force in 1950 which rose to 73.5 million in 2015, accounting for 46.8% women in the overall labor force.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3002303/
Moreover, growing acclaim for smartphones, coupled with rising awareness about baby safety, and surge in online retailing are stimulating worldwide smart baby monitor market demand. As per Statista, worldwide smartphone penetration rate was at 33.5% by 2016, which raised to 46.5% in 2020. The population spent USD 20.3 billion on online purchases during 2018, while the ecommerce user penetration was 71% in 2019 and is slated to hit 77.4% by 2023, cites the same source.
For the unversed, smart baby monitors assist in constant monitoring of babies in households. These electronic products are mounted in nurseries or kept in close proximity to babies to provide real-time information such as audio, live video, and location tracking. Ease of ensuring baby’s safety via integration with smartphone app is augmenting the industry share.
However, steady decline in birth rates is likely to impede the growth of global smart baby monitor industry in the ensuing years.
Based on product gamut, tracking devices, and audio & video devices are available in the marketplace. Moving on to distribution channels, the industry is arrayed into online, and offline.
On the regional front, North America is leading in terms of market share currently, owing to quick adoption of new technology, and growing acceptance of online retailing. However, Asia-Pacific market is projected to exhibit highest y-o-y growth rate during 2020-2027.
Renowned players in global smart baby monitor market are Samsung Electronics Co. Ltd, Safety 1st Inc., Motorola Inc., Angelcare Monitors Inc., Dorel Industries Inc., Lorex Technology Inc., iBaby Labs Inc., VTech Communications Inc., Netgear Inc., and Summer Infant Inc.