A recent offering by Market Research Reports Search Engine (MRRSE) focusing on the exclusive updates and opportunities in the global Baby Monitors market has been broadcasted to its mega-repository. This page study is titled as “Baby Monitors Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”, which acts as an essential tool for various players involved in the manufacturing of Baby Monitors. Besides, the report can support them to gain incisive insights into the market with which they can make informed decisions and also frame effective key strategies. With an extensive forecast to 2016-2024 the study aims to provide a holistic perspective on the market’s growth in terms of revenue in US$ Mn and CAGR, across different geographical regions namely North America, Europe, Asia Pacific excluding Japan, Middle East & Africa, Japan and South America.
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Owing to increasing number of working parents and rise in the number of nuclear families, the demand for baby monitors have increased. In addition, an increase in the number of day care facilities has added on to the increased demand of baby monitors globally. High growth in disposable income in emerging economies and increased propensity to spend on baby care products is also positively impacting the market, especially in developing economies of Asia Pacific and Latin America.
Transparency Market Research estimates that the global baby monitors market will exhibit a 4.4% CAGR from 2016 through 2024, rising from a valuation of US$876.8 mn in 2015 to US$ 1,291.8 mn by 2024.
Wide Range of Features makes Fixed Video Baby Monitors Most Popular Product Variety
On the basis of product type, the baby monitors market is examined in the report for product varieties such as audio baby monitors, fixed video baby monitor, and pan and tilt baby monitors. Accounting for over 45% of the global baby monitors market, the segment of fixed video baby monitor dominated the market in terms of revenue in 2015. The trend is expected to continue over the next few years as well. Advanced features of fixed video baby monitors, such as the possibility of real-time sound and video transmission, temperature sensing, talk-back, and heart rate monitoring will aid the future development of the segment over the forecast period.
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The market for pan and tilt baby monitors is expected to exhibit steady growth owing to their rising popularity among users; these baby monitors offer advantages such as easy rotation of camera to get a perfect view of the baby’s play area and instant temperature alerts among others. The segment will exhibit a 5.5% CAGR over the period between 2016 through 2024. The segment of audio baby monitors, on the other hand, is expected to exhibit a -0.9% CAGR over the said period. The decline in demand for such baby monitors will stem from their limited set of features. Nevertheless, their economic nature will lead to a steady demand from cost-sensitive buyers.
High Per Capita Spending on Baby Care Products Allows North America Market to Retain Dominance
Globally, North America is the largest regional market for baby monitors in terms of revenue, holding over 52.0% in 2015 and this trend is expected to continue over the forecast period as well; however Asia Pacific is the fastest growing baby monitors market. High per-capita spending capacity of consumers, growing awareness related to baby safety and security, and a rise in the number of nuclear families are cumulatively driving the market for baby monitors in North America. In addition to this, technologically advanced infrastructure and greater adoption of the innovative and niche baby care products is expected to create a lucrative market opportunity for baby monitors across North America.
Some of the key vendors operating in the global baby monitors market are Samsung Electronics Co. Ltd., Angelcare Monitors Inc., Dorel Industries Inc., LOREX Technology Inc., Summer Infant Inc., Sony Corporation, VTech Holdings Ltd., and Koninklijke Philips N.V.
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