ALBANY N.Y., April 01, 2022 (GLOBE NEWSWIRE) -- The use of baby monitoring products to ensure safety and security of infants has risen among working parents. Growing number of baby care centers has spurred the sales of products in the baby monitors market. Parents have become aware of the availability of reliable technologies that can help them monitor their infants. The global valuation of the baby monitors market is projected to surpass US$ 1.7 Bn by the end of 2031.
The analysts at TMR in an in-depth study on the key growth dynamics of the baby monitors market observed that small and medium-scale manufacturers of baby monitoring devices are aiming at value-added benefits to attract customers. Penetration of e-commerce platforms in developing economies has extended the reach of products, thus boosting the revenue possibilities for firms in the baby monitors market.
Advancements in technologies have led to products with advanced functionalities. In addition to this, manufacturers’ focus on boosting the safety of smartphone connectivity against hacks will unlock new revenue streams in the baby monitors market. In the coming years, the popularity of wireless connectivity-enabled baby monitors will create spurt in opportunities, asserts the analysts in an in-depth study by TMR.
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Key Findings of Baby Monitors Market Study
- Substantial Demand Among Working Parents to Propel Revenue Generation: Rise in number of families where both the parents are engaged in a work has changed the face of baby care. The trend has been reinforced by the inclination toward nuclear families. Thus, the prospects of the baby monitors market have grown steadily over the years. Furthermore, parents are installing baby monitors for ensuring safety and security of the babies especially when they are in daycare facilities. Increased awareness of sudden infant death syndrome (SIDS) has worked in favor, observed the analysts in a TMR study on the global baby monitors market.
- Rise in Number of Baby Care Centers Expanding Profitable Avenues: A thriving business of baby care centers in developing countries has bolstered revenue prospects of the baby monitors market. Retailers and suppliers are targeting customers by offering advanced functionalities and promoting them intensively. On the other hand, the demand for baby monitors in residential applications has also risen and is expected to remain popular in demand during the forecast period.
- Manufacturers Leveraging Technological Advancements for Launching Safe and Reliable Products: Manufacturers have become increasingly focused on overcoming the limitations of connectivity issues, particularly due to hacks. Furthermore, they are conducting R&D on increasing the reliability of products. The assortment of such products will extend the canvas for manufacturers, retailers, and sellers in the baby monitors market. The video monitors segment contributed a major revenue share of the market in 2020.
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Baby Monitors Market: Regional Growth Dynamics
- North America is expected to hold a leading share of the global baby monitors market during the forecast period. The increasing trend of nuclear family households in the region and large appetite of innovative products have boosted the size of the North America baby monitors market.
- Rise in number of working parents in several economies of Asia Pacific has fueled new revenue prospects in the region. The massive demand potential in India, China, and Japan is expected to generate abundant profitable opportunities in the Asia Pacific baby monitors market. The growing range of baby monitoring devices has boosted the revenue possibilities in the regional market.
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Baby Monitors Market: Key Players
Some of the key players in the baby monitors market are VTech Holdings Ltd., Summer Infant Inc., Sony Corporation, Samsung Electronics Co. Ltd., LOREX Technology Inc., Koninklijke Philips N. V., Hisense Group, Dorel Industries, Inc., and Angelcare.
Global Baby Monitors Market: Segmentation
Baby Monitors Market, by Product
- Video Monitor
- Audio Monitor
- Baby Movement Monitors
- Others (Sleep Tracker [Wristwatch], Sensors Products, etc.)
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Baby Monitors Market, by Connectivity
- Wired Baby Monitors
- Wireless Baby Monitors
Baby Monitors Market, by Range
- Up to 249 ft
- 250 to 499 ft
- 500 to 749 ft
- 750 to 999 ft
- 1,000 to 1,499 ft
- Above 1,499 ft
Baby Monitors Market, by Price Range
- Low (Below US$ 50)
- Medium (US$ 50-200)
- High (Above US$ 200)
Baby Monitors Market, by Application
- Residential
- Commercial
- Nursery
- Baby Care Centres
- Others (Hospitals, Asylums, etc.)
Baby Monitors Market, by Distribution Channel
- Online
- E-commerce Websites
- Company Owned Websites
- Offline
- Direct Sales
- Indirect Sales
Baby Monitors Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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