Bizizz Market Research has recently published a research report, “Smart Baby Monitor Market by Product (Audio & Video and Tracking Devices) by Distribution Channel (Offline and Online) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Smart Baby Monitor Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 1.5 Bn by 2027, witnessing a CAGR of 6.8 % during the forecast period. Key drivers of the market are significant birth rate, introduction of advanced products, and growing working population.
The rising working population and willingness to spend on baby care products is expected to fuel the growth of smart baby monitor market. Moreover, the manufacturers are continuously launching new products with advanced features such as noise detection, temperature monitoring, humidity history, and remote monitoring which is anticipated to poise a positive impact on the market growth.
The Smart Baby Monitor Market Is Anticipated To Register A CAGR Of Over 6.8 % During The Forecast Period.
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By Product Type, Audio & Video Segment Held A Prominent Share In Global Smart Baby Monitor Market In 2018
The audio and video segment led the global market by occupying 72.5 % share in 2018. The audio and video monitors offer the live video access of babies through which parents can check and monitor baby’s activities which minimize the stress level and anxiety occurred due to separation from their child.
North AmericaIs Projected to Occupy Prominent Share During the Forecast Period
North America is anticipated to account for significant share throughout the forecast period. In 2018, North America registered 34.7 % share in global smart baby monitor market. The growth of the region can be credited to high purchasing power and rising prevalence of online shopping in U.S. and Canada. Wide range and easy availability of these products on online retailing platform is expected to favor the regional growth. On the other hand, Asia Pacific is anticipated to witness fastest growth during the forecast period. Increase in number of female working population in India, China, Malaysia, and Thailand is expected to propel the growth of smart baby monitors market in Asia Pacific.
Global Smart Baby Monitor market is highly fragmented with several local and global players. The manufacturers are focused on product innovation to gain competitive edge which will help them to expand their customer base across the globe.
Prominent players operating in the Global Smart Baby Monitor Market are: Angelcare Monitor Inc., Samsung Electronics Co., Ltd., Lorex Technology Inc., Motorola, Inc., Vtech, Dorel Industries Inc., Summer Infant, Inc., NETGEAR Inc., and iBaby Labs, Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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