Smart Baby Monitor Market Growth, Size, Growth Drivers, Forecast To 2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Smart Baby Monitor Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The smart baby monitor market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed the increasing presence of online retailers, growing urbanization and lifestyle changes, rising dual-income households, and growth in the volume of nuclear families.

The smart baby monitor market size is expected to see strong growth in the next few years. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to the growing population of working parents, rising focus on holistic child development, the increasing penetration of smartphones, and growing dependence on remote monitoring of infants. Major trends in the forecast period include collaborations, partnerships, advancements in camera technology, technological advancements, product innovations, and use of artificial intelligence.

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Key Market Players:

Major companies operating in the smart baby monitor market report are Samsung Electronics Co. Ltd., Panasonic Corp., BT Group plc, Anker Innovations, Koninklijke Philips N.V., Motorola Inc., VTech Holdings Limited, Graco Inc., Dorel Industries Inc., Arlo Technologies Inc., LeapFrog Enterprises Inc., Allen & Heath Ltd., Summer Infant Inc., Lorex Technology Inc., Owlet Baby Care, Withings, Angelcare Group, Nanit, Cubo AI, Miku Inc., Lollipop Smart Baby Camera, Bebcare Baby Care, Babysense, Raybaby, WiFi Baby, ShenZhen Intelligent Technology Co., iBaby Labs Inc., Medisana GmbH, Infant Optics, Snuza International

Market Drivers:

The surging population of working parents is expected to propel the growth of the smart baby monitor market going forward. Working parents refer to individuals who are parents or guardians of children and are actively engaged in employment or some form of work to earn a living. A smart baby monitor helps working parents by providing real-time remote monitoring and alerts, allowing them to balance work commitments while ensuring the safety and well-being of their child. For instance, in 2023, according to the U.S. Bureau of Labor Statistics, a US-based government agency, around 91.2% of households with children under the age of 18 had at least one employed parent in 2022, an increase from 89.1% in 2021. Further, almost all families with children (97.4%) in 2022 had at least one working parent, and approximately 65.0% of these households featured both parents working. Therefore, the surging population of working parents is driving the growth of the smart baby monitor market.

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The smart baby monitor market covered in this report is segmented -

1) By Product: Audio And Video, Tracking Device
2) By Connectivity: Wired, Wireless
3) By Distribution Channel: Hypermarket Or Supermarket, Wholesalers Or Distributors, Specialty Stores, Independent Stores, Online Retailers, Other Sales Channel
4) By Application: Home or Family, Commercial, Daycare, Hospitals

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