Global Baby Wireless Monitor Market Is Expected To Showcase A Significant CAGR Of 4.1% During 2017-2024
Aug 2, 2018
Baby Wireless Monitor Market Will Multiply At An Impressive CAGR Of 4.1% By 2024 & Top Key Players Phillips Electronics, Samsung Electronics Co. Ltd., Dorel Co. Ltd., Motorola Inc., Lorex Technology Inc., Owlet Baby Care Inc., Sproutling Inc., AngelCare Monitors, Drop Cam Inc.
New York, United States - August 1, 2018 /MarketersMedia/ —
The global baby wireless monitor market is segmented into product such as audio only baby monitor, video baby monitor, pan and tilt monitor, baby motion & breathing monitor, Wi-Fi & remote baby monitor, smart baby monitor etc. Among these segments, video baby monitor segment is expected to occupy the top position in baby wireless monitor market during the forecast period. Further, video baby monitor leads the market with 64.9 % of share in overall global baby wireless monitor market.
Global baby wireless monitor market is expected to flourish at a CAGR of 4.1% over the forecast period. Moreover, the Global Baby Wireless Monitor Market is anticipated to showcase noteworthy revenue by the end of 2024. Moreover growing awareness about baby safety, increasing disposable income coupled with increased online trade are the factors driving the growth of the baby wireless monitor market globally.
In 2016, North America region is dominating the global baby wireless monitor market and has captured highest share among all regions. Baby wireless monitor market in North America region stood at a valuation of USD 356.7 Million in 2016. Further, United States is the leading country in this region because of better technological infrastructure and increase in adoption of innovative baby products fostering the baby wireless monitor market in the region.
Europe stood second in terms of share and is expected to witness robust growth with the market share of 74% in the forecast period. Availability and increasing adoption of new method of technology and rising number of working parents is projected to witness the growth of the Baby Wireless Monitor Market in the Europe region.
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Rapid Urbanization and Technological Advancement
Growing global population coupled with increasing threats and per capita income is anticipated to bolster the growth to the baby wireless monitor in the upcoming years. With vast improvements in information technology and telecom networks, baby monitors have become smarter and can be controlled via applications installed in the parent’s or the guardian’s smart phones. As a result, the demand for baby wireless monitor market is anticipated to witness significant growth in the upcoming years.
Increasing Penetration of Smart Phones
Factors inclining the demand for baby wireless monitor market include increase in penetration of smartphones coupled with growing usage of internet which has enabled parents to watch their baby from a different location. Rise in the usage of online retailers for baby products has led the market for easy availability of wide range of baby monitoring products without wasting time in shopping in the offline (physical) stores, which has significantly boosted the demand for baby wireless monitor market. Apart from this, the market is driven by rising per capita spending on child care products across the developing economies.
In contrast, safety and security concerns along with declining birth rate may restrain the growth of baby monitors market in the next few years.
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The report titled “Baby Wireless Monitor Market: Global Demand Analysis & Opportunity Outlook 2024 ” delivers detailed overview of the global baby wireless monitor market in terms of market segmentation by product, by distribution channel, by component and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Baby Wireless Monitor Market which includes company profiling of Phillips Electronics, Samsung Electronics Co. Ltd., Dorel Co. Ltd., Motorola Inc., Lorex Technology Inc., Owlet Baby Care Inc., Sproutling Inc., AngelCare Monitors, Drop Cam Inc., Summer Infant Inc. and other key players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global baby wireless monitor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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