Baby monitors are used to monitor the baby’s activities when the parents are not in close proximity of the baby. It can transmit audio as well as video. A baby monitor is also termed as a baby alarm. Audio monitor comprises a transmitter unit, with a microphone, placed near the child. It transmits the sounds by radio waves to a receiver unit with a speaker near the person caring for the infant. Video monitor is used to display images on the receiver, on a compact LCD screen or by plugging the receiver into a television. This type of surveillance camera is also known as baby cam. The global medical baby monitoring devices market is estimated to reach a value of US$1,577.2 Mn by 2026.
Key factors driving the medical baby monitoring devices market includes rise in number of employed parents, increase in disposable income etc. Furthermore, increase in demand for smart baby monitors, and higher adoption of baby monitors in day care centers are some of the key factors fueling the growth of the medical baby monitoring devices market. Evolution in e-commerce has created huge opportunities for producers and suppliers in the industry. In order to cater to a comprehensive range of customers across the world, producers and suppliers of baby monitors are focusing on selling their products on various e-commerce websites.
Online shopping has an upper edge over brick and mortar retail in a majority of industries. Increase in demand for baby monitors in emerging economies and rise in innovation and technological development is expected to trigger the growth of the medical baby monitoring devices market during the forecast period. However, a major challenge restricting the growth of the medical baby monitoring devices market is falling fertility rate. Security concern over information leakage through baby monitors is also anticipated to hamper the growth of the baby monitoring devices market.
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The medical baby monitoring devices market can be segmented based on product type, connectivity, hardware, application, and region. In terms of product type, video movement monitor is expected to expand at a faster rate in the near future at a CAGR of 6.2% (2018-26). Based on connectivity, the medical baby monitoring devices market has been divided into wireless and wired. Wireless baby monitors market is expected to expand at a CAGR of 6.0% (2018-26) due to increase in usage.
Parents are increasingly using video monitors with wireless connectivity network. On the basis of hardware, the baby monitoring devices market has been divided into camera and sensors. Motion and sound detection cameras accounted for majority share and accounted for 40% of the camera segment in terms of value in 2017. Diaper attachment holds majority of share in the sensors segment followed by under the mattress segment. In terms of application, the market is bifurcated into residential, hospital, and nursery.
Residential segment is projected to expand at a CAGR of 6.3% (2018-26) during the forecast period. Based on geography, Asia Pacific region is anticipated to witness the highest growth at a CAGR of 6.8% (2018-26) during the forecast period due to increase in number of working parents and rise in demand for video baby monitors in developing countries in China and India.
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Some of the prominent players operating in the global medical baby monitoring devices market includes Angelcare Monitors Inc., Dorel Industries Inc., Motorola Solutions Inc., Summer Infant Inc., Koninklijke Philips N.V., Snuza, Hisense, Windeln.De, and Sony Corporation. These players are estimated to face healthy competition in the near future due to presence of a large number of local players in the market. Major brands are likely to focus on research & development to strengthen their foothold in the global medical baby monitoring devices market.
Companies are undertaking mergers and acquisitions, and joint ventures with local players to expand their product portfolio. Producers in developing countries are focusing on reducing their cost of production and increase profitability for the sustainable growth of their business.
