Baby Monitors Market: Snapshot
Owing to increasing number of working parents and rise in the number of nuclear families, the demand for baby monitors have increased. In addition, an increase in the number of day care facilities has added on to the increased demand of baby monitors globally. High growth in disposable income in emerging economies and increased propensity to spend on baby care products is also positively impacting the market, especially in developing economies of Asia Pacific and Latin America.
Transparency Market Research estimates that the global baby monitors market will exhibit a 4.4% CAGR from 2016 through 2024, rising from a valuation of US$876.8 mn in 2015 to US$ 1,291.8 mn by 2024.
Get Sample Copy:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5156
Wide Range of Features makes Fixed Video Baby Monitors Most Popular Product Variety
On the basis of product type, the baby monitors market is examined in the report for product varieties such as audio baby monitors, fixed video baby monitor, and pan and tilt baby monitors. Accounting for over 45% of the global baby monitors market, the segment of fixed video baby monitor dominated the market in terms of revenue in 2015. The trend is expected to continue over the next few years as well. Advanced features of fixed video baby monitors, such as the possibility of real-time sound and video transmission, temperature sensing, talk-back, and heart rate monitoring will aid the future development of the segment over the forecast period.
The market for pan and tilt baby monitors is expected to exhibit steady growth owing to their rising popularity among users; these baby monitors offer advantages such as easy rotation of camera to get a perfect view of the baby’s play area and instant temperature alerts among others. The segment will exhibit a 5.5% CAGR over the period between 2016 through 2024. The segment of audio baby monitors, on the other hand, is expected to exhibit a -0.9% CAGR over the said period. The decline in demand for such baby monitors will stem from their limited set of features. Nevertheless, their economic nature will lead to a steady demand from cost-sensitive buyers.
Grab an exclusive PDF Brochure of this report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5156
High Per Capita Spending on Baby Care Products Allows North America Market to Retain Dominance
Globally, North America is the largest regional market for baby monitors in terms of revenue, holding over 52.0% in 2015 and this trend is expected to continue over the forecast period as well; however Asia Pacific is the fastest growing baby monitors market. High per-capita spending capacity of consumers, growing awareness related to baby safety and security, and a rise in the number of nuclear families are cumulatively driving the market for baby monitors in North America. In addition to this, technologically advanced infrastructure and greater adoption of the innovative and niche baby care products is expected to create a lucrative market opportunity for baby monitors across North America.
In 2015, Europe held the second largest market share for baby monitors, accounting for more than 36% of the total market size. Germany and the U.K. are the leading manufacturers of baby monitors in the region. The advancements in baby monitor technologies have positively impacted the demand for the market in the region. Rising expenditure on baby monitoring devices and increasing private equity investments in the electronic sector are the key factors driving the market for baby monitors in the region.
Read TMR Research Methodology @:
https://www.transparencymarketresearch.com/methodology.html
Over the forecast period, Europe will continue to account for a significant share in the global baby monitors market. The market in Asia Pacific, however, will outpace both North America and Europe in terms of growth rate from 2016 to 2024. Expansion of the demand for baby monitors in the region will be as a result of changing lifestyles, increasing awareness among parents related to child care, rising disposable income, and efficient retailing channels.
Some of the key vendors operating in the global baby monitors market are Samsung Electronics Co. Ltd., Angelcare Monitors Inc., Dorel Industries Inc., LOREX Technology Inc., Summer Infant Inc., Sony Corporation, VTech Holdings Ltd., and Koninklijke Philips N.V.
Read Our Latest Press Release:
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Contact
Transparency Market Research State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
