[Research Report] The smart baby monitor market is expected to grow from US$ 1.22 billion in 2022 and is expected to reach US$ 2.28 billion by 2030; it is estimated to record a CAGR of 8.1% from 2022 to 2030.

Analyst Perspective:

Increasing preference for online retailing and rising spending on baby products are among other factors contributing to the smart baby monitor market. However, ensuring data security is a major challenge faced by the market players, as these products are primarily used to track the movements and other activities of babies in their personal space. The smart baby monitor market is evolving with ongoing technological innovations, particularly in video and Wi-Fi technologies. The growing number of nuclear families and working parents worldwide is boosting the adoption of smart baby monitoring devices. Working parents are strongly looking for daycare centers or nannies to take care of their children when they are not home. The rise in concerns associated with child safety is also making them purchase smart baby monitoring devices. Also, the number of working mothers is on the rise in developed and developing countries such as the US, Canada, China, and India. Smart baby monitoring products help parents carry out their activities efficiently without being stressed about their babies' activities and safety. These systems facilitate real-time communication between parents and their children through smartphones. Thus, the increasing penetration of smartphones will support the growth of the market during the forecast period.

Smart Baby Monitor Market Overview:

A smart baby monitor enables parents to watch, talk to, and soothe their child from anywhere. It uses many sensors to assess the baby and alert the parents of any changes. A smart baby monitor keeps track of a baby's sleeping patterns, heart rate, and the surrounding temperature, among others. The increasing number of nuclear families, with upgraded lifestyles and both parents employed, have opened new opportunities for several businesses, including baby care products such as smart baby monitors.

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Smart Baby Monitor Market: Strategic Insights

Smart Baby Monitor Market

• 
  CAGR (2022 - 2030)

  8.1%
• Market Size 2022
  US$ 1.22 Billion
• Market Size 2030
  US$ 2.28 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing Number of Working Parents
• Rising Number of Corporate Daycare/Childcare Centers
• Strategic Initiatives by Market Players

FUTURE TRENDS

• Al-Based Smart Baby Monitors

OPPORTUNITIES

• Rising Population of Tech-Savvy Millennial Parents
• Rise in Smart Home

Key Players

• VTech Holdings Ltd
• Koninklijke Philips NV
• Samsung Electronics Co Ltd
• Panasonic Holdings Corp
• iBaby Labs, Inc.
• INFANT OPTICS
• Snuza
• Dorel Industries Inc
• NETGEAR

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Video Monitor Device and Audio Monitor Device

Sales Channel

• Online and Offline

Application

• Home/Family
• Hospitals
• Day Care  

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Smart Baby Monitor Market Driver:

Increasing Number of Working Parents Drive Smart Baby Monitor Market Growth

In the past few years, the trend of living in a nuclear family has been rising as it offers more financial stability than a joint family. Migration from villages to cities for education and jobs has been another prominent factor driving the rise in the number of nuclear families. Thus, to maintain the cost of living, both parents work, which is boosting the number of working parents across various countries such as the US, India, China, and Canada. Working parents are looking for nannies or daycare facilities to take care of their kids when they are not home. The rising concerns correlated with child safety encourage them to purchase smart baby monitoring devices. Smart baby monitoring products assist parents in carrying out their activities effectively without being worried about their children's activities and safety. These systems assist in real-time communication among parents and their children through smartphones. With the rise in penetration of smartphones, parents are increasingly installing apps to monitor their babies.

Further, the rising purchasing power of the populations across developing countries such as Brazil, India, and Thailand allows them to spend more on their kids' safety. Hence, there is a constant expansion of online sales channels, as it offers consumers easy access to a variety of products. Thus, to cater to the demand for smart baby monitors among working parents, market players launched various solutions. For example, in April 2021, Miku launched the Miku Pro Smart Baby Monitor, which was developed to connect parents to their babies. The product’s proprietary SensorFusion technology helps the parents to track breathing and sleeping patterns with no physical contact, which delivers enhanced safety for the baby. Thus, the increasing number of working parents drives the smart baby monitor market.

Report Segmentation and Scope:

The smart baby monitor market is segmented on the basis of type, sales channel, application, and geography. Based on type, the smart baby monitor market is bifurcated into video monitor devices and audio monitor devices. In terms of sales channel, the market is divided into online and offline. Based on application, the smart baby monitor market is segmented into home/family, hospitals, and day care. By geography, the smart baby monitor market is categorized into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Smart Baby Monitor Market Segmental Analysis:

Based on type, the smart baby monitor market is bifurcated into video monitor devices and audio monitor devices. The video monitor devices segment held a larger smart baby monitor market share in 2022 and is anticipated to record a higher CAGR in the market during the forecast period. A video monitor can help observe babies from a distance or track their heart rate or breathing. A video monitor is a display device that enables one to observe the output from a piece of video equipment, such as a camera or video player. They are often called reference monitors, as an individual refers to them to make sure the video is working properly. The video monitor device has several advantages, such as remote monitoring in which parents can keep an eye on their baby from anywhere using a smartphone or tablet, providing convenience and comfort. It has also enhanced night vision capabilities to ensure clear video feed in low-light conditions, enabling continuous monitoring during nighttime. As the video monitor device has several benefits, it is gaining traction in the smart baby monitor market.

Regional Analysis:

North America held the largest smart baby monitor market share in 2022. The US, Canada, and Mexico are among the key countries in North America. The US and Canada are among the region's most advanced countries as they are at the forefront of adopting technologies in almost all sectors. Moreover, the presence of significant smart baby monitoring system providers and the widespread awareness regarding these solutions propel the market growth in North America. Moreover, there is high acceptance of smart baby monitors in the region as it is an early adopter of advanced technologies. These products allow parents to remotely track and monitor the movements of their babies.

A continuous contribution of companies and research organizations to technological advancements leads to healthy competition among various market players in the region. Moreover, the population in this region is more inclined toward technological developments due to high spending power. To address the growing consumer demands for high-quality products and services, companies in North America are continuously enhancing their overall business processes. Moreover, the availability of funding or ease of raising funds through joint ventures, partnerships, and other similar strategies is a key factor encouraging the smart baby monitoring market players to bring advancements in their monitoring system portfolios. For instance, in May 2020, Nanit, a maker of wearable baby sleep trackers and monitors, received funding of ~US$ 21 million after entering into a joint venture with Jerusalem Venture Partners (JVP), RRE Ventures, Upfront Ventures, and Rho Capital Partners. A few of the well-known market players present in North America are Dorel Industries Inc.; Angelcare Monitors Inc.; Summer Infant, Inc.; Samsung Electronics; Google Inc.; Koninklijke Philips N.V; and Nokia Corporation, among others.  

Key Player Analysis:

Allen & Heath Ltd; VTech Holdings Ltd; Koninklijke Philips NV; Samsung Electronics Co Ltd.; Panasonic Holdings Corp; iBaby Labs, Inc.; INFANT OPTICS; Snuza; Dorel Industries Inc; NETGEAR; and Withings are the key smart baby monitor market players profiled in the report.

Smart Baby Monitor Market Report Scope

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Recent Developments: 

The smart baby monitor market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below: 

• In 2022, Nanit introduced a smart baby monitor that can measure breathing movements and offers best-in-class connectivity as well as high-quality audio and video functions. The “Nanit Pro” smart monitor allows parents to connect with their babies in real-time and has a notification feature that alerts them to baby activity.
• In 2022, as part of its expanding product line, EZVIZ, a smart home camera business, has announced its first artificial intelligence (AI)-powered small baby monitor. The EZVIZ infant Monitor 1 is meant to fit into any infant room due to its palm-sized size and visually appealing design. This is a fully portable, battery-powered device that can be brought almost anywhere.
• In 2022, VTech Communications introduced the VTech DM221 Audio Baby Monitor, which has a nightlight and a long-range audio range.
• In 2022, Bonoch, a new childcare product business, launched its latest innovation to help families with multiple children. Bonoch's latest video baby monitor features two HD cameras that feed data to a 7-inch split-screen monitor, allowing users to focus on several perspectives at the same time.
• In 2021, Cubo Al has launched a sleep monitoring pad. This sleep-sensing pad can detect breathing patterns and record the baby's sleep data. This smart pad is compatible with its award-winning baby monitor, providing parents with complete satisfaction and safety assurance.