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
Market Size Value in US$ 1.22 billion in 2022 Market Size Value by US$ 2.28 billion by 2030 Growth rate CAGR of 8.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Smart Baby Monitor Market: Strategic Insights
| Market Size Value in | US$ 1.22 billion in 2022 |
| Market Size Value by | US$ 2.28 billion by 2030 |
| Growth rate | CAGR of 8.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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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.
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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.
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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.
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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Sales Channel, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The key players, holding majority shares, in smart baby monitor market includes VTech Holdings Ltd, Motorola Mobility LLC, Panasonic Holdings Corp, Summer Infant Inc, and Nanit.
India is anticipated to grow with the highest CAGR over the forecast period.
The US held the largest market share in 2022, followed by Canada.
The smart baby monitor market is expected to reach US$ 2.28 billion by 2030
The smart baby monitor market was US$ 1.22 billion in the year 2022 and is expected to grow at a CAGR of 8.1%, during 2022 - 2030.
The increasing number of working parents, the rising number of corporate day care/childcare centers, and strategic initiatives by market players are one of the key drivers of the smart baby monitor market.
The AI based smart baby monitors can be a beneficial trend for the Smart baby monitor market.
The List of Companies - Smart Baby Monitor Market
- VTech Holdings Ltd
- Koninklijke Philips NV
- Samsung Electronics Co Ltd
- Panasonic Holdings Corp
- iBaby Labs, Inc.
- INFANT OPTICS
- Snuza
- Dorel Industries Inc
- NETGEAR
- Withings
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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