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The global advanced baby monitor market share was valued at USD 597.60 million in 2020 and showed positive growth during the forecast period. The advanced baby monitor market is classified into Distribution Channel, Product, and Geography. Based on the classification, the distribution channel segment holds the largest market share.
The global advanced baby monitor market size is estimated to grow at a CAGR of 10.75% between 2023 and 2027. The market size is forecast to increase by USD 480.9 million.
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The Advanced Baby Monitor Market report extensively covers market segmentation by distribution channel (offline and online), product (under-the-mattress, diaper attachment, smart wearable, and other formats), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The access to distribution channels through omnichannel strategies is one of the major advanced baby monitor market trends shaping the market growth. E-commerce's rapid growth has prompted brands to enhance the sales experience. They're investing in account and supply chain management, broadening product selections, and launching informative, interactive websites. These websites not only promote products but also provide expert advice and facilitate comparisons of advanced baby monitors.
Online shopping offers the benefit of reviewing products and reading customer feedback before purchasing. Vendors are also expanding distribution channels to attract diverse customers, giving rise to omnichannel retailing. By adopting omnichannel strategies, vendors can tap into physical stores, company-owned e-commerce sites, and third-party online retailers, boosting market growth in the forecast period by catering to a wider customer base.
Innovation in technology and product design and features leading to premiumization is a key driver boosting the market growth. Technological innovation and premium product design are driving the rise of high-quality baby care products. The growing number of employed women has increased the demand for advanced baby monitors, offering features like adaptive night lights, high-definition video, and heart rate monitoring.
Additionally, the rise in Sudden Infant Death Syndrome cases has led to advanced baby monitors that track heart activity, oxygen levels, and other vital signs. Innovations, such as the Owlet Baby Care Smart Sock 2 and the MonBaby Smart Button, offer parents real-time monitoring and safety features. These advancements are fueling the premiumization of advanced baby monitor products, contributing to market growth in the forecast period.
Lack of awareness and high price of advanced baby monitors is a major challenge hindering the market growth. The growth of the advanced baby monitor market faces hurdles due to low awareness and high prices. In contrast to other widely adopted baby care products, advanced baby monitors have limited adoption in developing countries, where they are often perceived as luxury items. Parents in these regions often lack awareness about the benefits of such monitors. In 2017, for every 100 babies born in APAC, only four to five advanced baby monitors were sold, compared to the high penetration rate in North America and Western Europe. Manufacturers are working to increase awareness in these developing regions.
Additionally, the high cost of advanced baby monitors, such as Owlet Baby Care's Smart Sock 2 priced at nearly USD 300, and Angelcare's AC517 Baby Breathing Monitor priced at almost USD 250, presents a barrier to adoption. These factors are expected to impede market growth during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. The offline distribution channel refers to the sales of products through specialty stores (including baby product stores, home improvement stores, and consumer electronics stores), department stores, hypermarkets, supermarkets, clubhouse stores, and drugstores and pharmacies.
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The offline segment shows a gradual increase in the market share of USD 316.80 million in 2017 and continued to grow until 2021. To fuel offline sales, players are managing their sales through local retail entities. These vendors sell their products through specialized baby product stores and through other different retailing modes such as home improvement stores, consumer electronics stores, and hundreds of small independent retailers. This further intensifies the market competition. To sustain in such a competitive market, where the preference for offline shopping is declining, vendors are evolving with new business and retail strategies that include product offerings and pricing strategies. Factors such as business expansion and a rise in the number of hypermarkets, supermarkets, convenience stores, and warehouse clubs of major retailers add to the sales of these retail formats and significantly contribute to the market. The popularity of these retail stores helps manufacturers reach out to more customers. Shopping from these retail stores is helpful due to the attractive discounts and schemes they offer. Thus, various types of products offered by the vendors operating in the market will drive the market during the forecast period.
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Europe is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Western Europe currently leads in the use of advanced baby monitors, but Eastern Europe, an emerging region, shows great potential. This potential stems from improved living standards, urbanization, and increased internet and smartphone adoption. Urban households are particularly interested in advanced baby monitors due to rising awareness of Sudden Infant Death Syndrome (SIDS) and evolving lifestyles. Key markets for advanced baby monitors in Europe include the US, Germany, France, Italy, the UAE, and South Africa, benefiting from robust internet access and a thriving e-commerce sector. Vendors, like Angelcare, expand their presence both online and offline. The trend of dual-income households in Europe contributes to higher spending on advanced baby monitors, with the UK leading the market. However, declining birth rates in the region are expected to negatively affect the market during the forecast period. According to Eurostat, the EU's birth rate averaged 1.5 births per person in 2020, a trend of declining fertility over the past two decades.
In 2020, Germany, France, and the UK were hit hard by the COVID-19 outbreak, leading to lockdowns that disrupted the supply chain for advanced baby monitors. However, the pandemic highlighted the need for contactless monitoring technology in healthcare, boosting demand for these monitors in Europe. The launch of vaccination campaigns and the easing of restrictions in 2021 facilitated market recovery. Vendor developments will drive regional growth in the forecast period.
The Russian invasion of Ukraine disrupted European industries, impacting the supply chain for electronic components due to raw material shortages and logistical challenges. This worsened the ongoing global chip shortage as Russia controls 44% of palladium supplies, and Ukraine produces 70% of the world's neon, essential for chip production. These factors negatively affected the consumer electronics industry and, consequently, the regional market since Q1 2022. However, a potential resolution of the Russia-Ukraine situation could lead to recovery during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Lorextechnology- The company offers advanced baby monitors such as LW2400 wireless video monitor.
Technavio has detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The advanced baby monitor market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Advanced Baby Monitor Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.75% |
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Market growth 2023-2027 |
USD 480.9 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
10.24 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 32% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Baby Control Digital, Cubo Ai, Dorel Industries Inc., Hisense Ltd., iBaby Labs Inc., JABLOTRON Group AS, Koninklijke Philips NV, Lorex Technology Inc., Motorola Mobility LLC, Nanit, Owlet Inc., Panasonic Holdings Corp., Safetosleep, Samsung Electronics Co. Ltd., Snuza International Pty. Ltd., Summer Infant Inc., The Holding Angelcare Inc., VTech Holdings Ltd., WiFi Baby, and Withings France SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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