by The global video baby monitors market is estimated to be valued at US$ 1.47 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Video baby monitors allow parents to watch over their child while they are away or in another part of the home. They offer peace of mind by providing both audio and video access from anywhere using a dedicated monitor, smartphone or tablet. With the help of advanced features such as motion detection, two way talkbacks and remote video viewing parents can keep a close eye on their baby.
Market key trends:
Integration of advanced technologies such as artificial intelligence and Internet of Things (IOT) is one of the major trends being observed in the video baby monitors market. IOT enabled baby monitors are gaining popularity as they offer advanced functionalities beyond basic audio and video monitoring. Features like facial recognition, motion detection, temperature monitoring, crying detection and activity tracking are commonly being offered in IOT baby monitors. This allows automated alerts to be sent to parents in case of unexpected situations like rise in room temperature or continuous crying. Such high-end and innovative products are appealing to modern parents and driving the demand for smart baby monitors.
SWOT Analysis:
- Strength: Video baby monitors provide peace of mind for parents by allowing them to monitor their baby remotely. They offer two-way communication which enables parents to soothe the baby from another room.
- Weakness: Video baby monitors require stable internet connection for remote viewing which can be an issue in areas with poor connectivity. Concerns around data privacy and security as the videos are stored and transmitted online.
- Opportunity: Growing working women population and nuclear family structures driving the demand. Advancements in technology leading to emergence of smart video baby monitors with additional features.
- Threats: Presence of substitutes like audio baby monitors and nanny cams. Stringent regulations around data privacy and security.
Key Takeaways:
The Global Video Baby Monitors Market Size is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing working women population globally.
North America dominated the global video baby monitors market in 2022 owing to high awareness regarding baby safety products and growing working women population in the region. Asia Pacific is expected to emerge as the fastest growing regional market stimulated by rapidly evolving nuclear family structures in emerging economies like China and India.
Key players operating in the video baby monitors market are Motorola Mobility LLC, Samsung Electronics Co. Ltd., Lorex Technology Inc., VTech Communications Inc., Foscam Digital Technologies LLC, iBaby Labs Inc., Summer Infant Inc., Nest Labs Inc., Withings Inc., Angelcare Monitor Inc. These companies are focusing on incorporating advanced technologies like AI and integrating additional features to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
