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Baby Monitors Market - Economic, Consumer and Industry Trends for 2018

, 17 July 2018 -- Baby Monitors Market to explore New Frontiers underpinned by their Wide Functionalities and Technological Capabilities

Baby monitors are gathering steam among parents of newborns world over promising to take baby care to a new level. The system and technologies have gained popularity especially among working parents wanting to constantly monitoring their babies’ activities. The rising demand for baby monitors is catalyzed by the presence of nuclear families among parents who would want to complement their physical presence with reliable monitoring technologies. Options abound for the buyers in relation to different functionalities and control features the monitors offer serving their varying or specific purposes.

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Trends shaping various Trajectories of Demand Evolution

Shift Nuclear Families Favorable for Demand:-

The rising trend of nuclear families gaining pace is poised to up the demand for baby monitors. The evolving priorities of parents both of whom may need to work, especially evident in developed and emerging economies, positively impacts the demand dynamics. The growing shift toward parents leaving their babies in daycare and professional care centers is also a potential factor propelling the worldwide demand for monitors. In one area where baby monitors is getting prominence is its application in meticulously monitoring babies who are suffering with some acute health conditions such as chronic breathing problems. The rising trend of online retailing, coupled with the burgeoning expenditure on baby care products, is a key factor catalyzing the growth of the market.

According to Transparency Market Research, underpinned by these trends, the global market of baby monitors will reap a revenue worth of US$1,291.8 Mn by 2024 end.

Technological Advancements make Demand Lucrative:-

The reliability of baby monitors is paramount to parents who would not want to miss on any alerts and alarms the devices are supposed to offer while monitoring their babies’ activities. Thus, some of the vital attributes that users should look while buying for baby monitors are good sound quality, minimal interference from other signals, sufficiently good signal strength in case large coverage area is needed, and the ease of control, may be through smartphone apps or tablets.

Rapid advances in security cameras have made baby monitors more reliable. The incorporation of advanced sensors and staggering pace that internet-of-things has caught up with savvy consumers world over are factors likely to unlock vast promising prospects in the market.

Wi-Fi emerging as Potentially Reliable Option:-

Connectivity options baby monitors support are at the forefront on convenience and reliability for users in the market. In this regard, wireless baby monitors are gaining popularity in various parts of the world. The better portability of these devices and their marked ease of connectivity are key factors their demand prominent. The segment is expected to contribute substantial revenue in the global market.

Banking on the popularity of Wi-Fi-based baby monitors, Dorel Juvenile, a global leader in juvenile products has on May 2018 unveiled Safety 1st HD WiFi Baby Monitor with Smart Audio Parent Unit, expanding its portfolio of home safety products. The device enables parents to monitor their babies—see and hear them—anytime, anywhere in high-definition video quality. Such product launches will expand the prospects of the market.

Security Concerns and Falling Birth Rate may mark Widespread Adoptability
Though technology advances form a key determinant of the attractive strides the baby monitors market is witnessing, mounting security concerns and malfunction of the devices may mar its prospects. Equally important, if not more, is the concern of false alarms or oversensitivity of these devices to pick up every single movement of the babies even when these are harmless. The declining birth rate in various parts of the world is also taking a toll on the expansion of the market.

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Nevertheless, several of these concerns are likely to be the taken in stride by the steady expansion of the baby monitors market. The growing awareness of the potential of these monitors among parents and families of expectant mothers will help in the expansion of the market in the coming years.

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Submitted by K Singha on Tuesday, 17 July 2018 at 9:40 PM
Category: Science & Research
 
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