Baby Monitors Market is anticipated to grow at a CAGR of 8.5% during the forecasted period (2020-2025).
- Baby monitors are predominantly used by most new parents, mainly those who are working to keep a watch on their newborn babies.
- With the increasing concerns about the cyber-security risks of digital devices including baby monitors, governments of various countries are developing regulations that in turn will increase the customer reliability on these products.
Key Market Trends
Growing Number of Working Mothers
In most countries, men tend to participate in labor markets more frequently than women. All over the world, labor force participation among women of working age increased substantially in the last few years. In some parts of the world, the historical increase in female labor force participation has slowed down or even regressed slightly in recent years. Women all over the world allocate a substantial amount of time to activities that are not typically recorded as economic activities. Hence, female participation in labor markets tends to increase when the time-cost of unpaid care work is reduced, shared equally with men, and/or made more compatible with market work. The growing participation of women including mothers with newborn babies has led to the growth in sales of monitoring devices including baby monitors.
North America Holds A Prominent Share in The Market
North America is dominating the global baby monitors market and is expected to continue this trend in the near future. This growth is mainly due to the rising trend of nuclear families, increasing spending capacity of people, and a growing awareness of the advantages provided by these devices. The growth is also attributed to the advancement of these devices and rising personal equity investment specifically in the electronics sector in developed markets such as the United States and Canda. Furthermore, the region is also anticipated to witness increasing awareness in parents regarding childcare and strong retailing.
Global baby monitors market is a fragmented market with the presence of major players and small regional players. The major players in the market are Samsung Electronics Co. Ltd., LOREX Technology Inc., Koninklijke Philips N.V., Sony Corporation, Angelcare Monitors Inc., etc. Players are bringing variations in the market to attract more customers in the market.
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