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. AI-based smart baby monitors are likely to remain a key trend in the market.
The growing need for smart home solutions, an increasing number of working parents, and strategic initiatives by market players are driving the market. The market is projected to expand at a significant pace during the forecast period, due to the rising number of corporate daycare/childcare centers. Moreover, the rising population of tech-savvy millennial parents and the development of various childcare are creating lucrative opportunities for the market.
A smart baby monitor enables parents to watch, talk to, and soothe their child from anywhere. It keeps track of a baby's heart rate, sleeping patterns, the surrounding temperature, and others. A smart baby monitor uses many sensors to assess the baby and alert the parents of any changes. 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. It is becoming difficult for single-parent and double-income households to manage office work and household chores. Thus, they are hiring nannies to take care of their babies while they are at work, which demands the installation of baby monitors to keep a watch on both nannies and babies.
The rising adoption of smart home solutions contributes to the growth of the smart baby monitor market. Baby monitors help parents understand their baby's sleep and routine. Continuous monitoring of the baby's activities helps parents to analyze the baby's health condition. Such benefits offered by smart baby monitors fuel the adoption of smart baby monitors in France. In France, the increasing number of working parents, coupled with online retail trends, is providing enhanced accessibility and convenience and improved spending on advanced baby care products, including smart baby monitors.
The countries such as China, Canada, the US, Germany, India, and France, among others, have various forms of childcare centers, such as nurseries (for children aged under 3), preschools (for children aged 3–7), childminders/nannies (for all children), and after-school care (for children attending primary school). Working parents are constantly worried about their children's well-being, which drives their inclination toward technological solutions that can help them provide constant attention to their children. In addition, many international businesses have chosen Germany to expand their business as Germany has a strong economy. Thus, the workforce in Germany has increased, which has further fueled the number of working women in the country. Thus, the rise in the number of working women fuels the demand for smart baby monitors to monitor their babies when they are away.
Key segments that contributed to the derivation of the smart baby monitor market analysis are type, deployment, sales channel, and application.
The geographic scope of the smart baby monitor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The market in Asia Pacific is projected to expand during the forecast period, due to the rise in childbirth in countries such as China, India, and Japan. In January 2016, the government of China decided to end the one-child policy. This factor led to the rise in childbirth in the country, acting as one of the driving factors for the smart baby monitor market. Furthermore, the government aims to invest tremendously in IoT, wireless networks, AI, and other technologies, which has developed the awareness of these technologies in the country. Therefore, the market players are integrating these technologies into their products to gain more customer base. For example, in February 2023, bonoch launched a long-range baby monitor that offers full house coverage and does not require a Wi-Fi connection.
The regional trends and factors influencing the Smart Baby Monitor Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Baby Monitor Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1.22 Billion |
| Market Size by 2030 | US$ 2.28 Billion |
| Global CAGR (2022 - 2030) | 8.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Smart Baby Monitor Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Smart Baby Monitor Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The smart baby monitor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart baby monitor market are listed below:
The “Smart Baby Monitor Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The global smart baby monitor market is estimated to register a CAGR of 8.1% during the forecast period 2022–2030.
The global smart baby monitor market is expected to reach US$ 2.28 billion by 2030.
The key players holding majority shares in the global smart baby monitor market are Fortinet Inc, Sophos Ltd, Cisco Systems Inc, Juniper Networks Inc, Huawei Technologies Co Ltd, Barracuda Networks, Inc., WatchGuard Technologies Inc, Stormshield SAS, SonicWall Inc, and Check Point Software Technologies Ltd.
North America dominated the smart baby monitor market in 2022.
Growing need for smart home solutions, increasing number of working parents, and strategic initiatives are the major factors that propel the global smart baby monitor market.
AI-based smart baby monitors to play a significant role in the global smart baby monitor market in the coming years.