logo
logo
Sign in

Video Baby Monitors Market Report: Assessing Regional Market Dynamics

avatar
Puja Gaikwad
Video Baby Monitors Market Report: Assessing Regional Market Dynamics

Video baby monitors are devices used to monitor infants and children, usually at home, using video and audio media either wirelessly or via internet. They consist of a small camera unit with a micro display which parents can carry with them to keep an eye on their baby when they are not in the same room. They provide parents peace of mind and allow them to check in on their baby from anywhere in the home.

The 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 key trends:

The demand for smart baby monitors is witnessing increasing demand owing to advanced features like connectivity to WiFi and smartphones. Smart video baby monitors allow parents to view the live video feed of their baby on their smartphone app from anywhere. They also integrate features like motion, audio and temperature sensors which send alerts to parents' smartphones. The connectivity to smartphone and smart features add convenience for modern parents. Manufacturers are also developing monitors integrated with AI technology to provide additional safety features such as motion detection, breathing monitoring and cry detection

Porter’s Analysis

Threat of new entrants: Low capital requirements and brand recognition give established market players an advantage over new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but brand loyalty gives some players competitive advantage.

Bargaining power of suppliers: A few major component suppliers exist giving them some power over prices.

Threat of new substitutes: Threat from audio-only baby monitors is low due to enhanced features of video monitors.

Competitive rivalry: Intense competition exists between key players to launch innovative products with additional features.

SWOT Analysis

Strengths: Enhanced safety and supervision for infants, two-way audio/video capability, additional features like temperature sensors.

Weaknesses: Technical glitches, high initial costs, privacy/security concerns if not used carefully.

Opportunities: Expanding modern parenting trends, rising birth rates in developing nations, integration of AI technologies.

Threats: Innovation in alternate monitoring devices, data security regulations, economic downturns affecting discretionary spending.

Key Takeaways

The global video baby monitors market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing health concerns for newborns. North America dominated the market in 2022 due to rapid adoption of advanced baby care devices in the region. The market in Asia Pacific is expected to grow at fastest rate during the forecast period owing to the rising birth rate coupled with increasing awareness.

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., and Angelcare Monitor Inc. These established manufacturers focus on innovations and acquisition activities to strengthen their market position.

collect
0
avatar
Puja Gaikwad
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more