Product customization is emerging as an effective way to enhance consumer base and increase market share for vendors
Technological advancements have led to the inclusion of several advanced features in baby monitoring systems, which keep parents connected with their babies from a remote location. Vendors have integrated devices with the latest technologies such as video transmission, Wi-Fi, and Bluetooth connectivity to connect them with smartphones, thereby providing parents continuous input of the baby’s activities. Also, the emergence of smart baby monitor with AI integration is aiding market growth worldwide. For example, Arlo’s baby monitor feature monitoring via Amazon’s Echo Show. Manufacturers are likely to integrate Google Assistant to sync the device with Google Home or Chromecast.
Further, vendors are working on product customization, which is emerging as an effective way to enhance the consumer base and increase the market share. Global vendors with wide infrastructure and R&D are rapidly expanding their footprint in the global interactive baby monitor market. Therefore, regional vendors may witness a tough competition in terms of reliability, technology, and price. The competitive landscape in the market is likely to remain intense with vendors trying to increase their product/service offerings through technological innovations, joint ventures, and mergers and acquisitions.
INTERACTIVE BABY MONITOR MARKET DYNAMICS
Rapid technological advancements likely to reduce commoditization and promote innovation in the market
The interactive baby monitor market is witnessing rapid technological transformations. The sale of smart devices has been proliferated due to multiple factors such as growing awareness about infant safety (SUID), increasing penetration of IoT in different sectors, the growing popularity of smart monitors, and increasing per capita income.
Smart wearable technology has been penetrating in the traditional monitor market. Rapid innovations and funding of new start-ups in the baby movement monitor market have facilitated introduction of new products in the interactive baby monitor market. Vendors are also including additional functionalities such as ECG monitoring, oxygen level and body temperature devices along with traditional motion sensing function. Such product differentiation offers an additional unique value proposition to tech-savvy consumers that are eager to obtain vital information about their babies.
Further, smart parenting bands such as Parent + Baby SmartBand by Project Nursery have also been gaining popularity among end-users in the last decade. In October 2016, Project Nursery introduced a smart band Parent + Baby SmartBand, specifically designed for parents. This smart band track functions such as logging important events and acts as a tracker for parents’ weight, hydration, exercise, sleep, and diet.
Therefore, rapid advancements in the technological sphere will push vendors to launch innovative products in the market, thereby reducing commoditization and promoting innovation in the market during the forecast period.
INTERACTIVE BABY MONITOR MARKET SEGMENTATION
The market research report includes detailed market segmentation by
INTERACTIVE BABY MONITOR MARKET PRODUCT
Audio and video monitor are witnessing high adoption due to the possibility of real-time interaction between parents and babies.
The interactive baby monitor market by product can be segmented into audio-only monitor, audio and video monitor, and movement monitor. The audio and video baby monitor segment dominated the market in 2018 and is expected to grow at a CAGR of around 13% during the forecast period. The segment is the largest revenue contributor to the market. Audio and video monitor are highly adopted due to the possibility of real-time interaction of parents with babies. These monitors comprise advanced features such as temperature sensing and heart rate monitoring.
The audio-only interactive baby monitor market is growing at a faster rate. The device enables the parent to listen to the baby’s sound, however, some devices are also equipped with a two-way talk-back feature. Audio only devices are gaining traction in the market due to low-cost.
Baby movement monitors are equipped with motion-detection or movement sensing features. They allow the parent to keep a check on the baby’s breathing and other vitals. Although these devices accounted for a small share in 2018 due to low awareness, the segment is expected to emerge as the fastest growing segment during the forecast period.
INTERACTIVE BABY MONITORS MARKET CONNECTIVITY
Corded baby monitor are expected to decline significantly as they are now perceived to be insecure for babies
The interactive baby monitor market by connectivity can be segmented into corded and cordless. In 2018, the cordless baby monitor market captured more than three-fourths of the market. Cordless baby monitoring devices are more portable than wired/corded types. The corded devices market, on the other hand, is expected to decline significantly as they are now perceived to be insecure for babies. Further, the death of babies due to the strangulation by wires/cords in the US has negatively affected their brand image in consumers’ mindsets.
INTERACTIVE BABY MONITOR MARKET TRANSMISSION
The digital segment captured around three-fourths of the market in 2018
The global market by transmission can be segmented into digital and analog. In terms of unit shipment, the digital segment captured around three-fourths of the market in 2018. A digital baby monitoring device scrambles the signal into a series of codes and sends an encrypted signal by using a 2.4 GHz frequency. Further, vendors are introducing new digital techniques such as Digital Enhanced Cordless Technology (DECT), which uses 1.9 GHz frequency that offers more privacy and limited interference than the digital baby monitor.
Analog transmission monitoring devices are becoming less popular. They use 49 MHz or 900 MHz frequency band, where chances of interference are quite high. Moreover, analog signals weaken as the distance increases between the transmitter and the receiver.
INTERACTIVE BABY MONITOR MARKET DISTRIBUTION
The entry of security device manufacturers in the market is driving the sale of baby monitoring devices through retail stores
The interactive baby monitor market by distribution can be segmented into retail and online. In 2018, the retail segment contributed to the highest market revenue to the global interactive baby monitor market. With the entry of security device manufacturers such as Lorex and camera manufacturers such as Samsung in the interactive baby monitor market, the sale of baby monitoring devices through retail stores such as child specialty stores and supermarkets has grown significantly. A large number of retail players such as Toys “R” Us, Graco, Babies “R” Us, Prenatal, Sear's, Wal-Mart, Tesco, Buy Buy Baby, Best Buy, and Costco have started to stock and showcase these products in their retail outlets, leading to the growth of interactive baby monitor market globally.
The online distribution channel is gaining prominence among end-users. It offers a wide platform to showcase products, compare them, and share feedback. Also, to promote their products, vendors offer their products at discounted prices in online stores. Further, online stores also include product bundles at low prices and enable the access of potential consumers to reviews.
INTERACTIVE BABY MONITOR MARKET GEOGRAPHY
North America is witnessing high demand due to the popularity of smart monitor among end-users
The global interactive baby monitor market by geography can be segmented into APAC, Europe, Latin America, MEA, and North America. The European market is growing at a significant rate. The European Union (EU) initiated the Horizon 2020 program, which is focusing on developing industrial leadership by evolving current manufacturing operations by leveraging on advanced computing, sensor technology, and robotics. These initiatives are aimed at boosting manufacturing industries, including interactive baby monitoring products.
North America is witnessing a high demand for interactive baby monitoring devices. The major reasons for high demand for these devices are the popularity of smart monitoring devices among end-users and the introduction of smart movement monitor by vendors.
The interactive baby monitor market in APAC is characterized by the demand for low-cost products. APAC is witnessing high growth in the number of middle-income families. These families are increasingly improving their lifestyles and adopting new consumer appliances such as baby strollers, interactive monitors, smart diapers, and others. Further, the consumer market in APAC, particularly in Southeast Asia, is poised to grow at a significant rate because of the increased spending power of buyers. Advances in lifestyle, coupled with rising consumer expenditure, are likely to increase the penetration of smart monitoring devices in APAC during the forecast period.
Latin America and MEA accounted for a market revenue share of about 4% and 3%, respectively in 2018. Further, the concept of baby monitoring technology has not gained popularity in several Middle Eastern, Latin American, and African countries. Thus, the market demand and penetration remain low in these regions. However, with vendors expanding their operations in these countries, the demand for these products will grow during the forecast period.
KEY VENDOR ANALYSIS
The interactive baby monitor market is characterized by the presence of diversified global and regional vendors. As global players are likely to increase their footprint in the market, regional vendors would be finding it increasingly difficult to compete with them. The market is moderately fragmented. On the one hand, there are global players providing baby monitoring devices with high functionality and designs, on the other hand, there are local vendors providing products with similar specifications at low prices, thereby intensifying the price competition. The competition will be based solely in terms of features such as quality, quantity, technology, services, and price. Dorel Industries, Lorex Technology, Motorola Mobility, Philips Avent, Samsung, Summer Infant are the leading vendors in the market.
The global interactive baby monitors market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Audio Only Monitors
- Audio and Video Monitors
- Movement Monitors
- Latin America
- North America