by Video baby monitors are electronic audio and video monitoring devices that allow parents or caretakers to monitor a child’s activity from a different location in real-time. They help in observing baby’s activities and sounds when parents are sleeping or doing household chores. Compared to audio-only baby monitors, video baby monitors provide added security and peace of mind to parents through live video streaming. They come with features like night vision, temperature monitoring, humidity monitoring, baby’s movement detection, two-way talkback and digital zoom. The growing working women population and busy lifestyle have increased the demand for video baby monitors globally.
The global 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 key trend in the video baby monitors market is the growing preference for smart electronic devices. Manufacturers are focusing on integrating advanced connectivity and smartphone compatibility features in video baby monitors. They are offering Wi-Fi and Bluetooth enabled monitors that allow monitoring baby through smartphone from anywhere. Features like motion detection alert, temperature monitoring, lullabies, zoom and pan give added convenience to parents. The rising internet penetration is further boosting the demand for smart video baby monitors among tech-savvy parents globally.
Porter’s Analysis
- Threat of new entrants: Low- Moderate level of threat as this market requires substantial investments in R&D and branding to gain customers’ trust. However, ease of entry for new companies via online retail platforms provides opportunities.
- Bargaining power of buyers: Moderate – Buyers have many options to choose from leading brands as well as smaller companies. Switching costs are low as quality and features are important decision factors.
- Bargaining power of suppliers: Low – Dominated by few component suppliers for cameras, displays and connectivity chips. Suppliers do not have pricing power due to availability of substitutes.
- Threat of new substitutes: Moderate – Potential threat from substitutes like baby audio monitors, wearable trackers and connected home devices that offer complementary features.
- Competitive rivalry: High – Intense competition among global and regional players. Companies differentiate through constant innovation in features, connectivity and pricing.
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 demand for remote baby monitoring and connectivity features by parents.
The North America region currently dominates the market owing to high awareness levels and early technology adoption among parents. Asia Pacific is expected to showcase fastest growth in the forecast period backed by rising birth rates, increasing disposable incomes and growing online sales in the region.
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., Angelcare Monitor Inc. Motorola and Samsung captured over 30% of the global market share due to strong brand recall and continuous innovations.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
