The global smart baby monitor market size is expected to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.4% over the forecast period. Increasing number of working mothers, along with rising awareness about child safety, is driving the market over the world. The product is capable of enabling the parents to communicate with their children in real-time and track their movements.
The audio and video segment accounted for the largest share of more than 75.0% in 2018. These products not only provide live video of the child but also track activities, nap, and feeding schedule of the baby. Innovative features including temperature sensors, automatic notifications, two-way audio, and in-built lullabies provided by these smart baby monitors have been attracting the consumers.
Wearable movement tracker has gained significant importance among the parents. These trackers provide information about the room temperature, sleep pattern, heart rate, oxygen levels, and temperature of the baby. The manufacturers of infant products have been entering the market by integrating tracking devices in their products. For instance, Kimberly-Clark (Huggies) launched a smart diaper, which is equipped with a sensor that connects to Bluetooth. Huggies partnered with Monit, a South Korean company, for the manufacture of this product.
North America held the largest share of more than 45.0% in 2018. The region is expected to maintain its lead over the next few years owing to high penetration of working parents and increased adoption of innovative technology in U.S. and Canada. In addition, presence of several key manufacturers including Dorel Industries Inc.; iBaby Labs, Inc.; NETGEAR Inc.; Lorex Technology Inc.; and Angelcare Monitor Inc. has boosted the growth of the industry.
Major competitors of this industry include Samsung Electronics Co., Ltd., Motorola, Inc., Dorel Industries Inc., iBaby Labs, Inc., NETGEAR Inc., Summer Infant, Inc., VTech Communications, Inc., Lorex Technology Inc., Angelcare Monitor Inc., and Safety 1st. Over the past few years, manufacturers have been focusing on product development to gain a competitive advantage. For instance, in February 2017, VTech Communications, Inc. introduced two new Wi-Fi compatible high-definition products VM991 and the VM981 Video Monitor. These products have a touchscreen parent unit and connected with a new MyVTech Baby app.
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