February 23, 2024
Video Baby Monitors Market

Rising Popularity of Smart Security Systems Is Anticipated To Open Up the New Avenue for Video Baby Monitors Market

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 Overview:

Video baby monitors enable parents and caregivers to monitor infants and toddlers remotely using audio and video technology. They allow caregivers to see and hear babies when they are out of the same room but nearby in the house. Video baby monitors transmit images and sounds from the baby’s room to a separate viewing device like a smartphone app or dedicated monitor. They help ensure children’s safety and allow quick response if they need anything.

Market Dynamics:

The increasing demand for convenient and easy to use baby care products is a key driver boosting growth of the video baby monitors market. Video baby monitors provide real-time access to babies without disturbing their sleep or playtime. This allows parents to remotely monitor babies while attending to other house chores or stepping out of the house for short durations. Furthermore, integration of advanced features like night vision, temperature monitoring, two way audio in video baby monitors is fueling their adoption. However, privacy and security concerns regarding video and audio data of babies stored on cloud networks may hinder market growth.

Segment Analysis:

The video baby monitors market is dominated by internet protocol (IP) based video baby monitors sub-segment. IP based monitors provide enhanced features such as high-definition video streaming, mobile connectivity, night vision and two-way communication. They offer flexibility and convenience to monitor the baby from anywhere through smartphones and other devices using internet connectivity.

PEST Analysis:

  • Political: Stringent regulations regarding the security and privacy of video and audio transmitted through baby monitors are enforced which boost innovation.
  • Economic: Rising per capita income and increasing women workforce are fueling the demand for advanced baby care products including video baby monitors for remote monitoring.
  • Social: Growing popularity of nuclear family system, working parents and birth rates are driving the sales of video baby monitors for ensuring safety of babies.
  • Technological: Integration of AI, IoT and cloud computing in baby monitors is enhancing features like advanced motion detection, two-way communication and round-the-clock monitoring.

Key Takeaways:

The Global Video Baby Monitors Market Demand is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for technologically advanced products with added connectivity and security features. North America dominated the market in 2023 with over 30% share owing to high birth rates and strong economy in the US and Canada. Europe remained the second largest market led by UK, France and Germany due to growing working women population. Asia Pacific is poised to be the fastest growing region on back of increasing disposable incomes, rising literacy rates and expanding e-commerce in countries such as China, India and Japan.

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. Companies are investing in R&D to integrate latest technologies like computer vision, motion detection and artificial intelligence in video baby monitors. They are also expanding product portfolios with multiple camera options, longer battery life and additional features to gain more customers. Security and privacy are a major focus area for key players.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it