Child care has become the need of the hour with increasing percentage of working population across the globe. For instance, according to US Bureau of Labor Statistics, about 40% of the population was actively working in 2014 and this percentage is expected to increase at an alarming rate. Considering population in the age group of 25 to 54 years, by 2018 end, the percentage of working population is expected to reach 64% and by 2024, it is expected to touch 63.9%.
This has necessitated increasing demand for child care across the globe. Governments are initiating child safety measures. Child Care and Development Block Grant was reauthorized to provide additional safety and protection for babies. Gradual improvement has been observed with respect to enhancement of child care standards. This has given enough fuel to develop advanced child safety devices such as baby monitors that ensure safety of babies and offer reassurance to parents.
Fact.MR has analyzed the demand for baby monitors and has projected that the sale of baby monitors is expected to grow at a rate of 8.4% during the period of assessment, 2017-2026. By end of the year of assessment (2016), market valuation of baby monitors is anticipated to touch a significant estimation, owing to increasing demand for baby monitors from working parents as well as baby care centers. According to Fact.MR, the volume of baby monitors expected to be sold by 2026 end is around 11,900,000 units.
With increasing preference for baby monitors, manufacturers such as Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Platinum Angelcare, Sony Corporation, and VTech have been striving to innovate their products to make them more connected and safe. For instance, Koninklijke Philips has introduced uGrow interactive application, the first medical application that syncs with Philips Avent smart ear thermometer and Philips Avent smart baby monitor via Bluetooth. In the coming year, this application will work with smart feeding kit that would monitor baby’s feeing schedule, including time, duration and volume.
Premiumisation via Innovations and Developments in Features
Technological innovations has taken baby care products as a whole to a whole new level. Baby monitoring has gained high steam with introduction of novel products, for instance smart baby monitor with wall mount camera that provides sleep track, two way audio, temperature monitoring, real time notifications and humidity monitoring.
These smart baby monitors allow remote monitoring as well as noise detection. With introduction of wireless technology, it has become convenient for parents to keep close watch, with the main advantage of this technology being mobility. Such developments are expected to trigger sales of baby monitors in the years to follow, thus aiding the growth of the global baby monitor market.
In addition, with emergence of Internet of Things (IoT), connected monitoring has become possible. Baby monitors with integrated solutions such as interactive monitoring are compatible with laptops, tablets and smartphones. Applications that run on these devices directly connect the users to the monitoring system.
With this, the user can keep a check on room temperature, sound, movements as well as can carry out two way communication. In addition, with Wi-Fi connectivity, baby monitors can provide entire view of the baby at any point in time. Such innovative advances have triggered the use of baby monitors across regions in the globe.
Moreover, online retailing has played a major role in the distribution of baby monitors. Online retailing has enhanced the visibility these products that has made them accessible across geographies. E-retailing has witnessed faster adoption owing to its cost effective and time saving benefits, and this trend is expected to spur the sale of baby monitors in the coming future.
Know More Details About the Report
Fact.MR has carried out an extensive research on baby monitors market and has represented all insights and key market highlights in a systematic format in its recent research publication named global baby monitors market. The research report includes deep insights on various aspects that have an influence over the growth of the global market for baby monitors. These aspects include trends, drivers, developments and opportunities that have a positive impact on the sale of baby monitors and in turn on the growth of the overall baby monitors market. Also covered in this research report are the market restraints and challenges that hinder the growth of the baby monitors market. The magnitude of these aspects have been analyzed across regions, as they differ from region to region, thus portraying an in-depth deep dive in the global market for baby monitors.
360 degree outlook
Research report on baby monitors market follows a 360 degree outlook. Key regions in the world are evaluated and various facets of the baby monitors market across these regions are identified and scrutinized. This presents a global holistic perspective in front of the reader that can support him/her in gaining a thorough market understanding on various baby monitors market segments and their respective scenario across key regions in the globe. With such market intelligence the reader can expect to gain insights on the major revenue pockets, be it a new geography to tap or an upcoming market segment to capitalize on. In addition, the analysis and scrutiny entailed in this extensive research report is devoid of bias, thereby delivering a 360 degree value addition to the reader.
Unique research methodology
Fact.MR follows a comprehensive research process to garner vital insights and glean statistical data on the global market for baby monitors. The research process begins with a high level secondary research, during which overall market aspects are classified, providing a direction based on which the research process continues. Simultaneously, primary research is carried out to obtain detailed insights on the gathered data. Several primary interviews are conducted, wherein market observers, market participants, subject matter experts and market specialists are interviewed. Market statistics pertaining to each segment of the baby monitors market is gathered and verified in the consecutive steps in primary research. This gives additional credibility to the researched data with respect to higher exactness, offering data with a near to 100 percent accuracy.
Detailed analysis on players involved in baby monitors market
The research report on global baby monitors market includes a separate section on competitive landscape that covers highlights regarding various key players and vendors operating in the market. Incisive highlights on product portfolio, strategies, product developments, product innovations, SWOT analysis, market shares and other key financials of players has been covered in this section. This section can support the reader in slating key strategies by making informed decisions on the next steps to gain competitive advantage in the years to follow.
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Such a systematic intelligence framework provided by Fact.MR can support the reader’s challenges with respect to market research. This analytical research report offers actionable insights on every market facet along with a forecast analysis for a period of nine years, starting from 2017 till 2026. Readers of this research report can identify major opportunities for growth and expansion, in order to establish global footprint and develop their respective businesses.
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What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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