Video baby monitors enable parents and caregivers to monitor infants remotely using wireless cameras and displays or smartphones. They provide live audio and video streaming for keeping a watch on babies when parents are in another room or area.
The global Video Baby Monitors Market is estimated to be valued at US$ 1.47 Billion 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:
One of the key trends in the video baby monitors market is the emergence of Wi-Fi enabled monitors. Wi-Fi enabled monitors allow parents to monitor their babies using smartphones or tablet apps from anywhere. They provide flexibility to check on babies even when parents are away from home. The apps offer features such as pan and tilt functionality, lullabies, two way talk etc. The growing adoption of BYOD (Bring Your Own Device) is expected to drive the demand for Wi-Fi enabled video baby monitors during the forecast period.
SWOT Analysis
- Strength: Video baby monitors provide convenience and peace of mind for parents to monitor their babies remotely. They allow two-way communication for parents to soothe and talk to their babies from another room.
- Weakness: Some video baby monitors have limited range and parents may face connectivity issues if they move far away from the baby monitor. The video and audio quality can also vary depending on the product.
- Opportunity: The growing working women population and nuclear families are fueling the demand for advanced baby care products for round-the-clock monitoring. Upgrading to smart video baby monitors with additional features provides an opportunity.
- Threats: Privacy and security concerns over hacking and surveillance are threats. Technology changes rapidly which can make some video baby monitors obsolete quickly.
Key Takeaways
The global video baby monitors market is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing women workforce participation and changing family structures.Regional analysis: North America dominates the global video baby monitors market currently due to high penetration of smart home devices. Asia Pacific is expected to be the fastest growing market attributed to the growing middle class population in countries such as China and India.
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.