The global Video Baby monitor 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 from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Video baby monitors allow parents and caregivers to monitor infants from distant locations using live video streaming. They transmit audio and video signals from the baby’s room to a dedicated monitor or to a smartphone or other compatible device. This provides greater convenience than basic audio monitors and also allows parents to visually check on the baby. The real-time video transmission ensures better surveillance of babies and greater peace of mind for parents. They help prevent unsafe situations by alerting parents about the baby’s behavior, cries, or any abnormal activity through a camera.
Market key trends:
Connectivity and smart features are major trends in the market. Manufacturers are offering Wi-Fi and app-enabled monitors that allow access from anywhere using a smartphone or other devices. Smart video baby monitors have advanced capabilities like temperature and humidity monitoring, two-way communication, lullabies, night vision, zoom and pan features. Apps provide additional functionalities like viewing multiple cameras, activity logs, alerts and notifications. These smart connectivity features are gaining popularity among parents and bolstering demand in the market.
- Threat of new entrants: The threat of new entrants in the video baby monitors market is low as the market is already dominated by major established players. New entrants require significant investment in research and product development to develop innovative products with advanced features.
- Bargaining power of buyers: The bargaining power of buyers is moderate in the video baby monitors market. Since there are many established brands offering a wide range of products at varying prices, buyers have adequate choices and can compare products on the basis of features and prices.
- Bargaining power of suppliers: The bargaining power of suppliers is low in the video baby monitors market. This is because there are many suppliers for raw materials and components used in manufacturing video baby monitors such as camera sensors, chips and displays.
- Threat of new substitutes: The threat of new substitutes is low in the video baby monitors market since there are no direct substitutes for video baby monitors used for monitoring babies remotely.
- Competitive rivalry: The competitive rivalry in the video baby monitors market is high among the major established players. Companies compete on the basis of product offerings, pricing, technological innovations and brand positioning.
The Global Video Baby Monitors Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing urbanization and rising disposable income of consumers.
The North America region currently dominates the video baby monitors market and is expected to continue its dominance over the forecast period. Asia Pacific region is projected to be the fastest growing market for video baby monitors owing to increasing population and growing affluence.
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.
Motorola Mobility LLC, Samsung Electronics Co. Ltd., and Lorex Technology Inc. are some of the top-selling brands in the global video baby monitors market. Motorola offers high quality monitors at affordable prices while Samsung offers advanced features like artificial intelligence and internet connectivity in their monitors.
The North America region currently leads the global video baby monitors market with the largest share. The availability of innovative products from established brands and growing nuclear families drives the market in the region. Europe is the second largest market for video baby monitors owing to high consumer disposable incomes in countries like Germany, UK and France. Asia Pacific region is projected to witness the highest growth during the forecast period with China, India and Japan being major emerging markets. Rising living standards, growing working women population and increasing awareness about child safety are fueling the demand for video baby monitors in Asia Pacific region.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it