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Report
North America Baby Monitors Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 112 Pages I Mordor Intelligence
The North American baby monitors market was valued at USD 659.58 million in 2021, and it is projected to register a CAGR of 9.44% during the forecast period 2022-2027.
Owing to the COVID-19 pandemic, front-line health workers in many countries, including the United States, turned to two-way baby monitors to interact with suspected or confirmed COVID-19 patients in isolation as a temporary solution. Additionally, various manufacturers are launching baby monitors and providing attractive discount offers to customers to increase their market penetration, primarily for online sales. In February 2021, Vacos announced the global launch (available in the United States, Amazon Store) of its first hackproof Baby Monitor, a breakthrough product offering customers an all-in-one intelligent way to keep tabs on their babies at home remotely.
Parents use baby monitors to stay updated on their baby's movement in their absence. Some customers use these monitors to hear the sounds from their baby's room, while some customers use them to keep watch on their children through video monitoring. Audio and video managers are used to watch the babies and kids.
An increase in the number of working parents and nuclear families has led to the higher adoption of baby monitors. Additionally, lifestyle changes, a rise in online retailing, and increased expenditure on baby safety, along with expenditure on baby care products, are key factors driving demand for the baby monitor market.
North America Baby Monitors Market Trends
Increasing Number of Working Parents Resulting in Hectic Life Schedules
The rising complexities of routines of today's parents and the need for infants to be observed frequently to avoid any kind of injuries or accidents cannot be overlooked. Today's parents, especially the working ones, need a device that can help monitor their child's activities even when they are away from their home or in another room. Employment trends from around the region indicate a growing number of parents, especially mothers, who work. The number of mothers participating in the workforce is increasing, with more of them aiming to keep close surveillance on the activities of their babies, even after keeping them in the care of someone else, thereby driving the demand for baby monitors. Nowadays, as parents work from home or engage in other household chores, they find it convenient to possess a monitor that helps track the activities of their babies without being in the same room as the baby. According to the US Census Bureau, 2020, out of about 11 million single-parent families with children under the age of 18, 80% were headed by single mothers. About two-thirds of single mothers are working outside the home at any one time, which is a slightly higher share than married mothers who are also working outside the home. Moreover, it makes parents' work easier, as they can simultaneously work and look after their babies, even if it is from a distant location. These factors are driving the market's growth.
Canada is the Fastest-growing Market
More parents in the Canadian market are willing to ensure the safety of their newly born, and the baby monitor market in the country is driven by an increased emphasis from manufacturers on offering innovative and new features to consumers in order to differentiate their products from existing offerings. In January 2020, baby monitor creator Nanit launched the concept of Membook, which allows parents to document saveable and shareable moments of a baby that have been recorded in the camera. With this innovation, the company has been to gain a higher interest from parents who wish to preserve their babies' first movements. The company also indicated immense growth in the last couple of years through its distribution agreements with Best Buy and Target.
North America Baby Monitors Market Competitor Analysis
The North American baby monitors market is consolidated as a majority of the share is held by the leading players. Active companies are involved in partnerships with local manufacturers and distributors operating in the market to establish a stronger presence in the regional market through the pre-earned reputation of local brands. This also helps them enhance their product portfolios with the technology used by these small players in order to increase their sales in the country. For instance, in December 2019, Miku announced its retail expansion with the launch of the Miku Smart Baby Monitor online at buybuybaby.com, target.com, bedbathandbeyond.com, bestbuy.com, and bestbuy.ca, as well as in select US and Canadian retail locations.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Audio Baby Monitor
5.1.2 Video Baby Monitor
5.1.3 Motion Sensor Baby Monitor
5.2 By Category
5.2.1 Wired
5.2.2 Wireless/Wi-Fi
5.3 By Distrbution Channel
5.3.1 Online Retail Stores
5.3.2 Offline Retail Stores
5.4 By Geography
5.4.1 United States
5.4.2 Canada
5.4.3 Mexico
5.4.4 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Dorel Industries Inc.?
6.4.2 Angelcare Monitors Inc.?
6.4.3 Samsung Electronics Co. Ltd?
6.4.4 Miku Inc.?
6.4.5 Koninklijke Philips NV?
6.4.6 Nanit?
6.4.7 Summer Infant (USA) Inc.?
6.4.8 VTech Communications Inc.?
6.4.9 Infant Optics?
6.4.10 Lenovo Group? Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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