Albany, NY -- (SBWIRE) -- 05/16/2017 -- Global Baby Monitors Market: Overview
To stay on top of the game, savvy manufacturers in the global market for baby monitors are expending a lot of energy on research and development to come up with more sophisticated products. This is further intensifying competition in the market. A report by Transparency Market Research finds the global market for baby monitors to be a consolidated one. As per the report the top five companies held about 60% share in the market in 2015. Among the top five, Motorola Solutions, Inc. beat others with a maximum market share of 19.8% in the same year. The report predicts the global market for baby monitors to attain a value of US$1,291.8 mn by 2024 from US$876.8 mn in 2015 by rising at a modest CAGR of 4.4%.
Among the baby monitors available in the market, the wireless ones hold a sway over the market by far surpassing the market share of the wired ones.
This 156 page report gives readers a comprehensive overview of the Baby Monitors market Browse through 41 data tables and 39 figures to unlock the hidden opportunities in this market.
Global Baby Monitors Market: Drivers and Restraints
At the forefront of driving growth in the global market for baby monitors is the rising trend of both sets of parents working. This has led to the proliferation of day care centers that take care of infants in the absence of parents. This, in turn, has provided a major fillip to the sales of baby monitors which day care centers bank on to look after toddlers and infants more effectively. Proliferation of ecommerce platforms along with the availability of a wide array of products has also boosted the market significantly. Increasing knowledge of sudden infant death syndrome (SIDS) is another factor helping sales.
Falling birth rates and concerns about safety and security of baby monitors which can be hacked, on the contrary, is countering the growth in the market.
The various types of baby monitors available in the market are pan and tilt baby monitors, audio baby monitors, and fixed video baby monitor. Of them, the fixed baby monitors contributed to about 45% of the overall revenue in 2015. Going forward too, the segment is predicted to hold on to its leading position on account of the superior features of fixed video baby monitors, including temperature sensing, the possibility of real-time sound and video transmission, talk-back, and heart rate monitoring.
The pan and tilt baby monitors would also witness steady sales in the foreseeable future on account of advantages such as instant temperature alerts and easy rotation of camera that accords a proper view of the baby's play area.
Global Baby Monitors Market: Geographical Segmentation
Geography-wise, North America holds a leading position in the global market for baby monitors owing high spending capacity of people, prominence of nuclear families, and increasing knowledge about the purposes served by the devices. North America is trailed by Europe in terms of market share. Germany and the U.K. manufacture maximum baby monitors in Europe, whose market is primarily driven by the emergence of better devices and increasing private equity investment in the electronics sector.
In the next couple of years, however, Asia Pacific will outshine all other regions vis-à-vis growth rate. Increasing per-capita incomes, changing lifestyles, growing awareness in parents about childcare, and powerful retailing will bolster the market in the region.
Global Baby Monitors Market: Competitive Landscape
Important participants in the global baby monitors market profiled in the report are Dorel Industries Inc., Samsung Electronics Co. Ltd., LOREX Technology Inc., Angelcare Monitors Inc., VTech Holdings Ltd., Summer Infant Inc., Sony Corporation, and Koninklijke Philips N.V.
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Major regions analyzed under this research report are:
-Rest of Europe
-Rest of APAC
-Rest of the World (RoW)
-Middle East & Africa
This report gives you access to decisive data such as:
-Market growth drivers
-Factors limiting market growth
-Current market trends
-Market projections for the coming years
Key highlights of this report
-Overview of key market forces propelling and restraining market growth
-Up-to-date analyses of market trends and technological improvements
-Pin-point analyses of market competition dynamics to offer you a competitive edge
-An analysis of strategies of major competitors
-An array of graphics and SWOT analysis of major industry segments
-Detailed analyses of industry trends
-A well-defined technological growth map with an impact-analysis
-Offers a clear understanding of the competitive landscape and key product segments