Report : Smart Baby Monitor Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Video Monitor Device and Audio Monitor Device), Sales Channel (Online and Offline), and Application (Home/Family, Hospitals, and Day Care), Geography
According to the new research report titled “Smart Baby Monitor Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 1,815.31 million by 2028 at a CAGR of 8.0% from 2021 to 2028.
The smart baby monitoring market in APAC is further segmented into China, India, Japan, Australia, South Korea, and Rest of APAC. China is contributing a considerable share to the overall smart baby monitoring market in APAC. Rise in disposable income and the betterment of internet infrastructure in Asian countries are the key forces allowing individuals to purchase high-end products, including smartphones, laptops, wearables, and tablets. China, India, Indonesia, and Japan have a large number of smartphone users. Currently, there is a high demand for cost-effective and smart electronic devices such as baby monitoring devices. Policymakers and regulators in both developed and developing countries in APAC are creating a favorable growth and investment environment for the development, adoption, and application of advanced technologies such as artificial intelligence (AI) and the Internet of things (IoT).
Continuous rise in population and increase in income levels of the middle- and upper-class populations are the significant factors contributing to the baby monitor market growth in APAC. Increasing number of working women, mainly in the developing countries in the region, and mounting potential of smart baby monitor manufacturers, indulged in offering a wide variety of products to meet the increasing consumer demands, also support the market growth in this region. Use of baby monitors allows working parents to keep a track of their babies and caretakers. The increasing number of nuclear families, working parents, and single parents across the region are among the prime conditions compelling manufacturers to develop advanced baby monitoring systems to address parents’ concerns regarding baby care and safety during their absence.
Further, the COVID-19 containment measures undertaken by the governments in this region have negatively affected the electronics sector. China is the leading manufacturing country in this region and is among the worst-hit country along with India which has ultimately impacted the production of electronics equipment. Moreover, due the interruption in supply chain and logistics the procurement rate of various electronics equipment including hardware components of smart baby monitors has been quite affected. India, South Korea, Japan, and Vietnam have witnessed a sharp decline in new projects. Hence, ongoing disruptions in supply of raw materials & components and increasing demand from China & other Asian countries are expected to impact the growth of the smart baby monitor market in coming quarters.
Key Findings of Study:
The smart baby monitoring device manufacturers are investing in the integration of AI technology with their offerings. The integration of AI confers various intelligent features to the systems, such as baby cry detection, humidity and temperature measurements, and smart alerts, along with advanced speaker and microphone competencies for recording, singing, or storytelling; it also allows to replay the recordings with high quality. It alerts parents through a wake-up light and night light that help them in changing diapers without startling the baby during the nighttime. For instance, KamiBaby integrates edge computing technology with its baby monitors, which records the moments and shares them with loved ones. The integration of such advanced technologies with smart home devices allows parents to see their baby on Google Assistant devices and Amazon Alexa equipped with displays. Other features of KamiBaby devices include sleep summary of baby, livestream video sharing, two-way talk, 360-degree high-quality speakers, temperature and humidity sensors, built-in night light, and kami cloud and SD card storage, and FHD 1080P premium image quality. Thus, the development of AI-based smart baby monitors is emerging as a key trend in the market.