WEEK 6

 

BABY MONITOR MARKET

According to the Allied Market Research, the baby monitor market was worth 1.2 billion in 2019 and is expected to increase to 1.9 billion by 2027, with a CAGR of 5.4 percent between 2020 and 2027. Because of the development of the worldwide electronic industry and the rise of digitalization, the global baby monitor market is booming. Additionally, the rise in dual-working households and the number of working women are two important reasons driving the demand for the baby monitors. However, the expensive cost of cameras, particularly in emerging economies, stifles industry expansion. 

Figure 1 show the baby monitor market by product type 

From figure above, we can see the video segment currently dominates the global market and is anticipated to remain so for the foreseeable future. Due to an increase in consumer demand for smart video monitors, the video monitor market accounted for a greater values share in 2019. 

Figure 2 show  the baby monitor by connectivity 

The market is segmented into wired and wireless segments based on connection. Because of the increased demand for wireless smart monitors, the wireless monitor held a larger part of the baby monitor market in 2019. 

Figure 3 show baby monitor market by distribution channel

The baby monitors market is divided into retail stores, supermarket or hypermarket, specialty stores and E-commerce based on distribution channel. The baby monitors market's retail shops segment generated the most revenue in 2019, owing to an increase in the number of retail outlets in both urban and rural locations around the world. Furthermore,, the availability of many types of monitors in these retail stores is a crucial element driving baby monitor sales through retail stores.