LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global smart connected baby monitors market to grow at a CAGR of over 23% during the forecast period, according to their latest market research report.
Adoption of distribution channel expansion strategies is one of the major trends being witnessed in the global smart connected baby monitors market 2019-2023. Vendors are adopting various strategies to expand their customer base and rake in higher revenues. The expansion of distribution strategy is one of the popular strategies they have adopted. Companies are focusing on expanding their business globally. Several vendors are forging partnerships with brick-and-mortar stores along with e-commerce retailers.
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According to Technavio analysts, one of the key factors contributing to the growth of the global smart connected baby monitors market is the innovation in technology and product features leading to premiumization:
Global smart connected baby monitors market: Innovation in technology and product features leading to premiumization
Many players in the market are integrating their smart connected baby monitors with features such as temperature monitoring, remote monitoring, humidity history, and noise detection. Mobility is the primary advantage of wireless smart baby monitors. This allows parents to keep a watch on their babies from all corners of the house and even from outdoors.
According to a senior analyst at Technavio for research on household appliances, “Smart baby monitors with Wi-Fi connectivity have cameras that capture images of the baby at all times. Changes in room temperature can be tracked by smart connected baby monitors with Wi-Fi connectivity and viewed on smartphones and tablets. This enables parents to maintain room temperature at the desired level. Factors such as enhanced technological infrastructure and increasing adoption of innovative and niche baby products are contributing towards market growth.”
Global smart connected baby monitors market: Segmentation analysis
The global smart connected baby monitors market research report provides market segmentation by end-user (residential and commercial), by product (audio and visual monitors, and audio monitors), distribution channel (offline and online), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The residential segment held the largest market share in 2018, and is expected to dominate the global market throughout the forecast period. The Americas led the market in 2018 and is expected to dominate the market through 2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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