LONDON--(BUSINESS WIRE)--The advanced baby monitor market size is poised to grow at a CAGR of close to 11% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report.
Advanced baby monitors belong to a new category of baby monitors, which includes a wide range of audio and video monitors. Moreover, innovation and fundings have led to the introduction of products with advanced functionalities. These include heart activity, oxygen level, and temperature monitoring. For instance, Owlet Baby Care Smart Sock 2 advanced baby monitor tracks the heart rate and oxygen levels of the baby. Owlet’s app also offers live readings using historical heart and oxygen information.
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As per Technavio, the product differentiation through product bundling strategy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Advanced Baby Monitor Market: Product Differentiation through Product Bundling Strategy
Product bundling is a strategy that allows vendors to offer two or more products or services together at a combined price. This strategy helps vendors to differentiate their products and provide enhanced value to the customer. For instance, Owlet Baby care offers Owlet Smart Sock + Cam as a bundled product, priced at USD 399. Therefore, with product bundling, the market is expected to register to witness significant growth during the forecast period.
“Other factors such as the shift in consumer lifestyle, and the easy access to distribution channels through omnichannel strategy will have a significant impact on the growth of the advanced baby monitor market during the forecast period,” says a senior analyst at Technavio.
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Advanced Baby Monitor Market: Segmentation Analysis
This market research report segments the advanced baby monitor market by product (under-the mattress, diaper attachment, smart wearable) and geographical regions (APAC, EMEA, and the Americas).
The EMEA region led the market in 2018, followed by the Americas and APAC, respectively. The growth of the advanced baby monitor market share in EMEA can be attributed to several factors such as the growing awareness of SIDS, improvement in living standards, increase in urbanization, and rise in Internet and smartphone penetration.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
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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