“Next Generation Baby Monitors Market: Global Demand Analysis & Opportunity Outlook 2024”
Next generation baby monitors market is segmented into distribution channel such as online store, offline store. Among these segments, online store segment is expected to occupy the top position in the market. Further, the rising traction of online store segment is backed by growing penetration of online retailers along with wide availability of baby monitors devices. Additionally, spiked penetration of internet of things in consumer electronic devices is envisioned to foster the growth of next generation baby monitors market globally by 2024.
Global next generation baby monitors market is expected to register a robust CAGR over the forecast period. Moreover, the global next generation baby monitors market is predicted to expand at exponential sales by the end of 2024. The market is expected to expand on the back of rapid urbanization and increasing per capita income spending on child care products.
North America and Europe are the most prominent regional market of next generation baby monitors in 2016. This growth of both the regions is attributed to the increase in research development activities by major vendor and both the regions are early adopters of advance technology. Moreover, growing adoption for smart baby monitors by parents to watch their baby activities is expected to boost the demand for next generation baby monitors.
Technological Advancement in baby monitors
Spiked penetration of internet of things in baby monitoring devices along with adoption of smart technology is bolstering the growth of next generation baby monitor market. Growing adoption of smart technology for monitoring purposes and integration of numerous sensors into next generation baby monitor to provide various details such as sleep activity, body position, skin temperature and others is likely to surge the demand for next generation baby monitors.
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Swelled disposable income
Rapid urbanization coupled with increasing per capita income of the population is believed to augment the demand for next generation monitors. Furthermore, growing adoption of wearable technology and rising popularity of next generation baby monitors are fuelling the demand for next generation baby monitors. These factors are projected to elevate the growth of next generation baby monitors market by 2024.
However, high cost associated with the next generation baby monitors is expected to hamper the growth of next generation baby monitors market. Moreover, lack of awareness regarding wearable baby monitors is predicted to dampen the growth of Next Generation Baby Monitors Market.
The report titled “Global Next Generation Baby Monitors Market Outlook 2024” delivers detailed overview of the global next generation baby monitors market in terms of market segmentation by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global next generation baby monitors market which includes company profiling of Daatrics Ltd, Rest Devices, Inc., MonDevices., Sproutling Inc., Owlet Baby Care Inc., and Snuza Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global next generation baby market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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