Report : Asia Pacific Smart Baby Monitor Market Forecast to 2030 - Regional analysis - by Type (Video Monitor Device and Audio Monitor Device), Sales channel (Online and Offline), and Application Type (Home/Family, Hospitals, and Day Care)
At 9.6% CAGR, Asia Pacific Smart Baby Monitor Market is Speculated to be Worth US$ 546.31 Million by 2030, says Business Market Insights.
According to Business Market Insights' research, the Asia Pacific smart baby monitor market was valued at US$ 261.71 million in 2022 and is expected to reach US$ 546.31 million by 2030, registering a CAGR of 9.6% from 2022 to 2030. Rising number of corporate day care/childcare centers and rising population of tech-savvy millennial parents are among the critical factors attributed to the Asia Pacific smart baby monitor market expansion.
Governments of various countries across the globe support the growth of childcare services, and the announcement of public policies is supporting the development of day care/childcare centers globally. Additionally, the rise in employment of women worldwide is forcing parents to put their babies in childcare/day care centers during their absence at home. For example, the Government of India's" National Creche Scheme" provides day care facilities for the children of working mothers. This scheme is implemented under the Ministry of Women and Child Development and the creches that provide day care services to children in the age group of 0-6 years of working mothers in the community.
Different organizations are offering corporate childcare centers to help their employees focus on their work, alongside allowing them to monitor their babies in the office. The corporate childcare centers are managed or sponsored by employers. They are providing either in-house childcare centers or entering partnerships with local childcare centers to deliver special facilities to attract high-potential candidates and retain top-performing employees. For example, Goldman Sachs has been providing on-site childcare centers at their offices, and at locations where it is unable to offer on-site nursery facilities, the company has signed a partnership agreement with local childcare centers. Therefore, the rising number of corporate day care/childcare centers fuels the smart baby monitor market.
On the contrary, privacy concerns associated with smart baby monitor devices hampers the growth of Asia Pacific smart baby monitor market.
Based on type, the Asia Pacific smart baby monitor market is bifurcated into video monitor device and audio monitor device. The video monitor device segment held 72.8% market share in 2022, amassing US$ 190.58 million. It is projected to garner US$ 407.44 million by 2030 to expand at 10.0% CAGR during 2022-2030.
In terms of sales channel, the Asia Pacific smart baby monitor market is bifurcated into online and offline. The offline segment held 62.5% share of Asia Pacific smart baby monitor market in 2022, amassing US$ 163.65 million. It is projected to garner US$ 328.80 million by 2030 to expand at 9.1% CAGR during 2022-2030.
By application, the Asia Pacific smart baby monitor market is segmented into home/family, hospitals, and day care. The home/family segment held 74.4% share of Asia Pacific smart baby monitor market in 2022, amassing US$ 194.68 million. It is projected to garner US$ 419.71 million by 2030 to expand at 10.1% CAGR during 2022-2030.
Based on country, the Asia Pacific smart baby monitor market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the China captured 29.8% share of Asia Pacific smart baby monitor market in 2022. It was assessed at US$ 77.88 million in 2022 and is likely to hit US$ 172.32 million by 2030, exhibiting a CAGR of 10.4% during 2022-2030.
Key players operating in the Asia Pacific smart baby monitor market are VTech Holdings Ltd, Koninklijke Philips NV, Samsung Electronics Co Ltd, Panasonic Holdings Corp, Snuza, Dorel Industries Inc, NETGEAR, and Withings, among others.
- In March 2022, the brand of Dorel Maxi-Cosi launched a breakthrough range of innovative, smart, sensory nursery products, all controlled by one app. The products are designed to give parents confidence and peace of mind by allowing them always to feel connected and close to their baby.
- In January 2022, Samsung Electronics introduced the Samsung SmartThing Cam Plus, a smart baby monitor with Al-powered capabilities.
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