Report : Asia-Pacific Smart Baby Monitor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Video Monitor Device and Audio Monitor Device), Sales Channel (Online and Offline), and Application (Home/Family, Hospitals, and Day Care)
Home/Family Segment to Dominate APAC Smart Baby Monitor Market during 2020–2028
According to a new market research study on “APAC Smart Baby Monitor Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Sales Channel, and Application” is expected to reach US$ 395.02 million by 2028 from US$ 194.32 million in 2020. The market is estimated to grow at a CAGR of 9.4 % from 2021 to 2028. The report provides trends prevailing in the APAC smart baby monitor market along with the drivers and restraints pertaining to the market growth. Burgeoning population of tech-savvy millennial parents and emergence of AI-based smart baby monitors are the major factor driving the growth of the APAC smart baby monitor market. However, smart baby monitor devices privacy issues hinder the growth of APAC smart baby monitor market.
In case of COVID-19, India is the most affected country in APAC. The containment measure undertaken by the governments in this region has negatively affected the electronics sector. China is the leading manufacturing country in this region and is among the worst-hit country along with India which has ultimately impacted the production of electronics equipment. Moreover, due the interruption in supply chain and logistics the procurement rate of various electronics equipment including hardware components of smart baby monitor has been quite affected. In India, South Korea, Japan, Vietnam, and others have witnessed a sharp decline in new projects. Hence, the ongoing disruptions in supply of raw materials & components and also demand from China & other Asian countries is expected to impact the growth of the smart baby monitor market in coming quarters.
The APAC smart baby monitor market is segmented based on type, sales channel, application, and country. The APAC smart baby monitor market, based on type, is segmented into video monitor device and audio monitor device. The video monitor device segment dominated the market in 2020 and audio monitor device segment is expected to be fastest growing during forecast period. Based on sales channel, the market is segmented into online and offline. The offline segment dominated the market in 2020 and online segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into home/family, hospitals, and day care. The home/family segment dominated the market in 2020 and day care segment is expected to be fastest growing during forecast period.
Angelcare, Babysense (Hisense), Dorel Industries, Motorola Mobility LLC, Owlet Baby Care, PAMPERS?P&G?, Philips, Samsung, Snuza, Summer Infant, Vtech, and Withings are among the leading companies in the APAC smart baby monitor market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Withings joins Decentralized Trials & Research Alliance (DTRA) to democratize and accelerate clinical trials.
The report segments the APAC Smart Baby Monitor Market as follows:
APAC Smart Baby Monitor Market – By Type
- Video Monitor Device
- Audio Monitor Device
APAC Smart Baby Monitor Market – By Sales Channel
APAC Smart Baby Monitor Market – By Application
- Day Care
APAC Smart Baby Monitor Market – By Country
- South Korea
- Rest of APAC
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