Global Baby Monitors Market 2019-2023
About this market
Rising demand from developing countries to drive growth in the market. The awareness of available products and brands in developing countries is growing rapidly. Rising awareness of baby monitors ensues from drastically rising internet penetration in these countries. Technavio’s analysts have predicted that the baby monitors market will register a CAGR of close to 8% by 2023.
Technology innovation and portfolio extension leading to product premiumization
The vendors are focusing on technology innovation and portfolio extension per customer requirement to widen their market share. This also leads to product premiumization.
Stringent government standards and regulation
The introduction of baby monitors has driven governments of various nations to set guidelines for manufacturers. These regulations pose major challenge to the market.
For the detailed list of factors that will drive and challenge the growth of the baby monitors market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Samsung Electronics and VTech Holdings the competitive environment is quite intense. Factors such as the technology innovation and portfolio extension leading to product premiumization and the rising demand from developing countries, will provide considerable growth opportunities to baby monitors manufactures. Angelcare, Dorel Industries (Dorel Juvenile Group), Koninklijke Philips, Lenovo (Motorola Mobility), Samsung Electronics, and VTech Holdings are some of the major companies covered in this report.
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