VIDEO BABY MONITORS MARKET ANALYSIS

Market Challenges And Opportunities

Video Baby Monitors Market Drivers

• Increasing concern about baby safety and security - The increasing concern among parents about baby safety and security is a major factor driving the growth of the video baby monitors market. With rising nuclear families and both parents working, parents are looking for ways to monitor their babies remotely. Video baby monitors offer continuous monitoring and alert parents if something is wrong, providing peace of mind. Features like night vision and temperature monitoring further enhance monitoring capabilities. According to United Nations Children's Fund (UNICEF) data, around 1 in 3 children worldwide were out of school due to lockdowns imposed during the pandemic in the period between 2020 and 2021. This pointed to the overwhelming presence of young children at home needing surveillance, driving up demand for video baby monitors. Several tragic incidents have increased awareness about preventive measures like baby monitors.
• Advancements in connectivity technologies - The integration of innovative connectivity technologies like Wi-Fi, Bluetooth, and smartphone connectivity in video baby monitors is boosting their adoption. Features like remote access via smartphones offer convenience and flexibility to parents. Market players are launching interoperable, multifunctional monitors that can be controlled via smartphones. Advances in streaming technologies enable real-time monitoring capabilities. According to data from the United Nations, global Internet usage grew by over 10% in 2020 alone, with video calls and virtual communications seeing a massive surge during this period. This has dramatically increased the addressable market for smart baby monitors, which facilitate remote parenting. Technology companies are leveraging these trends and launching innovative monitors with advanced connectivity features. For example, many new models allow multiple users to simultaneously view the baby's live video feed from different locations using compatible devices. The trend toward connected nurseries and smart homes will further increase the demand for connected video baby monitors.
• Emergence of smart and wearable video monitors - Video baby monitors manufacturers are incorporating smart technologies like artificial intelligence, machine learning, and computer vision into monitors. These allow features like fall detection, sleep tracking, growth tracking, etc. UNICEF data from 2020 shows over 50% of new parents in developed nations purchased smart baby monitors during lockdowns to enable remote bonding with children from other rooms or when away from home. Wearable video monitors integrated into baby gear like socks, bands, buttons, etc. allow babies to have mobility while being monitored 24/7.Market players are also launching monitors with inbuilt lullabies, nursery rhymes, and nightlights to soothe and engage babies. The emergence of smart wearable video monitors provides a personalized monitoring experience, contributing to market growth.
• Product innovation and launch of video monitors with additional features - Key players in the video baby monitors market are continuously focusing on innovations in their product offerings to gain a competitive edge. Manufacturers are integrating additional innovative features beyond traditional monitoring capabilities in their new product launches. These include temperature monitoring, humidity monitoring, intercom, air quality monitoring, tracking baby movements and growth, wakeup alarms, lullabies, etc. For instance, in 2022, the video baby monitors market witnessed a significant product innovation with Bonoch's introduction of a new video monitor tailored for families with multiple children. Bonoch's cutting-edge device features dual HD cameras accompanied by a 7-inch split-screen monitor, providing a comprehensive multi-angle surveillance solution. This feature-rich monitor allows parents to simultaneously observe different areas, setting a new standard in the multi-camera baby monitoring segment. This launch marks a leap forward in smart childcare technology, addressing the growing demand for advanced baby monitoring systems.

Video Baby Monitors Market Opportunities

• Integration with home automation systems - The integration of video baby monitors with home automation systems and smart home devices presents significant opportunities for market growth. Parents can monitor babies seamlessly alongside other home devices via smartphones. Features like automatic sleep mode, switching off lights, adjusting the AC temperature, etc. based on the baby's sleep schedule can be incorporated through interoperability with smart home systems. According to data from the United Nations Population Division, the global population aged 0-4 years is projected to increase from 681 million in 2020 to 709 million in 2023. As more families have young children and new parents look for ways to keep their babies safe, the market for smart baby care products will continue to expand rapidly. Companies can partner with smart home players to develop integrated baby monitoring solutions and enhance their product offerings.
• Adoption in day care centers, schools and hospitals - The adoption of video baby monitors in childcare facilities like daycare centers, preschools, hospitals, etc. provides growth opportunities for market players. Features like remote access, multiple camera views, etc. allow staff to monitor several babies or rooms efficiently. Hospitals have also started using monitors for babies in neonatal intensive care units (NICUs). This allows parents to see their babies from outside the NICU without having to be physically present at all times, which is beneficial, especially during the pandemic. According to UNICEF, an estimated 15 million babies globally are born preterm each year, and about 1 million children die due to complications from preterm Video monitors in NICUs have helped parents of preterm babies and low birth weight children to bond with their little ones remotely. The initiation of government regulations mandating child safety and monitoring systems in childcare facilities in several countries will boost adoption in this sector. Market players can customize products as per the needs of such facilities to increase adoption.
• Development of AI, computer vision and analytics enabled monitors - Incorporating technologies like AI, machine learning, computer vision, and predictive analytics in video baby monitors provides immense opportunities for product enhancement and innovation. As cited by the World Health Organization in 2022, preterm births are the leading cause of death among children under 5 years of age, responsible for around 1 million deaths in 2020. Features like real-time alerts for falls, sleep cycle tracking, growth tracking, visual identification of baby activities, etc. AI and computer vision enabled monitors are able to analyze video feed and detect unusual behavior patterns. For example, they can sense if a baby has rolled over onto its stomach and is at risk of suffocation. The tremendous societal benefits of AI-enabled monitoring will likely fuel strong market demand and growth in the market.
• Growing demand in developing nations - Developing nations across Asia, Latin America, and Africa offer lucrative opportunities owing to improving socio-economic conditions, a rising tech-savvy millennial parent population, and increasing awareness. Higher birth rates also contribute to a wider customer base. Local manufacturing helps make products more affordable. Market Players can tap these high-potential markets through localization strategies and partnerships with local distributors. According to data from the World Bank, the average income levels in Central American countries have increased steadily between 2020 and 2022. In Mexico, the average income rose by over 10% during this period. Higher wages mean these families are able to spend more on products that support child safety and wellbeing. Video baby monitors allow working parents to monitor their babies remotely using smartphone apps. Increasing internet penetration will also support the adoption of connected monitors in developing regions in the coming years.