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/daycare centers during their absence at home. For example, the Government of India’s ”National Creche Scheme” provides daycare facilities for the children of working mothers. This scheme is implemented under the Ministry of Women and Child Development and the creches that provide daycare services to children in the age group of 0–6 years of working mothers in the community. In addition, In September 2023, US’s Congress awarded approximately US$ 24 billion to the Child Care and Development Fund (CCDF) program.
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 daycare/childcare centers fuels the smart baby monitor market.
The Canada Child Benefit (CCB) and provincial subsidies are constantly permitting working parents and families to provide safety to one or more children. The day care industry in the country is constantly offering its services for children and infants, mainly those under the age of five. These day care centers generally take care of preschool children; however, they might take care of older children during the summer or after school hours. The benefits offered by CCB encourage working parents to adopt advanced technologies for their childcare, which is fueling the adoption of smart baby monitors in Canada. In May 2022, VTech Communications Inc., a leading provider of baby monitors, launched LeapFrog baby monitors and made them available at major retailers across Canada.
US Dominates Smart Baby Monitor Market in North America
The US is constantly witnessing an increasing number of childcare centers, which is boosting the smart baby monitor market. Post-COVID, working parents started to work from the office, leaving their children with nannies at home. The concern over child safety and the need to continuously monitor the kids while the parents are away from the house is generating the demand for smart baby monitors in the US. Due to the rising demand for baby monitors, the market players are increasing their product offerings in the country, which is further boosting the smart baby monitor market. For instance, in August 2023, Masimo, a provider of medical technology, made their Stork smart home baby monitoring system available in the US. The product features several components, such as a video camera, a boot with a sensor, and a mobile app. The high-resolution camera offers better nighttime vision and quality two-way audio, allowing parents to hear and talk to their babies while they are away.
Smart Baby Monitor Market Segmental Overview
Based on type, the smart baby monitor market is divided into video monitor device and audio monitor device. The video monitor device segment recorded a larger smart baby monitor market share in 2022 and is anticipated to register a higher CAGR during the forecast period. Based on sales channel, the smart baby monitor market is bifurcated into online and offline. The offline segment recorded a larger smart baby monitor market share in 2022, whereas the online segment is anticipated to register a higher CAGR during the forecast period. Based on application, the smart baby monitor market is segmented into home/family, hospitals, and day care. The home/family segment recorded the largest share in the market in 2022 and is anticipated to register the highest CAGR during the forecast period.
Market Analysis: Competitive Landscape and Key Developments
Allen & Heath Ltd; VTech Holdings Ltd; Koninklijke Philips NV; Samsung Electronics Co Ltd.; Panasonic Holdings Corp; iBaby Labs, Inc.; INFANT OPTICS; Snuza, Dorel Industries Inc; NETGEAR; and Withings are among the key smart baby monitor market players that are profiled in the report. Several other essential smart baby monitor market players were also analyzed for a holistic view of the market and its ecosystem. The market report provides detailed market insights to help major players strategize their growth.
- In 2023, VTech launched a smart nursery baby monitor, named V-Care VC2105 Smart Nursery Baby Monitor, which harnesses unique local AI capabilities, providing baby sleep analytics and real-time alerts to help deliver the best monitor on the market.
- In 2022, 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 2022, Infant Optics launched an innovative DXR-8 PRO video baby monitor. The new DXR-8 PRO monitor, which has a compact and stylish appearance, offers high-quality video and audio capabilities along with an enhanced range. It is the first baby monitor to use the patent-pending Active Noise Reduction (ANR) technology.
- In 2022, Samsung Electronics introduced the Samsung SmartThing Cam Plus, a smart baby monitor with Al-powered capabilities.