About this market
Innovation in technology is the key factor driving the global smart connected baby monitors market. Various players are developing innovative smart connected baby monitors with features such as temperature monitoring, remote monitoring, humidity history and noise detection. These innovations provide opportunities for vendors to derive huge profits margins, since these products are priced higher than the other products. The analysts have predicted that the smart connected baby monitors market will register a CAGR of almost 3% by 2023.
Market Overview
Growing smartphone penetration and increasing number of working mothers
Growing smartphone penetration is directly impacting sales of smart connected baby monitor products. Rising smartphone and internet penetration rates enable consumers to use smartphones to monitor their infants and toddlers.
Higher prices of smart connected baby monitor products
The perception among consumers in most countries of smart baby monitors being luxury products is hindering sales of these products.
For the detailed list of factors that will drive and challenge the growth of the smart connected baby monitors market during the 2019-2023, view our report.
Competitive Landscape
The smart connected baby monitors market is highly fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.