The global medical baby monitoring devices market was valued at US$ 1.2 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2031. The market is expected to reach US$ 1.9 billion by the end of 2031.
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Market Segmentation
In terms of product type, the global medical baby monitoring devices market is divided into video baby monitors, audio baby monitors, and others. The video baby monitor segment is likely to hold a major share of the market during the forecast period. These monitors are used when parents want extra assurance and wish to observe their babies while they are away. These types of baby monitors have a camera with a microphone that transmits images and sound to the receiver. Some models have portable screens that can be carried around, while others may need to stay in one place.
Regional Analysis
North America holds the largest value share of the global medical baby monitoring devices market, owing to an increase in per capita spending on baby care products. The U.S. and Canada are among the major contributors to the increased demand for these devices in North America. Increased adoption of e-commerce for shopping is one of the key factors driving the medical baby monitoring industry growth by making the products easily available in the region. Moreover, the higher rate of adoption of baby monitors in daycare centers is further driving demand in the region.
Competitive Landscape
The majority of firms operating in the global medical baby monitoring devices market are investing significantly in comprehensive research and development activities. Expansion of product portfolios and mergers and acquisitions are prominent strategies adopted by key players. Prominent entities operating in the market include Angelcare Monitors, Dorel Industries Inc., Hisense, Motorola Solutions, Inc., Summer Infant Inc., Snuza, VTech Holdings Limited, Koninklijke Philips N.V., Windeln.De, and Sony Corporation.
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