Demand for baby monitors with smarter features such as heart rate, temperature and humidity monitoring, would witness promising growth in coming years. Adoption would also increase in Eastern Europe, due to rising awareness towards baby care and increasing number of working women in the region.
Europe Baby Monitor Market report, published by Allied Market Research, forecasts that the Europe market is expected to garner CAGR of 9% during the forecast period 2016 – 2022. France was the largest market, accounting for around 26% of the market value in 2015, owing to the large infant population and high spending on baby care in the country.
The market is classified by product type into audio and video baby monitors. Video baby monitors accounted for a larger market share of around 88% in terms of value and 70% in terms of volume, in 2015. Widespread adoption of video baby monitors is primarily attributed to advanced features such as HD video transmission and recording, smartphone connectivity and others offered by them. The segment is anticipated to grow at a CAGR of 9.5% in value terms, during the forecast period.
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Wireless baby monitor segment accounted for over 90% of the market in terms of value, in 2015. Furthermore, the segment is expected to grow at an attractive pace during 2016-2022, owing to increasing safety concerns among parents; and innovative product launches by the players operating in this segment. Demand for wired baby monitors would continue to decline in coming years as they are being increasingly perceived to be unsafe by parents.
France, UK and Germany, together accounted for 71.0% of the overall market revenue in 2015. Ireland is forecast to emerge as one of the fastest growing markets for baby monitors owing to increasing population of working mothers in the country. Rest-of-Europe is anticipated to grow at a CAGR of 11.1% during the forecast period due to increasing consciousness and rising spending towards baby care in countries such as Russia. Eastern Europe is characterized by higher adoption of relatively lower priced products.
In terms of volume, the market is forecast to grow at a CAGR of 8.3% during 2016 – 2022. Market would grow faster in terms of value, during the forecast period, due to increasing demand for higher-end products. In terms of volume, France and the UK, together accounted for around 48% of the overall market in 2015. Rest-of-Europe, comprising Russia and other Eastern European countries, is anticipated to grow at a CAGR of 10.2% during 2016 – 2022.
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Increase in the number of employed parents in the European countries is one of the major factors driving the baby monitor market. Over the past few years, there has been a shift in trend from audio baby monitors to video baby monitors. These baby monitors enable employed parents to monitor their baby or track babys movements, even from their workplace. Some models are also equipped with advanced features such as movement and breathing sensors and are also capable of sending warning signal in case of any adverse situation.
Product launch is one of the prominent growth strategies adopted by the players operating in the market. For instance, in 2015, VTech Communication, Inc. (Hong Kong), a subsidiary of VTech Holdings Ltd. announced the addition of four new baby monitors to its Safe & Sound baby monitor product line. Similarly, Luvion Premium Baby products (Netherlands), a leading player in the Europe baby monitor market, introduced a compact size video baby monitor with advanced features such as room temperature display, digital full HD sound, and high image quality camera with 5m of night vision.
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Key Findings of Europe Baby Monitor Market:
- France is the largest European market of baby monitor in terms of value as well as volume.
- Rest-of-Europe accounted for around 21% of the market in terms of volume, in 2015.
- In terms of value, video baby monitor segment occupied a market share of 88% in 2015.
- Wireless baby monitor segment would account for around 96% of the market revenue by 2022.
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