Next Generation Baby Monitors Market: Robust Compound Annual Growth Rate over the period 2017-2024
The next generation baby monitors market has been segmented by distribution channel into online and offline stores. Among these segments, the online store segment is anticipated to dominate the overall next generation baby monitors market by growing at a significant rate over the forecast period. This can be attributed to rising number of internet users across the globe. Wide range of monitoring devices, ease of hassle free shopping and well-timed delivery combined with growing working class people are some of the factors that are believed to supplement the growth of next generation baby monitors market with noteworthy revenue by the end of 2024.
The global market of Next Generation Baby Monitors is expected to grow at a robust compound annual growth rate over the period 2017-2024 owing to growing adoption of new technology for monitoring the baby activities combined with rising disposable income of the consumers.
In the regional segment, North America is anticipated to dominate the overall market of next generation baby monitors over the forecast period owing to the rapid adoption of technological advanced devices in this region.
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Further, rapid urbanization and rising concerns among the working parents towards monitoring their baby are estimated to propel the growth of next generation baby monitors in the regions of Europe. Swelled disposable income of the population is anticipated to make Asia Pacific as the fast growing market in next generation baby monitors.
Online Retailers Reflect Significant Opportunities
The next generation baby monitors market is driving on the back of advanced technology and growing concern towards monitoring baby activities among working parents. Factors such as growing research and development activities by major key players of baby monitors and spiked penetration of online retailers combined with internet of things in consumer electronic devices are anticipated to propel the expansion of next generation baby monitors market across the globe.
However, high cost and lack of awareness related to next generation baby monitors are some of the factors that are likely to dampen the growth of next generation baby monitors market in upcoming years.
The report titled "Next Generation Baby Monitors Market: Global Demand Analysis & Opportunity Outlook 2024" delivers detailed overview of the next generation baby monitors market in terms of market segmentation by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the next generation baby monitors market which includes company profiling of Daatrics Ltd., Rest Devices Inc., MonDevices, Sproutling Inc., Owlet Baby Care Inc. and Snuza Inc.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the next generation baby monitors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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