Baby Safety Gadgets Market
The baby safety gadgets market is segmented on the basis of product type, price range, distribution channel and region.
— Roshan Deshmukh
PORTLAND, OREGON, UNITED STATES, August 22, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Baby Safety Gadgets Market,” The baby safety gadgets market size was estimated $3.11 billion in 2021, and is estimated to reach $6.21 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
A baby safety gadget generally used to prevent from drowning, death, injuries. In addition, it is widely used in Europe and North America region followed by Asia-Pacific region. Some of the examples of baby safety gadgets are Hello baby video monitor, SimCam smart AI baby monitor & toddler cam as well as smart car seat R542. The growing disposable income also encourages the use of baby safety gadgets and this factor contribute as baby safety gadgets market trends across the globe.
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The baby safety gadgets market is segmented on the basis of product type, price range, distribution channel and region. On the basis of product type, the market is categorized into baby monitor, smart baby stroller, smart baby car seat, smoke and carbon monoxide detector, pool alarm and others. Based on price range it divided into economical and premium. According to distribution channel, the baby safety gadgets market is fragmented into online sales channel, hypermarket/supermarket, specialty stores and others.
By product type, the baby monitor segment was highest revenue contributor in 2021 and has CAGR of 7.0%. Due to its multi-purpose use of baby monitor such as sleep time observation, to watch infant when guardians are away as well as alerting parents about baby movement through detection is likely to boost the demand of baby safety market.
By price range, the economical has largest share in the market. Affordability is one of the key reasons for growth in this market which ultimately create demand to protect babies and toddlers from injuries.
By distribution channel, the hypermarket/supermarket holds the largest baby safety gadgets market size i.e., $1,105.6 million in 2021 and is expected to reach $ 2,204.8 million by 2031 at a CAGR of 7.2% as consumers can access niche products available in the market in these types of market. Hence, establishment of hypermarkets/supermarkets in widespread location makes way for lucrative opportunities for the growth of the baby safety gadgets market
North America holds largest baby safety gadgets market share due to safety concern among parents and increase in adoption of online distribution channels are driving the growth of the baby safety gadget market in North America. Also, increase in popularity of multi-functional baby safety gadgets with additional features is projected to boost the demand for such gadget in numerous households.
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During the COVID-19 pandemic, supply chain disruption was a major issue for manufacturers, as countries closed their borders or raised trade barriers. As a result, manufacturers and exporters faced fierce competition to sell their products abroad. Moreover, as a result of subsequent lockdowns and retail store closures, on-premise sales at supermarkets and convenience stores have decreased, as people have practiced social distancing and avoided gatherings and outings. Sales via online retail channels, on the other hand, significantly aided market penetration. All these factors had negative impact on baby safety gadgets industry.
Region-wise, the baby safety gadgets market analysis has done across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Sweden, Netherlands, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Indonesia and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, Saudi Arabia, Turkey and the rest of LAMEA).
Key market strategies implemented by market players include product launches and geographic expansion. Product innovation is being prioritized by prominent market players in order to provide consumers with more innovative products.
The key market players profiled in the report include:
○ Babymoov
○ Baby sense
○ BT
○ Munchkin Inc
○ Nanit
○ Owlet Care
○ Phillips
○ Safe-o-Kia (Baby Safety Inc.)
○ Summer Infant Inc
○ Sunza.
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Key findings of the study:
○ The global baby safety gadgets market was valued at $3113.7 million in 2021, and is projected to reach $ 6205.8 million by 2031, registering a CAGR of 7.2% from 2021 to 2031.
○ By product type, the baby monitor segment was the highest contributor to the market, with $1267.9 million in 2021, and is estimated to reach $2483.7 million by 2031, at a CAGR of 7.0% during the baby safety gadgets market forecast period.
○ By price range, the economical segment was the highest contributor to the market, with $ 2377.2 million in 2021, and is estimated to reach $ 4706.3 million by 2031, at a CAGR of 7.1% during the forecast period.
○ By distribution channel, the hypermarket/supermarket segment was the highest contributor to the market, with $ 1105.6 million in 2021, and is estimated to reach $ 2204.8 million by 2031, at a CAGR of 7.2 % during the forecast period.
○ By region, North America was the highest revenue contributor, accounting for $ 983.9 million in 2021, and is estimated to reach $ 1936.2 million by 2031, with a CAGR of 7.0%.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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