Market Trends of North America Baby Monitors Industry
This section covers the major market trends shaping the North America Baby Monitors Market according to our research experts:
Increasing Number of Working Parents Resulting in Hectic Life Schedules
The rising complexities of routines of today's parents and the need for infants to be observed frequently to avoid any kind of injuries or accidents cannot be overlooked. Today's parents, especially the working ones, need a device that can help monitor their child's activities even when they are away from their home or in another room. Employment trends from around the region indicate a growing number of parents, especially mothers, who work. The number of mothers participating in the workforce is increasing, with more of them aiming to keep close surveillance on the activities of their babies, even after keeping them in the care of someone else, thereby driving the demand for baby monitors. Nowadays, as parents work from home or engage in other household chores, they find it convenient to possess a monitor that helps track the activities of their babies without being in the same room as the baby. According to the US Census Bureau, 2020, out of about 11 million single-parent families with children under the age of 18, 80% were headed by single mothers. About two-thirds of single mothers are working outside the home at any one time, which is a slightly higher share than married mothers who are also working outside the home. Moreover, it makes parents' work easier, as they can simultaneously work and look after their babies, even if it is from a distant location. These factors are driving the market's growth.
Canada is the Fastest-growing Market
More parents in the Canadian market are willing to ensure the safety of their newly born, and the baby monitor market in the country is driven by an increased emphasis from manufacturers on offering innovative and new features to consumers in order to differentiate their products from existing offerings. In January 2020, baby monitor creator Nanit launched the concept of Membook, which allows parents to document saveable and shareable moments of a baby that have been recorded in the camera. With this innovation, the company has been to gain a higher interest from parents who wish to preserve their babies' first movements. The company also indicated immense growth in the last couple of years through its distribution agreements with Best Buy and Target.
