Baby Safety Gadgets Market Industry New avenues for research and innovation are opened up by trends
According to a new report, the baby safety gadgets market is segmented on the basis of product type, price range, distribution channel and region.
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, USA, October 8, 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 at USD 3.11 Billion in 2021 and is projected to reach USD 6.21 Billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
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A baby safety gadget generally used to prevent drowning, death, injury. Also, it is widely used in the Europe and North America region, followed by the Asia-Pacific region. Some of the examples of baby safety gadgets are Hello baby video monitor, AI smart SimCam baby monitor and toddler camera as well as R542 smart car seat. The growing disposable income is also encouraging the usage of baby safety gadgets and this factor is contributing to baby safety gadgets market trends across the globe.
The baby safety gadgets market is segmented on the basis of product type, price range, distribution channel, and region. Based on product type, the market is categorized into baby monitor, smart stroller, smart car seat, smoke and carbon monoxide detector, swimming pool alarm, and others. Based on the price range, it is divided into economy and premium. According to the distribution channel, the baby safety gadgets market is fragmented into e-commerce channel, hypermarket/supermarket, specialty stores and others.
By product type, the baby monitor segment was the largest revenue contributor in 2021 and has a CAGR of 7.0%. Due to its versatile use of baby monitor such as observing sleep time, monitoring baby when guardians are away and alerting parents of baby’s movement through sensing is likely to drive the market demand for baby safety.
By price range, economy has the largest market share. Affordability is one of the major reasons for the growth of this market which ultimately creates a demand to protect babies and toddlers from injury.
By distribution channel, hypermarket/supermarket holds largest size of baby safety gadgets market 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 on the market in these market types. Hence, establishing hypermarkets/supermarkets in a widespread location paves the way for lucrative opportunities for the growth of the baby safety gadgets market
North America holds the largest baby safety gadgets market share owing to parent safety concerns and increasing adoption of online distribution channels which are driving the growth of the baby safety gadgets market baby safety in North America. Also, the rise in popularity of multifunctional baby safety gadgets with added features is expected to boost the demand for such gadgets in many households.
Regionally, Baby Safety Gadgets Market analysis has been carried out in North America (US, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Sweden, Country -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, United Arab Emirates , Saudi Arabia, Turkey and the rest of LAMEA).
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Major players operating in the global baby safety gadgets market are Babymoov, Baby sense, BT, Munchkin, Inc, Nanit, Owlet Care, Phillips, Safe-o-Kia (Baby Safety Inc.), Summer Infant Inc, and Sunza . The market players have implemented strategies such as business expansion, partnership and product launch to increase the demand and sale of baby safety gadgets in the market.
Main results of the study:
○ Global Baby Safety Gadgets Market was valued at USD 3113.7 Million in 2021 and is projected to reach USD 6205.8 Million by 2031, registering a CAGR of 7.2% from 2021 to 2031.
○ By product type, the baby monitor segment was the largest contributor to the market, with $1,267.9 million in 2021, and is expected to reach $2,483.7 million by 2031, at a CAGR of 7 .0% during the forecast period of the Baby Safety Gadgets Market.
○ By price range, the economy segment was the largest contributor to the market, with $2,377.2 million in 2021, and is expected to reach $4,706.3 million by 2031, at a CAGR of 7.1% during the forecast period.
○ By distribution channel, the hypermarket/supermarket segment was the largest contributor to the market, with $1105.6 million in 2021, and is expected to reach $2204.8 million by 2031, at a CAGR of 7 .2% over the forecast period.
○ By region, North America was the highest revenue contributor, accounting for $983.9 million in 2021, and is expected to reach $1,936.2 million by 2031, with a CAGR of 7.0 %.
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○ Baby Audio Machines Market growth opportunities in the global industry by 2030
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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