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, Aug. 22, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research entitled “Market for Baby Safety Gadgets,” the market size of baby safety gadgets was estimated to be $3.11 billion by 2021, and is estimated to be $6.21 billion in 2031, with a CAGR of 7.2% from 2022 to 2031.
A baby safety gadget generally used to prevent drowning, death and injury. In addition, it is widely used in the Europe and North America region, followed by the Asia-Pacific region. Some examples of baby safety gadgets are Hello baby video monitor, SimCam smart AI baby monitor and toddler camera, and smart car seat R542. The growing disposable income is also driving the use of baby safety gadgets and this factor contributes as baby safety gadget market trends around the world.Read:Samsung Phone Frozen – How to Fix Phone Stuck on Samsung Logo?
Access the full summary: https://www.alliedmarketresearch.com/baby-safety-gadgets-market-A21103
The baby safety gadgets market is segmented on the basis of product type, price range, distribution channel and region. Based on the product type, the market is divided into baby monitor, smart stroller, smart baby car seat, smoke and carbon monoxide detector, pool alarm, and others. Divided into economical and premium based on price range. According to the distribution channel, the baby safety gadgets market is fragmented into online sales channels, 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 the versatile uses of baby monitors, such as sleep time observation, it is likely to boost baby safety market demand to watch babies when guardians are away and alert parents to baby movements through detection.
In terms of price range, the economical has the largest share in the market. Affordability is one of the main reasons for growth in this market, which ultimately creates the demand to protect babies and toddlers from injuries.
By distribution channel, the hypermarket/grocery store has the largest market size for baby safety gadgets at $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 have access to niche products that are market are available in these types of market. Hence, the establishment of hypermarkets/supermarkets in a widespread location is giving way to lucrative opportunities for the growth of the baby safety gadgets marketRead:Top Stories: ‘Far Out’ Apple Event Preview With iPhone 14 and Apple Watch Pro Rumors
North America has the largest market share for baby safety gadgets due to parental safety concerns and the increasing adoption of online distribution channels is driving the growth of the baby safety gadget market in North America. Also, the increasing popularity of multifunctional baby safety gadgets with additional functions is expected to stimulate the demand for such gadgets in many households.
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During the COVID-19 pandemic, supply chain disruption was a major concern for manufacturers as countries closed their borders or erected barriers to trade. As a result, manufacturers and exporters faced fierce competition to sell their products abroad. In addition, as a result of subsequent lockdowns and store closures, on-site sales in supermarkets and convenience stores have declined as people have maintained social distancing and avoided gatherings and outings. In contrast, sales through online retail channels contributed significantly to market penetration. All these factors negatively impacted the baby safety gadget industry.
In terms of region, the market analysis for baby safety gadgets has been conducted in North America (US, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Sweden, Netherlands and rest of Europe), Asia Pacific (Japan, China, Australia, India, South Korea, Indonesia and rest of Asia-Pacific) and LAMEA (Brazil, South Africa, United Arab Emirates, Saudi Arabia, Turkey and rest of LAMEA).
Key market strategies implemented by market players include product launches and geographic expansion. Product innovation is prioritized by prominent market players to provide consumers with more innovative products.
The key market players profiled in the report include:
○ Baby Sense
○ Owl Care
○ Safe-o-Kia (Baby Safety Inc.)
○ Summer Baby Inc
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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 expected to reach $625.8 million by 2031, growing at a CAGR of 7.2% from 2021 to 2031.
○ By product type, the baby monitor segment was the largest contributor to the market, with $1267.9 million in 2021, and is estimated to reach $2483.7 million in 2031, growing CAGR of 7.0% over the forecast period of the baby safety gadget market .
○ By price range, the economic segment was the largest contributor to the market, at $2377.2 million in 2021, and is estimated to be $4706.3 million in 2031, growing at a CAGR of 7.1% over the forecast period.
○ By distribution channel, the hypermarket/grocery segment was the largest contributor to the market, at $1105.6 million in 2021, and is estimated to reach $224.8 million in 2031, growing at a CAGR of 7.2% over the forecast period.
○ By region, North America was the largest contributor to revenue, accounting for $983.9 million in 2021, and is estimated to be $196.2 million in 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 advisory division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research offers global enterprises as well as medium and small businesses an 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 domain.
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