According to a new report published by Allied Market Research, titled, “Baby Safety Gadgets Market” The baby safety gadgets market size was estimated at $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 is generally used to prevent drowning, death, and injuries. In addition, it is widely used in Europe and North America region followed by the Asia-Pacific region. Some of examples of baby safety gadgets are the Hello baby video monitor, SimCam smart AI baby monitor & toddler cam as well as the smart car seat R542. The growing disposable income also encourages the use of baby safety gadgets and this factor contributes 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. On the basis of product type, the market is categorized into baby monitors, smart baby strollers, smart baby car seats, smoke and carbon monoxide detector, pool alarm, and others. Based on price range it is divided into economical and premium. According to the distribution channel, the baby safety gadgets market is fragmented into online sales channel, hypermarkets/supermarkets, specialty stores, and others.
By product type, the baby monitor segment was the highest revenue contributor in 2021 and has a CAGR of 7.0%. Its multi-purpose use of baby monitors such as sleep time observation, watching infants when guardians are away as well as alerting parents about baby movement through detection is likely to boost the demand for the baby safety market.
By price range, the economical has the 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, the establishment of hypermarkets/supermarkets in widespread locations makes way for lucrative opportunities for the growth of the baby safety gadgets market
North America holds the largest baby safety gadgets market share due to safety concerns among parents and increases in the adoption of online distribution channels are driving the growth of the baby safety gadget market in North America. Also, the increase in the popularity of multi-functional baby safety gadgets with additional features is projected to boost the demand for such gadgets in numerous households.
Region-wise, the baby safety gadgets market analysis has been 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).
The 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 Suiza. The market players have implemented strategies such as business expansion, partnership, and product launches to increase the demand and sale of baby safety gadgets in the market.News Source: EIN News