The Europe smart baby monitor market is expected to grow from US$ 241.79 million in 2020 to US$ 453.67 million by 2028; it is estimated to grow at a CAGR of 8.2% 2020-2028. The escalating number of working parents is expected to fuel the Europe smart baby monitor market. The growing number of nuclear families and working parents across Europe is boosting the adoption of smart baby monitoring devices. The working parents are robustly looking for nannies or daycare centers to take care of their children when they are not at home. The increasing concerns associated with child safety are also encouraging them to purchase smart baby monitoring devices. The number of working mothers is also on rise in European countries. The smart baby monitoring products help parents to carry out their activities efficiently without being stressed about their babies’ activities and safety. These systems facilitate the real-time communication between parents and their children through smartphones. Thus, the increasing penetration of smartphones, used to install apps to monitor their baby also supports the growth of the market. Furthermore, the mounting purchasing power of the populations are allowing them to spend more on their children’s safety. Constant expansion of online sales channels is another factor fueling the Europe smart baby monitors market’s growth, as it offers consumers with an easy access to a variety of products.
In case of COVID-19, the UK and Russia are the most affected country in Europe. Owing to the outbreak of COVID-19 electronics equipment sector has been affected massively. The outbreak of the virus has distrusted the supply chain in various countries in this region. The member states of Europe such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of COVID-19 among its citizens. Moreover, due the disrupted supply chain of hardware components of smart baby monitors, the market has been significantly affected as deployment of smart baby monitor has been delayed. Further, the recent imposition of containment measure owing to the spread of newly mutated strain might further hamper the market in this region. Thus, the spread of newly mutated strain of COVID-19 is anticipated to affect the smart baby monitor market till first two quarters of 2021.
Based on sales channel, the offline segment led the Europe smart baby monitor market in 2020. The offline sales channels include shops that sell various smart baby monitoring products of different brands; they offer easy returns, personal service, and physical verification to the consumers before any purchases. These channels have become a chief medium of sales in countries where having optimum internet connectivity is a major challenge. This sales channel creates a significant opportunity for upselling and cross-selling, thus acting as huge collection repositories of additional customer data. The rising number of supermarkets and hypermarkets is strengthening contribution of offline sales channels to the market. The advantages of offline sales channel such as easy availability, more options, good after sale service etc. are expected to increase the demand of smart baby monitor through offline channel, thereby driving the Europe smart baby monitor market.
The overall Europe smart baby monitor market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe smart baby monitor market. The process also serves the purpose of obtaining overview and forecast for the Europe smart baby monitor market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe smart baby monitor market. Angelcare, Babysense (Hisense), Dorel Industries, Lorex, Motorola Mobility LLC, Owlet Baby Care, PAMPERS?P&G, Philips, Samsung, Snuza, Summer Infant, Vtech, and Withings are among a few players operating in the Europe smart baby monitor market.