According to a new report, the baby safety gadget market is segmented on the basis of product type, price range, distribution channel, and region.
— Roshan Deshmukh
5933 NE WIN SIVERS DRIVES, PORTLAND, Oregon, Oct. 8, 2022 /EINPresswire.com/ — Titled “Baby Safety Gadgets Market,” Baby Safety Gadgets Are Growing, According to a New Report Published by Allied Market Research. market size is estimated at $3.1 billion in 2021 and is estimated to reach $6.21 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
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Commonly used baby safety gadgets to prevent drowning, death and injury. In addition, it is widely used in Europe and North America, followed by Asia Pacific. Examples of baby safety gadgets include Hello Baby Video Monitor, SimCam Smart AI Baby Monitor, Toddler Cam and Smart Car Seat R542. Rising disposable income is driving the use of baby safety gadgets and this factor contributes to the market trend of baby safety gadgets across the globe.
The baby safety gadget market is segmented on the basis of product type, price range, distribution channel and region. Based on product type, the market is segmented into baby monitors, smart strollers, smart stroller seats, smoke and carbon monoxide detectors, pool alarms, and others. Based on the price range, it is divided into economy and premium. According to distribution channels, the baby safety gadgets market is segmented into online sales channels, hypermarkets/supermarkets, specialty stores, and others.
By product type, the baby monitor segment will contribute the most to revenue in 2021, growing at a CAGR of 7.0%. The versatile use of baby monitors, such as monitoring sleep time, not only keeps an eye on the infant when the parents are away, but also alerts the parents to the movement of the baby through detection, thus driving the demand in the baby safety market. may increase.
By price range, the economic ones account for the largest share in the market. Affordability is one of the main reasons for the growth of this market, ultimately creating a demand for protecting babies and toddlers from injury.
By distribution channel, hypermarkets/supermarkets hold the largest market size for baby safety gadgets at $1.1056 billion in 2021, as consumers continue to tap into the niche products available in these markets. With access, it is expected to reach $2.2048 billion by 2031, at a CAGR of 7.2%. market type.Therefore, establishing hypermarkets/supermarkets in widespread locations creates lucrative opportunities for the growth of the baby safety gadgets market.
North America holds the largest baby safety gadget market share due to parental safety concerns, and increasing adoption of online distribution channels is driving the growth of the North American baby safety gadget market. Also, as the popularity of multi-functional baby safety gadgets with additional features increases, it is predicted that the demand for such gadgets will increase in many households.
Regionally, the baby safety gadgets market analysis done in North America (United States, Canada, Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, Sweden, Netherlands, and the rest of Europe), Asia was done. rice field. 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 his LAMEA).
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Major companies 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, Sunza is. Market players are implementing strategies such as business expansion, partnerships and product launches to increase demand and sales of baby safety gadgets in the market.
Key Findings of the Survey:
○ Global Baby Safety Gadgets Market, valued at $313.7 million in 2021, is projected to reach $620.58 million by 2031, at a CAGR of 7.2% from 2021 to 2031 .
○ By product type, the baby monitor segment is the largest contributor to the market, worth $1,267.9 million by 2021 and is estimated to reach $248.37 million by 2031, The Safety Gadgets Market will grow at a CAGR of 7.0% during the forecast period.
○ By price point, the economy segment will contribute the most to the market at $237.72 million in 2021, at a CAGR of 7.1% during the forecast period, reaching 4706.3 million by 2031 estimated to reach $1.
○ By distribution channel, the hypermarket/supermarket segment will be the largest contributor to the market, reaching $1,105.6 million by 2021 and reaching $220.48 million by 2031, growing at CAGR is estimated to be 7.2%.
○ By region, North America will be the largest revenue contributor, accounting for $983.9 million in 2021 and is estimated to reach $193.62 million by 2031, at a CAGR of 7.0%.
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