Global Baby Monitor Market Expected to Garner $1,761.7

New York, USA, Oct. 26, 2022 (GLOBE NEWSWIRE) — As per the newly published report by Research Dive, the global baby monitor market is anticipated to grow at a stunning CAGR of 6.5%, thereby garnering a revenue of $1,761.7 million by 2027. This comprehensive report provides a brief outlook of the current framework of the baby monitor market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2020-2027. All the necessary and essential market figures are also provided in this report to help new entrants analyze the market easily.

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Dynamics of the Baby Monitor Market

Drivers: Significant increase in the number of working parents across the world is expected to boost the baby monitor market in the forecast period. Additionally, rising awareness about newborns’ illnesses and death is anticipated to drive the market forward in the analysis timeframe.

Opportunities: Increase in the women labor force participation is expected to offer numerous growth opportunities to the market in the forecast period. Introduction of zero-radiation baby monitoring system is expected to propel the market in the analysis period.

Restraints: High cost of installing baby monitors is, however, expected to become a restraint in the growth of the baby monitor market.

Impact of Covid-19 on the Baby Monitor Market

The Covid-19 pandemic and the subsequent lockdowns across the globe had severely impacted various industries. The baby monitor market faced a moderate impact of the market. Since the focus of the healthcare sector during these years was shifted to curbing the spread of the virus and tackling the pandemic, there was a general decrease in demand for baby monitors. However, leading players of the market came up with multiple strategies such as product developments, collaboration, which helped the market…