The increasing penetration of smart devices, coupled with the ease of internet availability, has driven the smart baby monitor market. The improving social-economic condition of parents and the increase in the number of nuclear families worldwide is another factor that is anticipated to move the market's growth in an upward trend. Furthermore, the surge in the growth of the e-commerce platform across the developing markets is expected to influence the market positively.
Covid-19 Impact Analysis: Smart Baby Monitor Market
The pandemic has impacted the global economy in various ways. It has not only created a drastic disruption in the supply chain in the market but also influenced consumer spending behavior and purchasing decision. Thus, leaving a severe impact on the landscape of the entire smart baby care industry. The government's lockdown measures to halt and combat the spread of the virus have forced individuals to spend more time indoors. Owing to which these individuals are now able to spend more time with their children, which has further plummeted the demand for smart baby monitor devices across the household sector.
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Since the sector is the primary revenue producer, the pandemic has changed the market scenario and compelled the manufacturers in the industry to reshape their business models. As the companies are witnessing higher productivity rate from their employees by working from home, they are now planning to ask their employees to adopt the work from home lifestyle even in the post-COVID scenario. For instance, German-based Siemens announced that its employees could work from wherever they want for two or three days a week.
Smart Baby Monitor Market: Key Players
Smart Baby Monitor Market: Segmentation
By Distribution Channel
Central and South America and the Caribbean
The Middle East
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* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now