The smart baby monitor market was valued at US$ 989.38 million in 2020 and is projected to reach US$ 1,815.31 million by 2028; it is expected to grow at a CAGR of 8.0% from 2021 to 2028.
The outbreak of the COVID-19 has severely disrupted the supply chain and manufacturing of electronics and personal care equipment including the hardware components of smart baby monitors. The emergence of COVID-19 virus and subsequent lockdown scenarios led the industry experts to analyze that the industry would face at least a quarter of lag in electronics equipment supply chain. In addition, the COVID-19 outbreak has squeezed the household finances, due to which parents are looking further to cut back on spend. This disruption is expected to create tremors till mid-2021. The US is the most affected country in North America. The growing number of infections has led the government to impose various containment measure such factory shutdowns, travel restrictions, closure of international borders, and lockdowns. Huge increase in the number of confirmed cases and rise in reported deaths in the country have affected both manufacturing and sales of materials associated with smart baby monitors. The region is expecting market recovery and economic improvement with the start of the COVID-19 vaccination.
The key players profiled in the Smart Baby Monitor Market research study includes:
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Since, the key findings in the Smart Baby Monitor Market research reports highlight crucial progressive industry trends, it allows the companies across the value chain to develop effective long-term strategies. The clients get to understand a clear picture of the competitors and can develop strategies and modify business expansion plans accordingly. The Smart Baby Monitor Market research reports cover thousands of global players that based on several parameters, such as company revenue, product portfolio, and geographic presence.
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