Global Bed Monitoring System & Baby Monitoring System Market Overview:
The terms "bed monitoring system" and "baby monitoring system" refer to the technology and devices used in conjunction with a centralized software network. They provide useful data on the human body as well as continuous monitoring applications for determining sleeping habits. One of the key factors propelling the growth of the bed monitoring system and infant monitoring system markets is the spike in investments in healthcare infrastructure development across the globe. The increased emphasis on lowering the cost of treating pressure ulcers and fall injuries, as well as the increasing demand for technologically sophisticated beds and baby monitoring systems to provide care and protection for infants and elderly people, all contribute to the market's rapid expansion. The prevalence of chronic disorders including cardiovascular diseases and degenerative diseases, as well as the rise in popularity of monitoring systems, which incorporate smart and innovative design integrating the Internet of Things to help with attention to minute details, further influence the market. Additionally, the market for bed monitoring systems and infant monitoring systems is positively impacted by the growing older population, increased online product availability and purchases, and acceptance of inconspicuous monitoring solutions.
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- Growing Geriatric Population Has Paved the Path for Rising In-Home Penetration of Unobtrusive Monitors
- Increasing Inclination towards Inconspicuous Surveillance Alternatives
- Higher Online Availability and Purchasing Of Products
- Usage of IoT in monitoring systems is escalating
- Cyber Risks within IOT devices for Capturing Sensitive Data If Not Secured Correctly
- Thriving Government Expenditure towards the Development As Well As Upgradation of Healthcare Sector
- Technological Advancement Related to AI, ML, AR, and VR, among others in Monitoring Systems
- Insufficient Awareness and Acceptance of These Products among Consumers
Bed Monitoring System & Baby Monitoring System is a fragmented market due to the presence of numerous players. The players are focusing on investing more in launching technological innovations. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Wellsense (United States), Xsensor Technology Corporation (Canada), Early Sense (United States), Tekscan (United States), Sensing Tex (Spain), Infant optics (United States), Lenovo Group (Hong Kong), Philips (Netherlands), Hisense (Israel), Vtech Communications (Hong Kong), Nanit (United States), iBaby Labs (United States), Emfit (Finland), Smart Caregiver Corporation (United States) and Eight Sleep (United States). Additionally, following companies can also be profiled that are part of our coverage like Kura Care (United States), SmartPeep (Singapore), Studio1Labs (Canada), Medisanté (Switzerland) and Sleep Number (United States). Considering Market by End-User, the sub-segment i.e. Homecare will boost the Bed Monitoring System & Baby Monitoring System market. Considering Market by Sales Channel, the sub-segment i.e. Monitoring System Manufacturers will boost the Bed Monitoring System & Baby Monitoring System market. Considering Market by Features, the sub-segment i.e. Light Activation will boost the Bed Monitoring System & Baby Monitoring System market.
Latest Market Insights:
In February 2021, Hillrom acquired contact-free continuous monitoring technology from EarlySense for terms that included a cash payment of USD 30 million, potential payments contingent upon the accomplishment of specific business milestones, and a portion of Hillrom's equity investment in EarlySense. This acquisition confirms Hillrom's ongoing dedication to developing a unique portfolio of connected solutions to enhance patient outcomes and is not anticipated to materially affect the company's fiscal 2021 financial guidance.
In March 2021, XSENSOR Technology Corporation introduced its AI-powered continuous skin monitoring ForeSite Intelligent Surface (IS) mattress solution. These allow clinicians to individualize care, improve patient safety, and reduce staff workload.
What Can be Explored with the Bed Monitoring System & Baby Monitoring System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Bed Monitoring System & Baby Monitoring System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Bed Monitoring System & Baby Monitoring System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Bed Monitoring System & Baby Monitoring System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Bed Monitoring System & Baby Monitoring System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Monitoring System Manufacturers, Distributers, Raw Material Suppliers, Wholesaler / Retailers, E-commerce & Retail Platforms, Nursing homes, Hospitals and End Users.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.