Rapidly mounting number of working parents in European countries is triggering needs for improving convenience and accessibility of baby monitors to make use of enhanced childcare accessories for their babies. The increased spending on baby care accessories and equipment is boosting the sales of advanced baby monitors, as well as the growth of the Europe baby monitor market. Furthermore, the rise in safety concerns among new parents is likely to provide a boost to the expansion of the Europe baby monitor market in the near future. To capitalize on the increasing demand for advanced baby monitors in Europe, a mounting number of manufacturers and distributors are entering the Europe baby monitor market.
With the rapid growth of the Europe baby monitor market, leading manufacturers in the market are introducing technologically advanced and innovative features of baby monitors. The Europe baby monitor market is growing with the increasing number of new entrants in the market, who are launching advanced baby monitors to establish a stronger position in the market. With the rise in growth opportunities in the Europe baby monitor market, global giants, such as Philips, are entering the Europe baby monitor market. This is intensifying the competitive landscape of the market, yet complementing the growth of the Europe baby monitor market.
For example, Royal Philips – a global leader in health and technology – recently announced that it has completed the acquisition of Health & Parenting Ltd. – a London-based manufacturer of healthcare appliances. The growth prospects of the Europe baby monitor market are likely to be influenced with this acquisition as it is helping the company to introduce its connected devices such as Philips Avent smart baby monitor in the European markets. The company aims to strengthen its digital offerings, including its digital baby monitors, and increase the scale of its parenting platform in the Europe baby monitors market.
In addition, Royal Philips also entered a partnership agreement with Onelife Health – a German digital health company – to introduce connected healthcare solutions in the Europe baby monitor market. The company is aiming to establish a strong network in the Europe baby monitor market in order to boost the sales of its advanced healthcare products, such as baby monitors, in the European Union. Collaborating with local healthcare companies and acquiring established technology developers in the region is likely to help global giants to consolidate a stronger position in the Europe baby monitor market. An increasing number of globally established manufacturers and distributors is intensifying the competition in the Europe baby monitor market. This is encouraging manufacturers and distributors in the Europe baby monitor market to adopt innovative business strategies and advanced technologies to introduce unique baby monitors in the market. This can help local manufacturing companies to gain a competitive edge in the Europe baby monitor market in the upcoming years.
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