A recent research study reveals that a staggering 7 in 10 U.S. parents currently own an IoT (internet of things) device. Even among non-IoT-owning parents, 75% cite interest and a desire to learn more, both of which suggest a burgeoning market that is ripe for entry.
Without a doubt, the IoT category has more than piqued the interest of parents, with 37% of current owners stating their desire to purchase another device in the next 2 months. Brands hoping to capture a share of this innovative category should consider the degree of customization and personalization they can offer to customers in unique ways, as parents themselves cite an openness to such.
While top devices owned by parents span the gamut, 3 of the top 12 are baby-related: smart baby/children’s toys, smart nursery/baby gear and baby health tracking. To add to that, new devices infiltrating the market take baby monitoring to a whole new level, with current products allowing parents to track car seat security, monitor temperature with pacifiers, patches and anklets, and ensure comfortable feeding by way of bottles.
Purchase motivation is primarily driven by making life easier and saving time, both of which suggest messaging direction for companies hoping to enter the IoT category.
A notable market research firm estimates the global market of IoT will exceed $7 trillion by 2020, offering companies a significant opportunity to capitalize on improvements to current baby device technology, particularly within the safety and convenience realm for first-time parents.
CEO of BabyWatch, Sandro Mur warns, “The biggest issue in the IoT for babies is that most people are just taking existing IoT devices and making them smaller… IoT devices should focus on only a few functions and do them really well, because there is no room for mistakes.”
Interestingly, IoT-owning parents feel such devices make them better parents, a strong and compelling lead-in to brand positioning, storytelling and more.