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The smart doorbell market is estimated to grow at a CAGR of 17.53% between 2022 and 2027. The market size is forecasted to increase by USD 4,000.34 million. The growth of the market depends on several factors, including the increasing demand for smart locks, the demand for smart homes, and the inclination toward a high standard of living.
This smart doorbell market report extensively covers market segmentation by type (wired and wireless), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The inclination toward a high standard of living is notably driving market growth, although factors such as poor network coverage may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The inclination toward a high standard of living is notably driving market growth. The high-net-worth individual (HNWI) population is growing across the world. Hence, the preference for luxurious lifestyles is increasing gradually. Consumers' spending capacity and their expenditure on luxury goods and services are increasing with the rise in disposable income. The increasing income levels can be attributed to the rise in the working population globally. As a result, many consumers can afford smart home solutions, which is driving the demand for smart doorbells.
Regions such as North America, Oceania, and Europe are witnessing a growth in leisure and travel activities. People are installing smart home security systems for the security and safety of their houses. Thus, the increasing consumer spending on smart solutions such as home automation devices is expected to drive the growth of the global smart doorbell market during the forecast period.
The growing adoption of IoT in smart doorbells is a key trend shaping the market. The adoption of IoT devices, such as smart cameras for residential usage, is increasing. These cameras are embedded with video analytics and recognition, which can track the movement of people and objects. Consumers can capture home security events on video through these cameras. In addition, vendors offer replacements for doorbells and peepholes with smart security cameras.
Vendors offer wired and wireless indoor and outdoor security cameras for homes. These cameras offer features such as a built-in siren, night vision, high frame rate, sensitive motion detection, tracking humidity, temperature, and air quality. They also offer compatibility with other smart home devices such as Amazon Alexa; Google Assistant; and Apple HomeKit. The adoption of IoT devices for smart homes will increase the use of smart security cameras. This, in turn, will support the growth of the global smart doorbell market during the forecast period.
Poor network coverage is challenging market growth. The need for complete network coverage and high-speed data is limiting the growth of the global smart doorbell market. Smart doorbells require reliable high-speed Internet connectivity to perform effectively. Many countries, such as South Korea, Japan, and the UK, have an advanced Internet infrastructure. However, some countries lack the basic network infrastructure, which, in turn, affects the adoption of smart doorbells.
Bluetooth and Wi-Fi are used to connect smart doorbells to other devices in home automation systems, such as surveillance systems or smart locks. The communication technology should be fast, with extensive coverage for the continuous function of smart doorbells. Poor network coverage leads to poor connection, no video display, and frequent disconnection. Thus, poor network coverage of smart doorbells may impede market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Smart Doorbell Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Owlet Home - The company provides a wide range of smart home solutions. It offers smart doorbells such as Owlet Home Video Doorbell, which features a 720p HD camera, motion detection, and two-way audio.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the wired segment will be significant during the forecast period. There are various wired doorbell cameras, ranging from vintage and traditional to modern.
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The wired segment was valued at USD 1,482.97 million in 2017 and continued to grow until 2021. Wired smart doorbells are popular, as they offer a more reliable and consistent connection compared to their wireless counterparts. These doorbells have features such as video recording, motion detection, and night vision. Wired smart doorbells can be integrated with other smart home devices, such as security cameras, smart locks, and voice assistants. Therefore, the demand for wired smart doorbells is expected to increase, which, in turn, will boost the growth of the global smart doorbell market during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America has various international and domestic vendors of smart home products. Some of the major vendors in the global smart doorbell market include Ring, August Home, SkyBell Technologies Inc. (SkyBell), and Google LLC (Google). Moreover, the penetration and awareness of smart home automation products are high in the region. The increasing adoption of smart doorbells is rising globally. Residents are spending increasingly on home automation systems due to the rising incidence of property crimes. This, in turn, will drive the demand for smart doorbells.
In 2020, the rapid transmission of COVID-19 negatively impacted the growth of major industries, such as manufacturing and transportation. However, in the first half of 2021, manufacturing and supply chain activities resumed owing to the vaccination drives across the world. Thus, the demand for smart doorbells in the region is expected to grow during the forecast period.
The smart doorbell market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the smart doorbell market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent market, the global technology hardware, storage, and peripherals market, covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Smart Doorbell Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.53% |
Market growth 2023-2027 |
USD 4,000.34 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.74 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, United Arab Emirates, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aeotec Technology Shenzhen Co. Ltd., Aiphone Corp., Arlo Technologies Inc., ASSA ABLOY AB, dbell Inc., DreamCatcher International Holdings Ltd., Honeywell International Inc., LaView Eagle Eye Technology Inc., Legrand SA, Night Owl SP LLC, NRG Energy Inc., Owlet Home, Panasonic Holdings Corp., Ring LLC, SimpliSafe Inc., SkyBell Technologies Inc., Soliom Solar Home Security, VStarcam, Xiaomi Communications Co. Ltd., and Zmodo Technology Corp. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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