Smart Doorbell Market by Type, Product, and Geography - Forecast and Analysis 2023-2027

Smart Doorbell Market Forecast 2023-2027

The smart doorbell market size is forecast to increase by USD 4.00 billion, at a CAGR of 17.53% between 2022 and 2027. The market's expansion is predicated on various factors, notably the escalating desire for smart locks, the increasing demand for smart homes, and the preference for a superior standard of living. As technology advances and consumers seek more convenience and security in their daily lives, the demand for smart locks has surged. This trend is further fueled by the broader adoption of smart home solutions, reflecting a growing trend toward interconnected and automated living spaces. The emphasis on enhancing living standards, coupled with the convenience and security offered by locks and home automation, has created a conducive environment for the market's growth and development.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

This 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.

Market Dynamics and Customer Landscape

The market is driven by a growing emphasis on safety and well-being for individuals and families, leading to increased demand for doorbell cameras integrated with artificial intelligence (AI). However, the market faces challenges such as the presence of counterfeit/fake doorbell cameras offering a cheaper price, which raises concerns about cybercrime and data breaches. Nevertheless, the market is witnessing positive growth due to the popularity of smart security devices providing real-time protection in homes equipped with Wi-Fi, visitor recognition, and features like the Ring Video Doorbell with two-way audio and advanced AI features accessible via smartphones and tablets. Ongoing safety practices and infrastructural development, especially in hotel rooms, contribute to the market's expansion. 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.

Key Market Driver

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 automated home solutions, which is driving the demand for automated doorbells.

Moreover, regions such as North America, Oceania, and Europe are witnessing a growth in leisure and travel activities. People are installing automated home security systems for the security and safety of their houses. Thus, the increasing consumer spending on automated solutions such as home automation devices is expected to drive the growth of the global market during the forecast period.

Significant Market Trends

The growing adoption of IoT in smart doorbells is a key trend shaping the market. The adoption of IoT devices, such as automated 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, companies offer replacements for doorbells and peepholes with automated security cameras. 

Moreover, companies 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 automated home devices such as Amazon Alexa; Google Assistant; and Apple HomeKit. The adoption of IoT devices for automated homes will increase the use of smart security cameras. This, in turn, will support the growth of the global market during the forecast period.

Major Market Challenge

Poor network coverage is challenging market growth. The need for complete network coverage and high-speed data is limiting the growth of the global 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 automated doorbells.

Moreover, 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 automated 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.

Key Market Customer Landscape

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 Market Customer Landscape

Who are the Major Market Players?

Companies 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 companies, including:

• 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.
• Panasonic Holdings Corp.
• Ring LLC
• SimpliSafe Inc.
• SkyBell Technologies Inc.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What are the Fastest-Growing Segments in the Market?

The market is evolving rapidly, driven by the increasing emphasis on the safety and well-being of individuals and families. With the advent of doorbell cameras integrated with artificial intelligence, consumers are seeking real-time protection against counterfeit/fake doorbell cameras that may lure with a cheaper price but pose risks of cybercrime and data breaches. The demand for smart security devices has witnessed positive growth, especially in smart homes where the integration of camera, Wi-Fi, and visitor identification systems like the Ring Video Doorbell with two-way audio and AI features offers enhanced security. Consumers increasingly rely on smartphones and tablets to monitor and manage safety practices through these innovative solutions. Moreover, infrastructural development across various sectors, including consumers, hotel rooms, and residential complexes, is fueling the adoption of smart doorbells as an integral part of modern safety measures. As the market expands, ensuring real-time protection and maintaining the integrity of data becomes paramount, driving continuous innovation in the smart doorbell segment.

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 1.48 billion 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 automated doorbells can be integrated with other automated home devices, such as security cameras, smart locks, and voice assistants. Therefore, the demand for wired automated doorbells is expected to increase, which, in turn, will boost the growth of the global market during the forecast period.

Which are the Key Regions for the Market?

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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 companies of smart home products. Some of the major companies in the global market include Ring, August Home, SkyBell Technologies Inc. (SkyBell), and Google LLC (Google). Moreover, the penetration and awareness of automated 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.

Segment Overview

The market report forecasts market growth by revenue at global, regional, & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook 
  • Wired
  • Wireless

• Distribution Channel Outlook 
  • Offline
  • Online

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

Market Analyst Overview

The market is experiencing significant growth driven by various factors such as the increasing demand for smart security devices and the rising concerns about residential safety. One of the key drivers is the growing awareness of cyber security threats and the need for AI features to enhance security measures. The wireless segment is particularly gaining traction due to its flexibility and ease of installation, offering quick alerts and remote locking and unlocking features. As urbanization and rapid urbanization continue, smart doorbells are becoming integral home provisions offering versatility in functionalities, such as burglar alarms, microphone, infrared LED, and loudspeaker systems, providing a stability measure for residents amid rising crime rates in modern intelligent cities.

However, challenges persist, including the risks associated with counterfeit doorbell cameras and the potential for data breaches and cybercrime. Public worries about security risks, coupled with concerns about internet availability and lack of internet in certain areas, also impact market dynamics. Market players are focusing on developing cloud storage solutions and AI person recognition capabilities to address security risks and improve doorbell systems. Additionally, advancements in technological talent and market regulations are shaping the landscape, leading to the emergence of smart cities and intelligent housebuilding trends. The residential sector remains a key end-use segment driving the adoption of smart contracting and alert routines, video surveillance systems, and intelligent doorbells for enhanced home protection and owner safety in urban environments.

Moreover, the market is a dynamic sector driven by various factors including the increasing concerns about home safety and the rise in crime rates. These challenges have led to a surge in demand for smart doorbell systems equipped with advanced features such as motion sensors, remote locking & unlocking, and video surveillance systems. Internet penetration plays a crucial role in the adoption of smart doorbells, enabling data-driven decisions and facilitating easy installation for homeowners. However, the market faces risks to safety due to Domestic market regulation and unauthorized entry and the potential for cross-site scripting and code injection vulnerabilities in device-specific software. Market participants, including global brands and domestic players, are investing in smart buildings and building automation technologies to cater to the increasing buyer demand for security solutions. Police agencies and residential neighborhoods are embracing smart doorbells to enhance urban security measures and deter burglary attempts. 

 

Wired doorbells and Wireless doorbell cater to diverse preferences within the residential segment. Market dynamics are influenced by elements like domestic market regulations and consumption volumes. Both wired and wireless options are prevalent in the hardware segment, with considerations for raw materials. Door intercoms further enhance home security and convenience, reflecting evolving consumer needs in the doorbell market.

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 4.00 billion
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 companies, Market Positioning of companies, 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 forecasting, 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough market research and growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market companies

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