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The smart doorbell market size is forecast to increase by USD 6.75 billion, at a CAGR of 22.82% between 2023 and 2028. 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.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including 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., Soliom Solar Home Security, VStarcam, Xiaomi Communications Co. Ltd., and Zmodo Technology Corp. Ltd. Additionally, Owlet Home offers 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.
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The Market has experienced significant growth in recent years, driven by the increasing prioritization of Safety and Well-being for Individuals and Families. Doorbell cameras equipped with Artificial Intelligence have become increasingly popular due to their Cheaper prices and advanced features, such as Real-time protection and AI-enabled analysis. These devices offer consumers Positive growth opportunities for Smart Homes, enabling them to monitor their property and visitors via Wi-Fi using their Smartphones and Tablets. The market landscape depends on Cheaper price, visitor, Ring Video Doorbell, and safety practices. However, with the increasing adoption of these Smart Security Devices comes the risk of Cybercrime and Data breaches. Manufacturers must ensure robust Infrastructural development and implement advanced security measures to safeguard user data. The Two-way audio system and AI features of these devices offer added convenience and peace of mind for users, making them a valuable addition to both residential and commercial properties, including Hotel rooms. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges 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 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.
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 global 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 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 during the forecast period.
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. 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.
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The wired segment was valued at USD 1.68 billion in 2018 and continued to grow until 2022. 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 global market during the forecast period.
The growing preference for the offline segment will increase the market growth. The global market experienced significant growth in 2023, with home automation and digitalization playing a pivotal role. The increasing adoption of smart appliances and internet-controlled devices has fueled the demand for these internet-enabled devices. With the rise in crime rate, domestic security measures have become a priority, leading to the popularity of video surveillance networks and smart doorbells. These devices, equipped with webcam, microphone, speaker, and personal security features, offer peace of mind to homeowners. Hence, such factors are fuelling the growth of this segment which in turn drives the 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 provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout 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. Hence, such factors are driving the market in North America during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 market growth and trends strategies.
Market Customer Landscape
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.
Aeotec Technology Shenzhen Co. Ltd: The company manufactures electrical accessories such as switches, bells, plugs, and water sensors.
Market analysis and report of 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing significant growth due to the increasing demand for advanced home security systems. Homes and safety are priority concerns for consumers, leading to the procurement of innovative devices such as Smart Doorbells. These devices enable users to see and communicate with visitors from the comfort of their homes, providing an added layer of security. The market landscape depends on Physical stores, e-commerce retailers, video surveillance network, burglaries, burglar alarms, urbanization, building automation, flexibility, remote locking & unlocking, notifications, supplies, inflation risk, disruptions, businesses, de-risking. The integration of features like motion detection, night vision, and two-way audio enhances the functionality of Smart Doorbells. The convenience they offer, especially during the absence of homeowners, makes them an essential component of modern-day residences. The market is driven by the growing awareness of home security and the availability of cost-effective solutions. Consumers are increasingly opting for Smart Doorbells to ensure the security of their homes and families. The market is expected to continue its growth trajectory in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.82% |
Market growth 2024-2028 |
USD 6.75 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
18.28 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, United Arab Emirates, and Canada |
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 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 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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