ID: MRFR/SEM/7155-HCR | February 2021 | Region: Global | 100 pages
Smart Doorbell Market Overview:
According to the recent research report, smart doorbell market is expected to grow from USD 1,259.73 Million in 2018 to USD 2,056.08 Million by 2025, at a CAGR of 10.29%. A smart doorbell is a connectivity and monitoring device that allows the user to screen visitors before allowing them to enter the premises. They include an internet connection as well as a built-in camera, speaker, and microphone to provide a more sophisticated experience for users. The increasing level of consumer awareness about personal safety and home security has resulted in the widespread use of smart doorbells all over the world. Furthermore, the need for smart doorbells in buildings is being driven by increasing urbanization in different countries, which is being combined with greater building automation. The high cost of smart doorbells, on the other hand, is anticipated to restrain the market's expansion over the forecast period.
Consumers are becoming more interested in smart locks because of advantages such as flexibility combined with excellent security, simplicity of installation, remotely locking and unlocks, and the ability to provide homeowners immediate notifications in the case of a crime. With the entry of new players into the global smart doorbell industry, new products are becoming available at more reasonable rates. The global smart doorbell industry will be propelled forward by consumer desire for a smart lock and smart doorbell combination. With improved technological integration, smart locks and smart doorbells provide high levels of safety and dependability, which is expected to fuel market expansion in the coming years. In addition to automated motion detection, manufacturers include face recognition technology into their devices, which acts as an upgrade option for the smart doorbell market. Face recognition technique offers great ability to be a real game-changer for smart doorbell suppliers that are looking to include value-added capabilities into their devices.
This report contains all the information on the global smart doorbell market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global smart doorbell market report forecast for 2025 is also included in the report.
Smart Doorbell Market Covid 19 Analysis:
Smart doorbells are increasingly being utilized in business settings, such as offices. The halt in the building of new offices as a result of the COVID-19 epidemic, on the other hand, is impeding the expansion of the market. The temporary stop in the manufacture of smart gadgets as a result of the closure of production plants in a number of countries has also had an effect on the sales of smart doorbells. COVID-19, which is still under progress, has caused significant disruptions in the electronics supply chain and fresh supply, as well as an inflationary risk for the goods. Businesses have been forced to concentrate on de-risking while also reviewing their end-to-end supply chain and implementing a telecommuting strategy as a result of these interruptions.
Smart Doorbell Market Dynamic:
With features such as flexibility with high security, simple installation, remote locking and unlocking, and immediate notifications to homeowners in the event of a crime, smart locks have seen an increase in customer demand over the last few years. With the entrance of new companies into the global smart lock industry, a plethora of new devices are now available at competitive prices. Customers' desire for a smart lock and smart doorbell combo will fuel the growth of the worldwide smart doorbell market, which is expected to grow at a compound annual growth rate during the projected period.
Smart doorbells are a mix of various hardware equipment and software solutions that allow homeowners to avoid answering the door unless the person at the door has been properly identified and verified by the smart doorbell. Whenever the owner is not at home, a smart doorbell can be used to display a pre-specified message and notify them of the presence of the individual at the door with the help of a video feed; the whole video feed could be directly broadcasted to the homeowner's smartphone due to the doorbell's interconnection through home automation or other forms of interconnection. Smart doorbells are becoming increasingly popular. Additionally, the owner may speak with the person at the door while simultaneously assisting the owner in unlocking the door via their phones, if and when this is needed.
Uncertainties in technological problems, increasing security concerns, and a lack of network coverage are all factors that may impede the development of the smart doorbell market over the projected period.
When doorbells are linked to the internet, hackers may get access to the portal via cross-site scripting and code injection, and they can exploit this information to steal usernames and passwords. When a smart doorbell is linked to a wireless network, hackers may get access to the device, posing a danger to the security of the house. It is anticipated that these security concerns would have created a major challenge to the global smart doorbell market growth.
Cumulative Growth Analysis:
As a result of a high density of market participants, the simple availability of competent technological knowledge, and an increasing number of smart buildings, Europe is the second biggest market for smart doorbells after North America. Furthermore, the increasing need for security and safety among inhabitants of apartment buildings and condos has contributed to the expansion of the door intercom industry in Europe during the last several years.
Value Chain Analysis:
According to the reports, Market segments for the global smart doorbell market are Type, Component, End Users, Sales Channel, and Region. Type is the most important sector in the market. The market has been divided into two types of doorbells: wired doorbells and wireless doorbells. The wired doorbell segment is expected to account for the majority of the market. But it is anticipated that the wireless doorbells category would have the highest CAGR during the projection period, owing to the fact that it is more flexible, simple to install with various channel functioning, and reasonably priced. The market has been divided into two categories based on the component: software and hardware.
The market has been divided based on End User into two categories: residential and commercial. The residential sector accounts for the majority of door intercom users and is expected to grow at the fastest rate during the forecast period. The smart doorbells market demand is increasing as the number of smart homes being built across the world continues to rise. The market has been divided into two categories depending on the sales channel used: store-based and non-store-based. Globally, it is anticipated that the store-based sector would account for a greater share of the market. Because of the simplicity with which doorbells may be purchased in bulk, the majority of bulk purchases are made via non-store characteristic structural. During the projection period, the non-store-based sector, on the other hand, is anticipated to record the greatest compound annual growth rate (CAGR).
Smart Doorbell Market Segmentation Overview:
The market is segmented on the basis of Type, Component, End Users, Sales Channel, and Region. The global smart doorbell market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into wired doorbells and wireless doorbells.
Based on the propulsion types, the market is segmented into residential and commercial.
Smart Doorbell Market Regional Analysis:
In the projection period from 2019 to 2025, the global market for smart doorbells is expected to expand at a considerable pace, according to industry analysts. It has been determined which regions of the globe are the most profitable for the smart doorbell market in North America, Europe, Asia-Pacific, and other regions of the world. From 2019 to 2025, the Asia-Pacific region is projected to account for the biggest global smart doorbell market share. Increased progress in the Internet of Things (IoT) and artificial intelligence (AI) capabilities has prompted manufacturers to create smart doorbells that are appropriate for use in both home and business settings. Furthermore, the expansion of the real estate industry in the area has the potential to increase demand for smart doorbells in the future.
Smart Doorbell Market Competitive Landscape:
Key companies have used new products, regional expansion, cooperation, and partnership agreements as part of their overall development strategy in order to expand their share of the world smart doorbell industry even further.
An updated video doorbell with a square aspect ratio was introduced by Arlo Technologies, Inc. earlier this year. In a similar vein, the firm introduced two smart doorbells in 2018: the Arlo Audio Doorbell and the Arlo Chime. Using the doorbell in conjunction with wire-free cameras and a smart light, you can obtain a good view of the entrance at all times.
|Market Size||USD 2,056.08 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Component, End-User, Sales Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Panasonic Corporation (Japan), Shenzhen VStarcam Technology Co., Ltd (China), Ring Inc. (US), SkyBell Technologies Inc. (US), dbell Inc. (US), August, Inc. (US), SkyBell Technologies, Inc. (US), Chui (US), Danke (XIAMEN) Intelligent Technology Co., Ltd. (China), Smartwares Group (Netherland), Legrand (France), and Arlo Technologies, Inc. (US)|
|Key Market Opportunities||The increase in smart home construction activities across the globe.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
At 10.29% CAGR, the global market of smart doorbell can value at USD 2.06 Bn by 2025.
Shenzhen VStarcam Technology Co., Ltd (China), SkyBell Technologies Inc. (US), and Ring Inc. (US) are some reputed companies in the smart doorbell market.
In 2018, the smart doorbell market was valued at 1,259.73 Mn.
Launch of innovative home security solutions can impel the smart doorbell market.
The APAC smart doorbell market can thrive at the highest CAGR by 2025.