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Smart Doorbell Market Expected to Reach $14.4 Billion by 2031—Allied Market Research

 
2022
Smart Doorbell Market

Report Code : A09752

quote The smart doorbell market has witnessed significant growth in the past decade, owing to rising number of working women and elderly people who prefer video doorbells to communicate with visitors before opening doors. By end user, the residential segment dominated the market in 2021, in terms of revenue. Depending on product type, the wired doorbell segment accounted for the highest revenue share in the 2021. On the basis of distribution channel, the offline segment is expected to grow at a higher CAGR during the forecast period. quote

Onkar Sumant - Manager
Construction and Manufacturing at Allied Market Research

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The global smart doorbell market was valued at $2.7 billion in 2021, and is projected to reach $14.4 billion by 2031, registering a CAGR of 18.3% from 2022 to 2031. Rise in disposable income of population, improved lifestyle, and increase in awareness about smart home systems boost the adoption of smart doorbells in residential and commercial spaces, thus driving the growth of the market. In addition, rise in number of smart cities, improved consumer awareness about smart doorbells, and growing adoption of IoT based technologies boost the market growth.  

Major players, such as Panasonic Corporation, Dbell Inc., and others in smart doorbell industry are engaged in adopting product launch, acquisition, and product development as their key developmental strategies to improve the portfolio of smart doorbell products, which boosts the smart doorbell market growth.

For instance, in January 2020, Toucan Smart Home launched a Wi-Fi video doorbell system. It is the first battery powered 1800 Wi-Fi based video doorbell device. It is easy to install and thus, increases the consumer demand for flexible smart home security solutions. In addition, it has components such as rechargeable battery, adjustable magnetic mount, PRI sensor, and PIR sensor to maximize performance. All such products drive the adoption of smart doorbells. Moreover, rapid urbanization in various economies adopted the use of building automation, which further drives the  market. Furthermore, rise in adoption of smartphone, and connected devices, and their superior features as compared to traditional doorbell systems, fuels the growth of market which is further helping in expansion of smart doorbell market size. 

Moreover, rise in government spending on smart city projects is anticipated to provide lucrative opportunities for the smart doorbell market. For instance, the spending on smart city initiatives globally is expected to rise from $124.0 billion in 2020 to $189.5 billion in 2023. 

However, numerous manufacturers in the global market having significant smart doorbell market share had to halt their business production, due to lockdown imposed in countries such as China, the U.S., India, and others, due to the coronavirus (COVID-19) issue. This disruption has a direct impact on the sales of smart doorbell systems. However, reopening of production facilities and introduction of COVID-19 vaccines are projected to lead to reopening of the market at full pace. 

However, lack of availability of Internet connectivity and high capital cost required for smart doorbell, hamper the growth of the market. Furthermore, technological innovation in the smart doorbell systems, is anticipated to provide lucrative opportunities for the growth of the smart doorbell market.  

Customers are interested in adopting smart locks in commercial and residential spaces, owing to features such as flexibility with high security, easy to install, remote locking and unlocking, and provision of sending quick alerts to homeowners in an event of burglary. Smart locks and smart doorbells with a technological integration provide great safety and reliability, which boosts the growth of the smart doorbell market.

Key players use facial recognition technology in their products, as well as automatic motion detection, which serve as an additional driver for the smart doorbell market. Furthermore, vendors are engaged to offer smart locks, which are highly compatible with specific smart doorbells, thus boosting the growth of the smart doorbell market. In addition, safety & security components in home automation include, smart doorbell and smart locks. Safety and security are the major factors in residential and commercial sectors, which lead to increase in deployment of systems, such as video intercom systems, voice-activated devices, and smart outlets in homes, and commercial spaces. This fuels the growth of the smart doorbell market. In addition, competition has been witnessed within large corporations, and startups, due to the profitability of home security systems and access control.

Furthermore, the participation of giants, such as Ring Inc., Belkin International Inc., and others has increased due to technological advancements. For instance, in January 2020, Belkin International Inc. launched a new generation of smart home systems, such as smart video doorbell to the market. It has smart plugs and lighting solutions with a support for matter over thread. It has features such as 1780 field of view, 4MP high resolution camera with enhanced night vision, and optional zoom clarifies to provide users with more insights into what is happening at home. It is compatible with android, Mac, iPad, and iPhone. All such instances drive the growth of the market.

 

Key findings of the study 

  • The report provides an extensive smart doorbell market analysis along with the current and emerging global smart doorbell market trends and dynamics.  

  • By product type, the wireless segment was the largest revenue generator in 2021. 

  • By distribution channel, the offline segment generated the highest revenue in 2021. 

  • By end user, the residential segment generated the highest revenue in 2021. 

  • Region wise, North America is anticipated to dominate the global smart doorbell market throughout the study period.  

  • The report provides an extensive analysis of the global smart doorbell market and emerging opportunities of the market.  

  • The global smart doorbell market forecast analysis from 2022 to 2031 is included in the report. 

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quote Smart Doorbell Market by Product Type (Wired Doorbell, Wireless Doorbell), by Distribution Channel (Online, Offline), by End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2022-2031 quote

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