Smart Doorbell Market

Smart Doorbell Market Research, 2031

The global smart doorbell market was valued at $2,667.6 million in 2021 and is projected to reach $14,441 million by 2031, registering a CAGR of 18.3% from 2022 to 2031. A smart doorbell is connected to the Internet, which sends a message or notification to the user on the smartphone when a visitor presses the button. It has integrated motion sensors, which sense a visitor through sensor and face recognition technology. It enables owners to view and communicate with a visitor through a built-in microphone and high-definition camera. Smart doorbells are compatible with android or IoS-based dedicated smartphapplicationstion.

COVID-19 led to the halting of manufacturing activities, resulting in the downfall of the smart doorbell industry in 2020. However, the industry started full-scale manufacturing by end of 2021.

Rise in adoption of Internet of Things (loT) Artificial Intelligence (Al) boost the growth of the smart doorbell industry. In addition, growing concerns over safety and security amongst the aging population is expected to increase the demand for smart doorbell and boost the growth of the smart doorbell market. Moreover, rise in the penetration of the internet and an increasing desire for controlling most amenities with one click are expected to drive the smart doorbell market growth.

The rise in the initiatives undertaken by authorities and the government is anticipated to provide lucrative opportunities for the growth of the smart doorbell market. Furthermore, the rise in concern against threats grows the demand for the safety of individuals and households is further anticipated to propel the growth of the market. Moreover, the rise in demand for a comfortable and luxurious lifestyle globally grows the demand for smart doorbell systems.

However, the lack availability of internet connectivity, and the high capital cost required for the smart doorbell, hamper the market growth. In addition, during the outbreak of the COVID-19 pandemic, the construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. This led to a decline in the manufacturing of various equipment used for smart doorbell as well as their demand in the market, thereby restraining the growth of the smart doorbell market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to the re-initiation of smart doorbell companies at their full-scale capacities, which helped the smart doorbell market to recover by end of 2021. On the contrary, technological innovation in smart doorbell systems is expected to provide lucrative smart doorbell market opportunities during the forecast period.

The smart doorbell market analysis is done on the basis of product type, distribution channel, end user and region. By product type, the market is divided into wired doorbell and wireless doorbell. By distribution channel, the market is divided into online and offline. By end user, the market is divided into residential and commercial. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics.

In 2021, North America was the highest contributor to the global smart doorbell market share, and Asia-Pacific is anticipated to secure a leading position expanding smart doorbell market size during the forecast period.

On the basis of product type, in 2021 the wireless doorbell segment dominated the smart doorbell market, in terms of revenue, and the wired doorbell segment is expected to witness growth at the highest CAGR during the forecast period. As per the distribution channel, in 2021, the offline segment led the smart doorbell market, and the online is expected to exhibit the highest CAGR in the near future. By end user, the residential led the market in 2021, in terms of revenue, and the commercial segment is anticipated to register the highest CAGR during the forecast period. Region wise, North America garnered the highest revenue in 2021; and Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

 COMPETITION ANALYSIS

The major players profiled in the smart doorbell market report are Panasonic Corporation, Amazon.Com, Dbell Inc., Skybell Technologies Inc., ASSA ABLOY Group, Vivint Smart Home Inc., Owlet Home LLC, Netvue Inc., Night Owl SP LLC, and LaView Eagle Eye Technology Inc.

Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers and enhance smart doorbell market trends.

KEY BENEFITS FOR STAKEHOLDERS

• The report provides an extensive analysis of the current trends and future estimations. 
• Extensive analysis of the smart doorbell market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing smart doorbell market opportunity.
• The global smart doorbell market forecast analysis from 2022 to 2031 is included in the report.
• The key market players within the global smart doorbell market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the global market.

 Smart Doorbell Market Report Highlights