Press Release Description
Smart Doorbell Market Hits USD 16.2 Billion in 2023, Estimated 16.7% CAGR Growth by 2030
The Global Smart Doorbell Market size was valued at around USD 16.2 billion in 2023 and is estimated to grow at a CAGR of about 16.7% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. Increased internet access and a growing preference for efficient control of home amenities are driving the growth in this sector. Consumer awareness of personal safety and home security has been growing, which contributes significantly to the global adoption of these devices. Furthermore, the demand for smart doorbells corresponds to the trend of urbanization and the growing penetration of building automation in various structures.
Moreover, the use of IoT devices is on the rise, particularly smart cameras integrated with doorbells. These cameras, which have video analytics and recognition capabilities, monitor movement and events. They function as smart security cameras, allowing homeowners to record security incidents and provide alternatives to traditional doorbells and peepholes.
The trend of customization and personalization in the Smart Doorbell Market caters to individual preferences. Manufacturers provide customizable options, allowing users to customize their smart doorbell experience. These features enable simple modification, accessibility to previous information, and effective operation of device functionality, positively impacting market demand in the coming years.
Furthermore, the expanding need for smart doorbells has resulted in the introduction of numerous new products by various companies in the Global Smart Doorbell Market. These innovations, which are available at affordable rates, would make major contributions to the industry's prospects for expansion in the near future, further states the research report, “Global Smart Doorbell Market, 2024.”
Global Smart Doorbell Market Segmentation Analysis
Wireless Smart Doorbells to Dominate the Market
Based on the type, the market is further bifurcated into, Wired & Wireless. Of them, Wireless doorbell type is predicted to capture the dominant share of the Smart Doorbell Market in the forecast years. Consumers widely favor wireless doorbells due to their simplified installation process, eliminating the need for intricate wiring found in traditional wired doorbell systems. Their flexibility allows installation in various home settings and compatibility with multiple receivers. The global shift towards wireless alternatives has witnessed remarkable growth, offering a diverse range of attractive features that surpass those of wired doorbells. This surge has consequently led to amplified production and expanded market opportunities for wireless doorbells.
North America to Have a Strong Foothold Across the Global Smart Doorbell Market
In the coming years, North America is expected to dominate the Smart Doorbell Market, representing a significant share. The region's strong inclination toward smart home automation devices have resulted in the widespread acceptance of smart doorbells. Moreover, increased worries regarding property crimes and security challenges encourage homeowners to invest substantially in home automation systems, contributing to the expansion of the Smart Doorbell Market in North America.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Ring (Amazon), Nest (Google Inc.), Arlo [NETGEAR], Eufy [Anker Innovations], August [Assa Abloy Inc.], Wyze Labs Inc., Simplisafe Inc, Vivint Inc. , Hangzhou Hikvision Digital Technology Co., Ltd., Remo+, Netamo, Logitech [Logitech Circle], Doorbird, Zmodo , Heath Zenith, and Others, are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the Smart Doorbell Market?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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