New York, US, July 13, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Smart Doorbell Market information by Type, by Components, by End-User and Region – forecast to 2027” the 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%.
Dominant Key Players on Smart Doorbell Market Covered Are:
- Panasonic Corporation (Japan)
- SkyBell Technologies Inc. (US)
- Shenzhen VStarcam Technology Co. Ltd (China)
- Ring Inc. (US)
- dbell Inc. (US)
- August Inc. (US)
- Chui (US)
- Legrand (France)
- Danke (XIAMEN) Intelligent Technology Co. Ltd. (China)
- SkyBell Technologies Inc. (US)
- Smartwares Group (Netherland)
- Arlo Technologies Inc. (US)
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Market USP exclusively encompassed:
Smart Doorbell Market Drivers
Increasing Demand for Smart Locks
Consumers are increasingly interested in smart locks because of features such as flexibility with high security, ease of installation, remote locking and unlocking, and quick alerts to homeowners in the event of a burglary. New entrants into the worldwide smart lock market have resulted in the availability of new products at affordable prices. Customers’ demand for a smart lock and smart doorbell combo will drive the worldwide smart doorbell market. Smart locks and smart doorbells with advanced technological integration provide great safety and reliability, which is projected to drive industry growth. Manufacturers use facial recognition technology in their products, as well as automatic motion detection, which serves as an additional driver for the smart doorbell industry. For smart doorbell vendors concerned with putting value-added features into their products, facial recognition technology might be a game-changer.
Increasing Security Issues
When doorbells are connected to the internet, attackers can gain access to the portal using cross-site scripting and code injection and obtain user credentials. When connected to a wireless network, hackers can gain access to the smart doorbell, posing a threat to home security. These security concerns are projected to have a detrimental influence on industry growth overall.
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Segmentation of Market covered in the research:
By Type, Wired Doorbell to Capture the Largest Smart Doorbell Market Share
The wired doorbell segment is anticipated to hold the larger market. However, the wireless doorbells segment is projected to register the higher CAGR during the review period as it is more versatile, easy to install with various channel operation, and affordable.
By Component, Hardware Segment to Dominate the Smart Doorbell Market
The hardware segment is anticipated to dominate the market, and it is predicted to register a strong CAGR during the assessment period. The major hardware component of smart doorbell involves camera, light and motion sensors, microphone, infrared LED, and speaker.
By End User, Residential Segment to Register the Highest CAGR
The residential segment constitutes the biggest adopters of door intercom; it is projected to register the highest CAGR during the forecast period. The growth in smart home construction activities across the globe drives the demand for smart doorbells.
By Sales Channel, Store-Based Segment to Lead the Global Market with Largest Market Share
Globally, the store-based segment is projected to hold a larger market. However, the non-store-based segment is projected to register the highest CAGR during the forecast period. Most of the bulk orders of doorbells are placed through non-store-based channels owing to the ease of purchase.
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Smart Doorbell Market Regional Analysis
APAC to Dominate the Global Market with Largest Share
The Asia Pacific is predicted to hold the greatest share of the global smart doorbell market. Advances in Internet of Things (IoT) and artificial intelligence (AI) technologies have prompted manufacturers to create smart doorbells that can be used in both residential and commercial settings. Furthermore, the region’s real estate sector’s growth may increase demand in the smart doorbell industry.
Europe to Follow APAC
Europe is the second-largest market for smart doorbells, owing to a high concentration of market players, simple availability of skilled technical expertise, and an increasing number of smart buildings. Furthermore, the growing requirement for residents’ safety and security in apartments and condominiums has contributed to the expansion of the door intercom industry in Europe.
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COVID-19 Impact on the Global Smart Doorbell Market
The COVID-19 pandemic has had an impact on the market, both positively and negatively. People have been confined to their houses as a result of the global lockdowns enacted to stop the spread of COVID-19. The coronavirus spreads through frequently touched surfaces. Smart doorbells are critical in preventing the transmission of the virus. Voice-controlled electronic devices aid in reducing instances of physical contact in people’s homes. Smart doorbells, which use video cameras and speakers, can also ensure that clients receive deliveries without coming into close contact with the person delivering the delivery. Furthermore, a surge in the construction of smart homes is increasing the demand for smart doorbells. The halting of construction activity and delays in construction projects induced by the pandemic, on the other hand, are impeding the market growth.
Smart doorbells are also utilized in commercial applications. However, the halt in the construction of new offices due to the COVID-19 pandemic is impeding the market growth. Furthermore, the temporary halt in the production of smart devices as a result of the closure of manufacturing facilities in several countries has had an influence on the sales of smart doorbells. The ongoing COVID-19 crisis has interrupted the electronics value chain and raw-material supply, posing an inflationary risk on the products. These disruptions have prompted firms to focus on risk mitigation while analyzing their end-to-end value chains and adopting a remote working policy.
Impact of COVID-19 on the Smart Doorbells Market
https://www.marketresearchfuture.com/report/covid-19-impact-smart-doorbells-market
Industry News
In June 2021, Ring unveiled Ring Video Doorbell Wired, an entry-level wired version. This product, as the name implies, requires that you have existing doorbell wiring. The main advantage of not having an internal battery is that it is quite slim while yet capable of Full HD 1080p video.
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