Smart Doorbell Market size is set to grow by USD 6.74 billion from 2024-2028, Increasing demand for smart locks boost the market, Technavio

NEW YORK, June 3, 2024 /PRNewswire/ -- The global smart doorbell market size is estimated to grow by USD 6.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 22.82%  during the forecast period. 

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Market Driver

The smart doorbell market is experiencing growth due to the rising trend of using these devices as part of a video surveillance network. This is particularly attractive to law enforcement organizations, who are partnering with vendors to gain access to footage. Police departments are offering incentives for residents to install smart doorbells, which come equipped with features like cameras, microphones, speakers, and remote locking & unlocking. Urbanization and the increasing crime rate have heightened the need for domestic security measures, leading to a surge in demand for these advanced doorbells.

Additionally, the flexibility and convenience they offer, such as notifications and artificial intelligence capabilities, make them a desirable luxury for individuals and families. The market for smart doorbells is further boosted by the influx of e-commerce retailers and the integration of these devices into building automation and security systems. Despite potential inflation risks and disruptions, businesses are de-risking by investing in this technology, driven by the rising awareness of home safety and the importance of personal security. 

Market Challenges

•         The smart doorbell market is in its early stages, with vendors continually enhancing their offerings to address home safety and security needs. Advanced electronics integration brings complexities and technical challenges, such as video switching issues and connectivity concerns. Despite these hurdles, rising awareness for individuals and families' well-being drives demand for doorbell cameras, AI features, and real-time protection.

•         Commercial spaces, including hotels and lobbies, also adopt smart doorbells for convenience and security. Infrastructural development and digitalization further fuel market growth, while cybersecurity threats and data breaches pose challenges. Smart home automation, Wi-Fi connectivity, and two-way audio systems are essential features. Consumers prioritize safety practices and invest in smart security devices for peace of mind.

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Segment Overview 

1. Type 
• 1.1 Wired
• 1.2 Wireless
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Wired-  The smart doorbell market is segmented by type, with wired doorbells holding a significant market share in 2023. Wired smart doorbells, such as the Ring Video Doorbell, offer advanced features like two-way audio systems, AI capabilities, and integration with smartphones and tablets. These safety practices cater to consumers' increasing demand for home security in the context of urbanization and infrastructure development. Wired smart doorbells are not limited to residential use but are also prevalent in commercial establishments like hotels and lobbies.

The integration of home automation, smart appliances, and digitalization further enhances their appeal. The market growth is driven by the digitalization trend, the increasing use of internet-controlled devices, and the rising crime rate. Smart doorbells, which include a webcam, microphone, and speaker, serve as personal security devices, offering features like remote locking & unlocking, notifications, and integration with burglar alarms.

Despite the benefits, businesses face inflation risks and disruptions, necessitating de-risking strategies. Overall, the smart doorbell market is expected to continue growing due to the flexibility and convenience it offers in managing domestic security measures and video surveillance networks, deterring burglaries and ensuring peace of mind for consumers.

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Research Analysis

The Smart Doorbell Market has experienced positive growth in recent years, driven by the increasing prioritization of individuals and families' safety and well-being. Smart security devices, such as doorbell cameras with AI features, have become increasingly popular due to their cheaper prices and real-time protection against cybercrime and data breaches. These devices, which can be connected to Wi-Fi, offer consumers the ability to monitor their homes and even communicate with visitors through a two-way audio system.

Infrastructural development and the expansion of smart homes have further fueled the demand for these devices. Key features include AI capabilities, integration with smartphones and tablets, and the ability to enhance safety practices. Despite the benefits, it is essential to remain vigilant against potential cyber threats and ensure proper installation and usage to maximize the positive impact of these smart devices.

The Smart Doorbell Market is a rapidly growing segment in the home security industry. These advanced devices offer features such as real-time notifications, high-definition video, two-way audio communication, and motion detection. They provide convenience and security, allowing homeowners to monitor their property and interact with visitors remotely. The market is driven by increasing consumer demand for smart home solutions and technological advancements in video and audio technology.

Additionally, the integration of artificial intelligence and machine learning algorithms enhances the functionality of these devices, making them an essential component of modern home security systems. The use of durable materials and long-lasting batteries ensures their longevity and reliability. The market is expected to continue its growth trajectory due to the increasing adoption of smart home technology and the rising concern for home security.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Wired
• Wireless
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio