Rising disposable incomes, improved lifestyles, and awareness of smart home tech are boosting smart doorbell adoption in residential and commercial spaces

WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire.com/ -- The smart doorbell market has experienced remarkable growth over the past decade, primarily driven by the rising number of working women and elderly individuals who prefer video doorbells for secure communication with visitors before opening doors. In 2021, the residential segment led the market in terms of revenue among end users, while the wired doorbell segment accounted for the highest revenue share by product type. Offline distribution channels are expected to see higher CAGR growth during the forecast period. The 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐦𝐚𝐫𝐭 𝐝𝐨𝐨𝐫𝐛𝐞𝐥𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 was valued at $2.7 billion in 2021 and is projected to reach $14.4 billion by 2031, growing at a CAGR of 18.3% from 2022 to 2031. Increasing disposable incomes, improved lifestyles, and growing awareness of smart home systems are driving adoption of smart doorbells in residential and commercial spaces, fueling market growth.

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Additionally, the rise in smart city projects, greater consumer awareness of smart doorbells, and the adoption of IoT-based technologies are further propelling the market. Leading companies, including Panasonic Corporation and Dbell Inc., are focusing on product launches, acquisitions, and innovations to expand their smart doorbell offerings, contributing to market expansion.

For example, in January 2020, Toucan Smart Home introduced a battery-powered, Wi-Fi-enabled video doorbell. This product's ease of installation, rechargeable battery, adjustable magnetic mount, and sensors have made it a popular choice for consumers seeking flexible home security solutions. Rapid urbanization and the adoption of building automation in various economies are also supporting the smart doorbell market’s growth. Furthermore, the rise of smartphones and connected devices, which offer superior features compared to traditional doorbells, is boosting market demand.

Government investments in smart city initiatives provide additional opportunities for the smart doorbell market. Global spending on smart city projects is projected to increase from $124.0 billion in 2020 to $189.5 billion in 2023, offering substantial growth potential.

However, the COVID-19 pandemic led to temporary production halts for many companies with significant smart doorbell market shares, particularly in countries such as China, the U.S., and India. These disruptions directly impacted sales but were expected to rebound with the reopening of production facilities and vaccine rollouts.

Challenges such as limited internet availability and the high costs associated with smart doorbells may hinder market growth. Nevertheless, ongoing technological innovations are expected to create lucrative opportunities in the sector.

Consumers are increasingly adopting smart locks alongside smart doorbells in both residential and commercial settings due to their high security, remote access capabilities, and alerts for potential security breaches. Integrating smart locks and doorbells enhances security and reliability, driving the market forward. Additionally, advanced features like facial recognition and motion detection by key players support market growth. Vendors also focus on offering smart locks compatible with specific smart doorbells, further driving the market.

Safety and security considerations in home automation, such as smart doorbells and locks, are particularly important in residential and commercial sectors, leading to increased adoption of video intercom systems, voice-activated devices, and smart outlets. Both large corporations and startups are competing in the profitable home security and access control market.

Major companies like Ring Inc. and Belkin International Inc. are also pushing the market forward through technological advancements. In January 2020, Belkin introduced a smart video doorbell with smart plugs and lighting solutions compatible with multiple platforms, offering enhanced features like a wide field of view, high-resolution camera, and night vision for improved home security.

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Key Findings:

The report provides comprehensive analysis of the smart doorbell market, including current and emerging trends.
The wireless segment generated the highest revenue by product type in 2021.
The offline segment led in revenue by distribution channel in 2021.
The residential segment held the highest revenue share by end user in 2021.
North America is expected to dominate the global smart doorbell market over the study period.


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Allied Market Research
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