Video Doorbell Market To Reach USD 5.74 Billion By 2028 Growing At A CAGR Of 17.3% During 2020 – 2028
Increasing concerns about security and safety at homes as well as commercial spaces, rising number of thefts and increasing adoption of cloud storage systems
VANCOUVER, BC, CANADA, November 10, 2022 /EINPresswire.com/ — The global Video Doorbell Market size is expected to reach USD 5.74 Billion by 2028 and register a CAGR of 17.3%, according to the latest report by Emergen Research. Key factors such as rising adoption of Artificial Intelligence (AI), rapid growth in digitalization, and increasing need for deployment of video doorbells are driving global market revenue growth.
A video doorbell also called a doorbell camera is an outdoor camera installed on the front door of the house and is connected to smartphones or other electronic devices via internet. Video doorbell notifies the owner about the guest or person present at the doorstep. There are various types of camera doorbells available in the market with various features like microphones, top-to-toe video, motion detection, night vision, voice assistant compatibility, and intercom among others. Increasing concerns about thefts has encouraged people to deploy video doorbells. Factors such as increasing investments in research and development activities by leading market players to develop more advanced products, rising awareness about importance of video doorbells and increasing demand for smart homes are boosting global market growth.
However, lack of awareness about video doorbells in several underdeveloped countries and requirement of high initial costs for deploying video doorbells are factors expected to hamper market growth going ahead.
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Some key highlights in the report:
Among the product type, the wireless segment is expected to register for significantly rapid revenue growth owing to factors such as easy deployment with no damage to walls, remote accessibility. Moreover, these types of video doorbells are in demand due to high convenience as it doesn’t involve wiring, and modern homes do not usually permit drilling and wiring after construction.
Based on distribution channel, the online segment is expected to register rapid revenue CAGR throughout the forecast period. Availability of a variety of video doorbell products on various online portals, increasing number of reliable online platforms at favorable discounted rates, and doorstep deliveries, and are key factors boosting segment growth. In addition, these online platforms offer better profit margins for manufacturers.
Among the application segments, the residential segment is expected to account for significant revenue growth over the forecast period. Rapid urbanization, rising safety concerns, growing inclination towards smart homes, and increasing awareness about advantages of video doorbells in developing as well as developed countries are some key factors boosting demand for video doorbells in the residential sector.
North America is expected to account for largest revenue share throughout the forecast period owing to factors such as presence of key market players, increasing concerns regarding home safety, increasing investments in wireless technology, availability of wide range of video doorbells, and high adoption of smart homes.
Asia Pacific market revenue is expected to expand at a rapid CAGR between 2021 and 2028. Rising number of thefts and burglary cases, increasing awareness about advantages of deploying video doorbells, and rapid developments in building and construction sector are some factors boosting Asia Pacific market growth.
Ring, Kwikset, Aiphone, SmartThings, Smanos. AMOCAM Technology, SkyBell, Equeshome, Zmodo, and VTech Communications are some major players operating in the video doorbell market.
In February 2021, Ring launched a novel video doorbell product, Ring video doorbell Pro 2 offering head-to-toe video, 1536p HD video, 3D motion detection, and bird’s eye view to provide a clearer view.
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The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Video Doorbell Market segmentation
Product Type Outlook (Revenue, USD Billion, 2018 – 2028)
Wireless
Wired
Distribution Channel Outlook (Revenue, USD Billion, 2018 – 2028)
Online
Offline
Application Outlook (Revenue, USD Billion, 2018 – 2028)
Commercial
Industrial
Residential
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Regional Outlook of Video Doorbell Market:
North America
S.
Canada
Mexico
Europe
Germany
K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA
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Key Features of the Video Doorbell Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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