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Smart Doorbell Market Development, Opportunities, Ongoing Trends and Forecast 2030 | Growing at a CAGR of 17.2%


Smart Doorbell Market by Product Type, by Distribution Channel , by End User: Global Opportunity Analysis and Industry Forecast, 2020-2030

PORTLAND, OR, UNITES STATES, July 14, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Smart Doorbell Market,” The smart doorbell market size was valued at $2.4 billion in 2020, and is estimated to reach $12.3 billion by 2030, growing at a CAGR of 17.2% from 2021 to 2030.

Major players, such as Panasonic Corporation, Dbell Inc., and others are engaged in adopting product launch, acquisition, and product development as a key developmental strategy to improve the product portfolio of smart doorbell products, boost the growth of the smart doorbell market. For instance, in January 2020, Toucan Smart Home launched wi-fi video doorbell system, which is the first battery powered 1800 wi-fi based video doorbell device. It offers easy to install and consumer demand for flexible smart home security solutions. It has components, such as rechargeable battery, adjustable magnetic mount, PRI sensor, and PIR sensor to maximize performance. All such products drive the growth of the smart doorbell industry.

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Rapid urbanization in various economies increases building automation, which drives the growth of the market. In addition, rise in adoption of smartphones and connected devices, and their superior features as compared to traditional doorbell systems fuels the growth of the market. Moreover, rise in government spending on smart city projects is anticipated to provide lucrative opportunities for the growth of the smart doorbell devices, which fuels the smart doorbell market growth. For instance, the spending on smart city initiatives globally is expected to rise by $189.5 billion in 2023 from $124.0 billion in 2020.
However, numerous manufacturers in the global smart doorbell market had to halt their business production, due to lockdown imposed in countries such as China, the U.S., India, and others due to the coronavirus (COVID-19) issue. This disruption has a direct impact on the sales of smart doorbell systems. However, reopening of production facilities and introduction of COVID-19 vaccines are projected to lead to the reopening of the smart doorbell at full pace.

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However, lack of availability of internet connectivity and high capital cost required for smart doorbell, hamper the growth of the smart doorbell market. Furthermore, technological innovation in the smart doorbell systems, are anticipated to provide lucrative smart doorbell market opportunity during the forecast period.

The smart doorbell market is segmented into product type, distribution channel, end user, and region. On the basis of product type, the market is segregated into wired doorbell and wireless doorbell. The wireless doorbell segment dominated the market in 2020. By distribution channel, the market is divided into online and offline. The offline segment have largest smart doorbell market share in 2020. By end user, the market is divided into residential and commercial. The residential segment dominated the market in 2020.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2020, and Asia-Pacific is expected to grow with the highest CAGR of 18.0% during the forecast period.

Top Players:

The key market players profiled in the report of smart doorbell market include, Panasonic Corporation, Shenzhen VStarcam Technology Co., Ltd., Ring Inc., SkyBell Technologies Inc., Legrand, Chui, Smartwares Group, Arlo Technologies Inc., August Inc., and Danke Intelligent Technology Co., Ltd.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
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