The smart doorbell market is estimated to grow at a CAGR of 17.53% between 2022 and 2027. According to Technavio, the market size is expected to increase by $4,000.34 million. The growing adoption of IoT in smart doorbells is a major trend shaping the market. The adoption of IoT devices, such as smart home cameras, is on the rise. These cameras have built-in video recognition and analysis functions, which can track the movements of people and objects. Market parties offer wired and wireless indoor and outdoor security cameras for homes. They also offer compatibility with other smart home devices such as Amazon Alexa, Google Assistant and Apple HomeKit. Thus, such factors will drive the growth of the market during the forecast period. Check out the new sample report in minutes!
Technavio has announced its latest market research report titled Global Smart Doorbell Market 2023-2027.
The standard of living is particularly the driving force behind the market growth. The rise in income levels can be attributed to an increase in the labor force around the world. This allows more consumers to purchase smart home solutions, driving demand for smart doorbells. Regions such as North America, Oceania and Europe are seeing growth in recreational and tourism activities. People install smart home security systems to ensure the safety and security of their homes. Therefore, increasing consumer spending on smart solutions such as home automation devices is expected to drive the growth of the smart doorbell market over the forecast period.
Smart Doorbell Market is segmented as follows:
Market share growth by the wired segment will be significant during the forecast period. Wired smart doorbells are very popular because they offer a more stable and reliable connection than wireless doorbells. These doorbells have features such as video recording, motion detection and night vision. Wired smart doorbells integrate with other smart home devices, such as security cameras, smart locks, and voice assistants. Therefore, the demand for wired smart doorbells is expected to increase, driving the growth of the smart doorbell market over the forecast period.
Poor network coverage is the challenge affecting the growth of the market. Smart doorbells need a reliable high-speed internet connection to work properly. Many countries, such as South Korea, Japan, and the UK, have advanced internet infrastructure. However, some countries lack basic network infrastructure, which affects the adoption of smart doorbells. Communication technology must be fast and have a wide range for the smart doorbell to work continuously. Poor network coverage leads to poor connectivity, no video playback, and frequent dropped connections. Therefore, poor coverage of smart doorbells may hinder market growth during the forecast period.
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