The video doorbell market size was valued at $1.2 billion in 2021, and is estimated to reach $4.6 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.
Increase in concerns about thefts and burglary have led people to use video doorbells. In addition, factors such as rise in investments in R&D activities by key market players to develop more advanced products is expected to boost the video doorbell market growth. Moreover, adoption of internet of things (IoT) and artificial intelligence (AI) in doorbell systems is on the rise, which is likely to boost the growth of the video doorbell market. Furthermore, people are becoming aware of video doorbells as suitable options for safety and security needs, which is expected to expand the growth of the video doorbell market. Rise in penetration of the internet, along with the desire for convenience of controlling most amenities with just one click of the button is expected to promote the sales of video doorbells.
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North America accounted for the largest share of the global video doorbell market share, in terms of revenue in 2021, owing to the rise in urbanization and growth of construction sector.
A video doorbell is a doorbell connected to a camera. This allows to see who is at the door by using your smartphone, tablet, or other connected devices. It has 1080 full HD camera and an advanced built-in intruder alarm. It has various types of features such as microphone, motion detection, top-to-toe video, and voice assistant compatibility.
Industry News:
Major players have adopted product launch and acquisition as key strategies to sustain the competition and improve product portfolio. For instance, in October 2021, Wyze launched Video Doorbell Pro, an upgraded ultra-wide resolution that allows its users to see a wider area of their porch as well as comes with wire-free installation. This launch is likely to add enrichment to its product line. Such launches are anticipated to expand the video doorbell market.
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The video doorbell market is segmented into Product Type, Application and End User and region.
On the basis of product type – Wired, Wireless.
By application – the market is bifurcated into indoor and outdoor.
By end user -the market is classified into residential and nonresidential
Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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