Emphasis on Product Type (Wired Doorbell, Wireless Doorbell); Distribution Channel (Online, Offline); End-User (Residential, Commercial); Region/Country
Global Smart Doorbell Market is expected to grow at a significant rate of around 15% during the forecast period. A rise in the consumer’s income coupled with the growing real estate sector is one of the prominent reasons contributing to the growing demand for smart Doorbells. Moreover, emerging demand for smart homes and smart cities is also propelling the market growth of smart doorbells. Smart cities are growing globally due to urbanization, which is enabling growth. According to projections by the United Nations, in India, 404 million, in China, 292 million, and in Nigeria, 212 million urban inhabitants are Projected to be added to the existing population by 2050. There will be more, and bigger, cities in the future. In 1900, 10% of the world’s population lived in cities. Today the figure is over 50%, and it will reach 75% by 2050 (The Urban Age Project, London School of Economics). The government initiatives and spending are also giving much more significance to platform providers as compared to independent smart solutions because of the Expandability and integration of other smart solutions. According to Consumer Technology Association, smart city spending on a global scale is expected to reach USD 34.35 billion in 2050.
In addition, the growing demand for smart home devices is also contributing to market growth. Driven by high broadband penetration, the availability of 5G connections, and the increasing number of wireless home networks, the worldwide market for smart home devices grew by 11.77% in 2021 compared to 2020. As per IDC, the global market for smart home devices grew 11.7% in 2021 compared to 2020 with more than 895 million devices shipped.
Panasonic Corporation, Shenzhen VStarcam Technology Co., Ltd., Ring Inc., SkyBell Technologies Inc., Legrand, Chui, Smartwares Group, Arlo Technologies Inc., August Inc., Danke Intelligent Technology Co Ltd., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, wireless category to witness higher CAGR during the forecast period”
Based on the product type, the market is segmented into wired doorbells and wireless doorbells. The wireless segment grabbed the major market share and dominated the market in 2020. The benefits associated with the wireless smart Doorbells such as doorbell can go with you when you move, can personalize the chime., Easy integration with other smart devices around the home, set up motion-activated alerts and receiving notifications straight to your phone, Wire-free options offer a sleek design that cuts down on extraneous cords, etc., are contributing to the market growth.
“Amongst distribution channel, wireless category to witness higher CAGR during the forecast period”
Based on the distribution channel, the market is segmented into online and offline. The offline segment grabbed the major market share and dominated the market in 2020. The emerging number of supermarkets, Speciality stores, etc., is one of the key factors contributing to the market growth of this segment. However, the online segment would witness the highest CAGR during the forthcoming years owing to the emergence of internet penetration and the adoption of smart mobile phones.
“Amongst end-users, the residentials to hold a significant share in the market in 2020”
On the basis of end-users, the market is segmented into Residential and Commercial. The residential segment grabbed the major market share and dominated the market in 2020. A rise in the number of smart homes and smart cities across the globe is one of the prominent reasons contributing to the market growth.
“Asia Pacific to hold a significant share in the market”
In 2020, Asia Pacific held a significant share of the global Smart Doorbell market. Asia Pacific region dominated the market and grabbed a major market share in 2020. Increased progress on the Internet of Things (IoT) and artificial intelligence (AI) capabilities has prompted manufacturers to create smart doorbells that are appropriate for use in both home and business settings. However, North America would witness a considerable CAGR during the forthcoming years as well.
Reasons to buy this report:
Customization Options:
The global Smart Doorbell market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Smart Door Bell Market
6. Smart Door Bell Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Product Type
8. Market Insights By Distribution Channel
9. Market Insights By End-user
10. Market Insights By Region
11. Smart Door Bell Market Dynamics
12. Smart Door Bell Market Opportunities
13. Smart Door Bell Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Smart Doorbell Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global smart Doorbell market were the three major steps undertaken to create and analyze the adoption of smart Doorbell in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global smart doorbell market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the smart doorbell market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the smart doorbell market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, distribution channel, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Smart Doorbell market. Further, we conducted factor analysis using dependent and independent variables such as product, distribution channel, and end-users of Smart Doorbell. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Smart Doorbell market across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global smart doorbell market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global smart doorbell market. Data was split into several segments & sub-segments post studying various parameters and trends in the product type, application, and end-user in the global Smart Doorbell market.
The main objective of the Global Smart Doorbell Market Study
The current & future market trends of the global Smart Doorbell market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Customers who bought this item also bought
Experiential Retail Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type of Experience (In-Store Technologies (AR, VR, AI), Multi-Sensory Experiences (Scent, Sound, Visual), Pop-Ups & Immersive Installations, Live Events & Demonstrations, and Others); Retail Format (Department Stores, Specialty Stores, Pop-Up Stores, Flagship Stores, and Others); Industry (Apparel and Fashion, Beauty and Personal Care, Consumer Electronics, Luxury Goods, Food and Beverage, Home Decor, and Others); and Region/Country
November 7, 2024
