Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the smart doorbell market was pegged at $2.4 billion in 2020 and is expected to reach $12.3 billion by 2030, growing at a CAGR of 17.2% from 2021 to 2030.
Rising adoption of intention of things (IoT) and artificial intelligence (AI) in doorbell systems is driving the global smart doorbell market. However, concerns about the safety and security of the people complement the growth of the market. However, lack of availability of internet connectivity and high cost of capital is hampering the growth of the market. On the contrary, the increase in initiatives undertaken by the authorities and the government would unlock lucrative opportunities in the future.
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- The Covid-19 pandemic has negatively impacted the market due to the halt in construction activities globally and the low penetration of smart doorbells in commercial and residential spaces.
- However, supply chain disruption and difficulties in sourcing electronic components have hampered the growth of the market.
The report segments the global smart doorbell market on the basis of product type, distribution channel, end-user, and region.
By product type, the wireless doorbell segment held the lion’s share in 2020, accounting for more than two-thirds of the market. However, the wired doorbell segment is expected to show the highest CAGR of 17.5% from 2021 to 2030.
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Based on the distribution channel, the online segment is expected to register the highest CAGR of 17.7% during the forecast period. However, the offline segment dominated the market in 2020, contributing more than three quarters of the market.
The global smart doorbell market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the greater share in 2020, accounting for around two-fifths of the market. However, the Asia-Pacific market is expected to show the highest CAGR of 18.0% during the forecast period.
The global smart doorbell market includes an in-depth analysis of major market players such as Panasonic Corporation, Ring Inc., Shenzhen VStarcam Technology Co., Ltd., Legrand, Chui, SkyBell Technologies Inc., Arlo Technologies Inc., Smartwares Group, August Inc. and Danke Intelligent Technology Co Ltd.
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Key players in the global smart harvesting market analyzed in the research include Robert Bosch, Deere & Company, Dogtooth Technologies, Harvest Automation, Abundant Robotics, Agrobot, Harvest, and AVL Motion.
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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 corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Pawan Kumar, CEO of Allied Market Research is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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