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Doorbell Camera Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global doorbell camera products market is estimated to reach USD 3.2 billion in 2023 and is projected to expand at a CAGR of 10.2% from 2024 to 2031. The rising adoption of advanced technology and the increasing demand for home security solutions are mainly driving the market growth. In addition, the increasing trend of DIY (do-it-yourself) installation of doorbell cameras is also driving the market growth. Furthermore, the increasing trend of smart homes is expected to create lucrative opportunities for the market.
Moreover, the increasing demand for remote viewing is also driving the market growth. Doorbell cameras provide a feature of remote viewing, which allows the user to view their home from a mobile device. This feature allows users to monitor their home in real-time and even receive alerts when a visitor or intruder is detected. Furthermore, the increasing demand for cloud-based doorbell camera systems is propelling the market growth. Cloud-based doorbell cameras offer a range of features such as remote monitoring, event detection, and push notifications.
Furthermore, the increasing trend of connected doorbells is also driving the market growth. Connected doorbells allow users to monitor their homes from anywhere and anytime. This feature enables users to control their doorbells using their smartphones. In addition, the increasing demand for facial recognition technology is expected to have a positive impact on the market. Facial recognition technology enables users to identify visitors and record their activity. Furthermore, the increasing use of artificial intelligence (AI) in doorbell cameras is also driving the market growth.
In addition, the increasing demand for voice assistant integration is also expected to drive the market growth. Doorbell cameras with voice assistant integration allow users to control their doorbells using voice commands. Furthermore, the increasing demand for wireless doorbell cameras is propelling the market growth. Wireless doorbell cameras are easy to install and offer features such as night vision, motion detection, and two-way audio.
Moreover, the increasing trend of home automation is also driving the market growth. Home automation enables users to control their doorbells using a single platform. This feature allows users to control their doorbells from anywhere and anytime. Furthermore, the increasing demand for advanced security solutions is also propelling the market growth. Advanced security solutions such as biometric doorbells, video doorbells, and smart locks are expected to create lucrative opportunities for the market.
Product Insights
The wireless segment held the largest share in the market in 2020. Wireless doorbells are gaining traction due to their easy installation and flexibility to move from one destination to another. Moreover, wireless doorbells are powered by batteries and can be easily connected to a home Wi-Fi network. This enables users to receive notifications on their smartphones when someone rings the doorbell.
The video doorbells segment is expected to expand at the fastest CAGR of 9.3% over the forecast period. Video doorbells are connected to a network and can provide audio and video recordings when someone rings the doorbell. The increasing demand for video doorbells can be attributed to the rising security concerns among individuals. According to an article published by Business Insider, in June 2020, research revealed that 85% of people are concerned about their home security. Furthermore, the rapid developments in advanced technologies such as artificial intelligence (AI) and machine learning are further propelling the growth of the market.
Distribution Channel Insights
The doorbell camera products market is mainly distributed through online channels. The online distribution channel captured over 60.5% in 2022. The growth of the segment is mainly attributed to the increasing penetration of digitalization and the increasing availability of virtual channels in the market. Moreover, the increasing presence of manufacturers across the globe on various online platforms and their ability to offer discounts and promotions to consumers on a regular basis is further driving the growth of the segment.
The brick and mortar stores segment is anticipated to expand at a CAGR of 5.9% over the forecast period. This is mainly attributed to the increasing presence of retailers and distributors across the world. The availability of doorbell camera products in physical stores enables consumers to get a close look and feel of the product before making a purchase decision. Furthermore, the presence of knowledgeable staff in physical stores helps consumers in understanding the features of a doorbell camera.
Type Insights
The wired doorbell camera segment accounted for the largest revenue share of 69.9% in the year 2022. The low cost and easy installation of wired doorbells make them the most preferred choice among customers. In addition, the presence of a dedicated power source eliminates the need for frequent charging of the doorbell camera. Furthermore, the increasing adoption of AI-enabled features in wired doorbells such as facial recognition and voice recognition is driving the market.
The wireless doorbell camera segment is anticipated to expand at the highest CAGR of 15.4% over the forecast period. The increasing demand for smart doorbells due to their convenience and portability is driving the market. In addition, the increasing deployment of wireless technologies such as Wi-Fi, Bluetooth, and Zigbee in doorbells is propelling the market. The presence of these technologies enables users to access doorbells remotely and monitor activities at the doorstep. Furthermore, the growing trend of DIY home security is boosting the demand for wireless doorbells.
Regional Insights
The Asia Pacific region is expected to be the largest market for doorbell cameras due to the increasing adoption of smart home solutions in the region. Factors such as the growing number of residential and commercial projects in the region and a surge in disposable incomes are driving the market in this region. Additionally, the availability of a wide range of doorbell cameras at low prices is supporting the growth of the market. For instance, in April 2021, Xiaomi launched the Xiaofang Doorbell Camera in India for an estimated price of INR 3,999.
North America is expected to witness significant growth due to the presence of prominent players in the region such as Google LLC, Amazon.com, Inc., and Ring LLC. This region is witnessing a growing demand for smart home solutions owing to the increasing consumer preference for convenience and automation. Moreover, the growing consumer awareness regarding the security and convenience offered by doorbell cameras is expected to drive the growth of the market in this region.
Financial Projections
In this part of the Doorbell Camera Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your doorbell camera products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a doorbell camera products business comes from sales of products, installation and maintenance services, warranties, and subscription services. Here you will find a list with a description of each of them and other possible sources of profit such as advertising and affiliate programs.
Projecting Expenses
In this section, all the regular expenses related to keeping the doorbell camera products business running will be described. The list of operating expenses includes product development costs, marketing and advertising expenses, wages, utilities, insurance policies, taxes, and others.
Key companies & market share insights
Some of the key companies operating in the doorbell camera market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Ring Inc. launched the Ring Video Doorbell 3 Plus, an advanced doorbell camera with improved motion detection, a built-in siren, and a higher resolution camera.
– In August 2022, Skybell Technologies launched the Skybell HD Elite, a doorbell camera with a wide-angle lens, advanced motion detection technology, and two-way audio.
– In October 2022, August Home Inc. introduced the August Doorbell Cam Pro, a high-definition video doorbell camera with advanced home automation capabilities.
Some of the prominent players in the doorbell camera market include:
– Ring Inc.
– Skybell Technologies
– August Home Inc.
– Vivint, Inc.
– Alarm.com
– Zmodo Technology Corporation
– Swann Communications
– Netatmo
– Arlo Technologies, Inc.
– Amcrest Technologies LLC
Global Doorbell Camera Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global doorbell camera products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Wired Doorbell Cameras
– Wireless Doorbell Cameras
– Smart Doorbell Cameras
– Video Doorbell Cameras
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Doorbell Camera Products Market?
[A]: The increasing adoption of smart homes, rising safety and security concerns, and technological advancements are the primary drivers of the doorbell camera products market. The introduction of advanced features such as facial recognition and two-way audio in doorbell cameras has led to an increase in demand in recent years. Additionally, the advent of 5G network and the growing popularity of cloud-based solutions are expected to create greater opportunities for the doorbell camera products market over the forecast period.
[Q]: Who are the Major Players in the Doorbell Camera Products Market?
[A]: Major players in the doorbell camera products market include Amazon, Netatmo, August Home Inc., Google, Skybell Technologies, Ring Inc., Remo+ Inc., Vivint Inc., and Zmodo Technology Corporation.
[Q]: What are the Growth Prospects for the Doorbell Camera Products Market?
[A]: The doorbell camera products market is expected to register a CAGR of 11.2% during the forecast period. The growing demand for video doorbells has been attributed to their increasing use in homes, offices, and other commercial spaces. Furthermore, the increasing demand for innovative features such as facial recognition and two-way audio is expected to create potential opportunities for the market.
[Q]: What are the Challenges Facing the Doorbell Camera Products Market?
[A]: Significant challenges include high installation costs, privacy concerns, and the need for a reliable power source. The high costs associated with the purchase and installation of doorbell cameras may deter customers from investing in these devices. Furthermore, privacy concerns are a major issue, as doorbell camera footage may be used to monitor the activities of people in their homes. Additionally, doorbell cameras must be connected to a reliable power source to ensure that they are working properly.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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