Video Doorbell Market: Introduction
Penetration of internet and transition towards digitalization have led to the introduction of various enhanced home consumer electronic devices such as DIY smart security solution, video intercoms, keyless entry systems and video doorbells.
A video doorbell is a device that enables the end-user to monitor who is at the door of his/her residence, on a screen of the system or on a smartphone/tablet, etc. (i.e. remotely). The product is comparatively new in the market which, therefore, offers an opportunity to various small and medium sized vendors to strengthen their presence in the market.
Various video doorbell vendors, for instance, are signing agreements with established players with an intention of expanding their business in the market. In February 2018, Amazon acquired Ring, a video doorbell manufacturer. Ring, with the help of this agreement, aims at increasing the sales of its video doorbells globally.
Video Doorbells are comparatively new in the market but are expected to witness a boom in the future, especially in developing countries such as India and China.
Video Doorbell Market: Dynamics
A continuous demand for smart homes, smart appliances, etc. across developed and developing countries such as the U.S., China, India, Germany, Japan, and the U.K. has been witnessed. Factors such as enhanced security, remote accessibility, increased penetration of internet and demand for connected devices have furthermore proliferated the demand for this market. Accessibility of integrating various smart devices and enabling remote accessibility (from a smartphone/ tablet from distance) to offer enhanced security across various industry verticals is also a major driver for the video doorbell market.
However, issues such as network connectivity or network fluctuations hinder the efficient processing of the product and in turn hamper the growth of the video doorbell market. In context to this, lack of infrastructural development in developing countries (such as North African countries) also restraints the overall growth of the market.
One of the recent trends witnessed in the video doorbell market is increasing adoption of smart video doorbells (i.e. wireless connected video doorbells). Additionally, technological innovations have led to the integration of video doorbell systems with Alexa, Siri, etc. to enable the voice feature as well.
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Video Doorbell Market: Segmentation
The global video doorbell market can be segmented on the basis of product type, end-user, and sales channel.
On the basis of product type, the video doorbell market can be segmented as:
Standalone/Wireless Video Doorbells
Wired Video Doorbells
Standalone/Wireless video doorbells held a major share of the market in 2017 and the segment is expected to exhibit a higher growth rate during the forecast period as well.
On the basis of end-user, the video doorbell market can be segmented as:
On the basis of sales channel, the video doorbell market can be segmented as:
Attributing to the increasing penetration of internet and the trend witnessed in the adoption of smart home products, the e-commerce/online retailers segment is expected to account for a majority of sales in 2017. Furthermore, a higher preference for the same segment is expected during the forecast period.
Video Doorbell Market: Key Players
Some of the key players in the video doorbell market are August Home, Ring, dbell Inc., blink, Nest Labs, SkyBell Technologies, Inc., Olive & Dove (remo), Zmodo and smanos.
Of the above players, Ring, August Home and Nest Labs are expected to be the major revenue generating players in the video doorbell market.
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Video Doorbell Market: Regional Overview
By geography, the video doorbell market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in Asia Pacific, and Middle East & Africa. Among these regions, North America is expected to dominate the global video doorbell market during the forecast period, owing to the presence of a high number of vendors and the high penetration of smart homes in the region. The U.S. is expected to hold a major share in North America video doorbell market, owing to the high demand for video doorbells from the residential industry to counter the increasing thefts and crime rates (across the same industry vertical). Europe is expected to follow North America in terms of revenue, while Asia Pacific (especially China and India) is expected to exhibit the highest growth rate owing to the increasing penetration of internet and the high demand for smart home appliances in the region.