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Video Doorbell Market to Garner $4.6 Bn, Globally, by 2031 at 14.3% CAGR: Allied Market Research
Rise in awareness about security of residential and commercial building and increase in demand for smart homes with intelligent security systems have boosted he growth of the global video doorbell market. However, dearth of availability of internet connectivity and high capital cost hinder the market growth. On the other hand, innovations in technology in video doorbell system is projected to open new opportunities in the future.
By product type, the wireless segment held the largest share in 2021, accounting for nearly three-fourths of the global video doorbell market, and is estimated to dominate the market throughout the forecast period. This is due to increase in concern for safety and security of homes. However, the wired segment is expected to register the highest CAGR of 14.8% during the forecast period, owing to growth in rapid urbanization and building automation globally.
By application, the outdoor segment is expected to register the highest CAGR of 14.6% during the forecast period. In addition, the segment held the largest share in 2021, contributing to more than two-thirds of the global video doorbell market, and is projected to continue its dominance during the forecast period. This is due to rise in need for home automation.
By end user, the residential segment dominated the market in 2021, accounting for nearly three-fourths of the global video doorbell market, and is expected to continue its dominance from 2022 to 2031. This is due to rise in security & safety concerns and increase in demand for smart home security systems. However, the non-residential segment is estimated to showcase the highest CAGR of 15.4% during the forecast period, owing to increase in concern about safety and security and rise in comfort level in the non-residential sector.
By region, the market across North America dominated the market in 2021, holding nearly two-fifths of the global video doorbell market, and is expected to dominate in terms of revenue during the forecast period. In addition, the region is expected to register the highest CAGR of 16.5% during the forecast period. This is due to rise in investment in infrastructure and construction activities as well as investments in infrastructure by the government. The report includes analysis of the market across Europe , Asia-Pacific , and LAMEA.
The report analyzes these key players of the global video doorbell market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.
Smart doorbell market is projected to reach $12.3 billion by 2030 | at a CAGR of 17.2%
Home automation market is expected to reach $239,897.8 million by 2030
Home improvement services market is expected to reach $585.3 billion by 2030 | CAGR of 6.2%
Construction Equipment Market is projected to reach $322.0 billion by 2031 | At a CAGR of 4.8%
Home remodeling market is projected to reach $1,317.50 billion by 2030
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