Video Doorbell Market Expected to Reach $4.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Video Doorbell Market," The video doorbell market size was valued at $1.2 billion in 2021, and is estimated to reach $4.6 billion by 2031, growing at a CAGR of 14.3% from 2022 to 2031.

A video doorbell is a doorbell connected to a camera. This allows to see who is at the door by using your smartphone, tablet, or other connected devices. It has 1080 full HD camera and an advanced built-in intruder alarm. It has various types of features such as microphone, motion detection, top-to-toe video, and voice assistant compatibility.

Increase in concerns about thefts and burglary have led people to use video doorbells. In addition, factors such as rise in investments in R&D activities by key market players to develop more advanced products is expected to boost the video doorbell market growth. Moreover, adoption of internet of things (IoT) and artificial intelligence (AI) in doorbell systems is on the rise, which is likely to boost the growth of the video doorbell market. Furthermore, people are becoming aware of video doorbells as suitable options for safety and security needs, which is expected to expand the growth of the video doorbell market. Rise in penetration of the internet, along with the desire for convenience of controlling most amenities with just one click of the button is expected to promote the sales of video doorbells.

However, lack of availability of internet connectivity and high capital costs is likely to hamper the growth of the video doorbell market. Conversely, technological innovations in the video doorbell systems are anticipated to provide lucrative opportunities for the growth of the video doorbell market.

Major players have adopted product launch and acquisition as key strategies to sustain the competition and improve product portfolio. For instance, in October 2021, Wyze launched Video Doorbell Pro, an upgraded ultra-wide resolution that allows its users to see a wider area of their porch as well as comes with wire-free installation. This launch is likely to add enrichment to its product line. Such launches are anticipated to expand the video doorbell market.

North America accounted for the largest share of the global video doorbell market share, in terms of revenue in 2021, owing to the rise in urbanization and growth of construction sector.

However, during the COVID-19 pandemic, various manufacturers in the video doorbell market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of video doorbell companies. In addition, lack of manpower and raw materials constricted supply of equipment of video doorbells, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of video doorbell companies.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global video doorbell market trends and dynamics. 
• By product type, the wireless segment has dominated the video doorbell market, in terms of revenue in 2021 while the wired system is projected to grow at a significant CAGR during the forecast period.
• By end user, the residential segment has registered highest revenue in 2021.
• By region, North America is projected to register highest growth rate in the coming years.
• Key players within the global video doorbell market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the video doorbell industry.
• The video doorbell market forecast analysis from 2022 to 2031 is included in the report.
• In-depth global video doorbell market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.