Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global 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.
Increase in adoption of intent of things (IoT) and artificial intelligence (AI) in the doorbell systems drives the global smart doorbell market. However, concerns regarding safety and security among population supplement the market growth. However, lack of availability of internet connectivity and high capital cost hinder the market growth. On the contrary, increase in initiatives undertaken by authorities and government would unlock lucrative opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the market due to halt in construction activities across the globe and dearth of penetration of smart doorbells in commercial and residential spaces.
- However, the disruption of supply chain and challenges in procurement of electronic components hampered the market growth.
The report segments the global smart doorbell market on the basis of product type, distribution channel, end user, and region.
Based on 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 projected to manifest the highest CAGR of 17.5% from 2021 to 2030.
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On the basis of 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 to more than three-fourths 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 largest share in 2020, accounting for around two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 18.0% during the forecast period.
The global smart doorbell market includes an in-depth analysis of the prime 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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Leading players of the global smart harvest 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 enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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