LONDON--(BUSINESS WIRE)--The global smart doorbell market is expected to grow at a CAGR of around 78% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global smart doorbell market for 2017-2021. The market is further categorized into two product segments, including stand-alone doorbells and integrated doorbells, of which the stand-alone segment accounted for close to 91% of the market share in 2016.
“Smart doorbells are one of the most affordable and easy-to-use smart home automation products. These doorbells allow users to attend to visitors at their doors using their smartphones. The increasing penetration of smart home and home automation technologies worldwide is driving the growth of the global smart doorbell market,” says Chetan Mohan, a lead embedded systems research expert from Technavio.
Technavio’s research analysts segment the global smart doorbell market into the following regions:
- Americas
- EMEA
- APAC
Smart doorbell market in Americas
The Americas is the largest market for smart doorbells worldwide, and it is likely to maintain its dominance in the global smart doorbell market during the forecast period. One of the major reasons for its dominance in the global smart doorbell market is that the region is home to the world's largest smart home market. The market is driven by the availability of low-cost devices, need for energy management solutions, and wireless DIY installations. The availability of affordable DIY smart home automation products is likely to make IoT a feasible option at home over the next few years. More than 55 million homes in the Americas are expected to be automated by 2019. This will create opportunities for smart doorbell manufacturers to improve the penetration of smart doorbells in the region.
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Smart doorbell market in EMEA
The smart doorbell market in EMEA is likely to witness significant growth during the forecast period. The market is driven by the availability of high-speed wireless networks and increased smartphone penetration. The growth of the smart doorbell market in the region can also be attributed to the steady growth of the smart home market in the region. In 2016, EMEA witnessed the development of smart cities, increasing government investments in the implementation of smart technologies, and M&As in the smart home ecosystem. This has led to the rising popularity of smart home technologies such as smart doorbells and smart locks in the region.
“The demand for smart doorbells from Europe is higher compared with the Middle East and Africa. This is largely because of the high consumer awareness about home automation technologies in the region,” says Chetan.
Smart doorbell market in APAC
The smart doorbell market in APAC is likely to grow at a CAGR of around 84% during the forecast period. Despite its low revenue share in the global market in 2016, the smart doorbell market in APAC is likely to witness the fastest growth during the forecast period. The growth of economies such as India, Japan, and Indonesia is leading to the high annual disposable income of households in these countries. This has resulted in the increased consumer spending on advanced technologies such as smart home components and devices.
The growing real estate sector also has a significant impact on the smart home market in APAC, which in turn, boosts the demand for smart home components such as smart doorbells. New home buyers are focusing on adding elements of smart homes to their residences at an additional cost.
The top vendors in the global smart doorbell market as highlighted in this market research analysis are:
- August Home
- dbell
- Ding
- Ring
- Skybell
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