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.
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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.
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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