Doorbell Camera Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2025
“The global doorbell camera market size was accounted for USD 1.4 billion, in 2018 and is projected to grow at the CAGR of 10.3% over the forecast period, 2019 to 2025.”
The global Doorbell Camera Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global doorbell camera market size is estimated to reach USD 2.8 billion, by the end of 2025, and is projected to grow at a CAGR of 10.3% from 2019 to 2025, according to a new report released by Milli on Insights. Increasing crime rate and rising concerns regarding safety and security of family are the key factors contributing to market growth. Key Players:
August Home AUXTRON Hangzhou Hikvision Digital Technology Co. Ltd. IFIHomes Napco Security Technology., Inc. Ring SkyBell Technologies, Inc. Vivint, Inc. Vtech Communications, Inc. Zmodo
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Growth Drivers: Furthermore, the growing rate of crime across the globe is one of the major security concerns. According to FBI statistics, the violent crime rate in 2017 was over 382 offenses among 1000 inhabitants. Violent crime includes murder, manslaughter, rape, and robbery cases. Additionally, crime against property was around 2362 offenses among 100000 inhabitants. It includes vehicle theft, burglary, and larceny-theft. In the European Union (EU), over 5,200 homicide cases were registered in 2016. All these concerns have influenced the people to look after their safety and security. The increasing trend of smart homes is anticipated to boost market growth over the next few years. Availability of high-speed internet in remote areas is also allowing a consumer to have access to their amenities, which is projected to increase the demand for the product. Product Outlook:
Wired Wireless
The wireless segment is anticipated to grow at the highest CAGR of 10.6% over the forecast period. Nowadays, it is not allowed to do wiring and drilling after the completion of construction work of modern houses. Thus, these structures need a wireless security system to keep track of the home. Wireless cameras are easy to install and can be fitted on any type of wall. Moreover, advent features such as motion detection, smart alerts on devices are expected to foster market growth. Distribution Channel Outlook:
Offline Online
Regional Insights: In 2018, North America held the largest market share of over 30% in the overall market. The growth is majorly attributed to rising awareness about security concerns across countries such as U.S. and Canada. Additionally, police authorities are also insisting consumers install video cameras to eradicate criminal incidents and cases. Asia Pacific is anticipated to grow at the CAGR of 11.3% during the forecasted period. Increasing crime rates across countries such as Pakistan, South Korea, Iran, Afghanistan, China, and India is expected to propel the demand for the product. In addition, manufacturers in China provide these products at a cheaper rate, which in turn is boosting the market growth. Impact of COVID-19 Insights The COVID-19 pandemic has negatively impacted the global doorbell camera market. The coronavirus crisis has hit the physical security industry with major industrial factories that had been close down. Large enterprises are installing doorbell cameras for screening visitors and avoiding delivery waits. In addition, the rising security threat concerns such as the catching of criminals or intruders are projected to positively impact the market for doorbell cameras. However, the supply chain disruption in electronic components especially from China is hampering the market growth. In addition, technological advancement including remote access controls, video surveillance solutions is expected to boost the demand for doorbell cameras. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
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