The smart doorbell market size is poised to grow by USD 1.19 billion during 2020-2024, progressing at a CAGR of over 25% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Smart Doorbell Market 2020-2024 (Graphic: Business Wire)
The demand for smart locks is on the rise because of the benefits such as flexibility and high security, easy installation, remote locking and unlocking, and instant alerts to homeowners. The rise in cases of burglary in recent years has contributed to the demand for smart locks. Most of the customers prefer to install smart locks along with smart doorbells. This is one of the key factors driving the growth of the smart doorbells market. The entry of new players in the market has also resulted in new product launches with different applications at a much lower cost. The preference of buyers has induced vendors to offer smart locks with highly compatible smart doorbells, which will further contribute to market growth.
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North America was the largest smart doorbell market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The US and Canada are the key markets for smart doorbells in North America. Market growth in this region will be faster than the growth
Gadget maker Wyze, best known for its series of low-cost security cameras, is expanding further beyond its core product line to include new devices in the audio and smart home markets. The company is announcing three new products today: a pair of over-the-ear noise-canceling headphones, a video doorbell, and a smart thermostat. Those join the company’s cameras, fitness band, and smart versions of various household appliances like a lock, lightbulb, and wall plug.
Much like how China-based gadget maker Anker used its USB charging line as a springboard into the broader consumer electronics business, Wyze is using its cameras and its extremely low prices as a way to fashion an entire family of branded products that now extend beyond just the smart home market.
And the prices for at least one of its new products are indeed competitive. The new Wyze Video Doorbell costs $29.99 and is available for preorder starting today, while the company’s new headphones and thermostat will go up for preorder on September 29th and October 6th. Wyze isn’t publicly disclosing pricing for those last two products until preorders go live, but it’s safe to say they’ll be priced quite a bit below most of the competition, as is Wyze’s consistent approach.
Wyze says its video doorbell requires a hardwired connection and it comes with 1080p video recording, night vision, IP65 weather resistance, and two-way audio. It also comes with the same set of cloud capabilities as its cameras, including full-length motion recording and person detection with a Cam Plus add-on subscription service as well as free cloud storage on a two-week rolling basis.
The doorbell also comes with Wyze’s custom wireless chime and all of the materials required for mounting, and the system supports multiple chimes in the event you want to play more