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IHS expects that more units will be integrated in home alarm systems soon.
IHS Markit predicts a 28 percent CAGR for the global video doorbell market in the next half decade.
Market value is expected to rise from $78 million in 2015. According to Jim Dearing, Access Control & Fire Analyst at IHS, video doorbells can encourage homeowners to add more IP cameras, and will be integrated more in DIY home alarm systems first before other alarm kit types. Reason for the latter is that many buyers of video doorbells, having the tech know-hows, also tend to prefer DIY systems. Improved video verification features are also said to affect the trend.
Dearing writes, however, that there are challenges for the industry. Video doorbells are still adopted mostly by residential buyers the US and releases from large manufacturers still dominate supply even if there are new competitors. In addition, price is said to be a reason for slow adoption, for many video doorbells in the market are quite expensive, but boosting awareness on these products will attract more buyers.
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