Door Phone Market
The global door phone market is growing leaps and bounds. Rapidly improving connectivity and the rising demand for easy-to-integrate security systems that offer preps designs are a major trend in the door phone industry globally. Besides, the increasing integration of advanced door phones in smart homes is the prevalent trend among consumers, driving the growth of the market.
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Moreover, the wide uptake of door phones is the key driving force escalating the market on the global platform. According to Market Research Future (MRFR), the global door phone market is forecasted to perceive a valuation of USD 5.28 billion by 2023, growing at 7.85% CAGR during the assessment period (2018 – 2023). When it comes to security and surveillance systems, video door phones are considered crucial.
Industry players intend to set new benchmarks with their value for money accessory range. Technological advances and rising numbers of smart and connected homes and workplaces are fostering market growth. Over the past few years, investments in developing smart security systems are growing pervasively. Additionally, the rising demand for smart security doorbells that come with a motion sensor and cameras for video recording influence the growth of the market.
Global Door Phone Market – Segmentation
The door phone market analysis is segmented into type, connectivity, end-user, and regions.
The type segment is sub-segmented into audio and video. Of these, the audio door phone segment accounts for the largest market share, while the video door phone segment grows at a higher CAGR, mainly due to the increasing installation of video door phones in smart homes.
The connectivity segment is sub-segmented into wired door phones and wireless door phones. Of these, the wired door phone segment accounts for the largest market share, while the wireless door phone segment grows at a higher CAGR, witnessing rising adoption in residential and commercial settings. The end-user segment is sub-segmented into residential and commercial sectors.
Players leading the door phone market are Samsung (South Korea), Honeywell International Inc. (US), Svat Electronics (Canada), Nortek Security & Control (US), Jacques Technologies (Australia), Bosch Security System (US), Fermax (Spain), Aiphone (Japan), Legrand (France), Zicom (India), Commax (South Korea), MOX (Australia), Godrej (India), and Panasonic Corporation (Japan), among others.
Door Phone Market – Geographical Analysis
North America region dominates the global door phone market. The largest market share is attributes to the rising adoption of advanced security & surveillance systems. Besides, rising smart home projects create substantial market demand for video door phones. A high standard of living is another key factor driving the growth of door phones in the region.
Moreover, technological advancement and increased adoption in residential and commercial settings substantiate the market size. The US market accounts for the dominating market in the region. The North American door phone market is expected to witness fabulous market growth during the review period.
Europe is another lucrative market for door phones, holding a substantial market share. The increasing adoption of automated security systems in homes stimulates market growth in the region. Furthermore, the proliferation of smart devices along with the penetration of the internet increases the region’s market share.
Simultaneously, regulatory mandates introduced in the region coupled with the presence of a large untapped consumer base provide impetus to the market growth. The European door phone market is poised to witness huge growth over the assessment period.
The Asia-Pacific door phone market is witnessing a rapid expansion stage due to the growing markets in India, China, and Japan. The large presence of sensor manufacturing companies is a major driving force.
India and China are major door phone markets placing the region at the forefront of the competition globally. The APAC door phone market has been valued considerably and is estimated to grow further by the end of the forecasted period.
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Global Door Phone Market – Competitive Analysis
Fiercely competitive, the door phone market appears fragmented, with many large & small players forming a competitive landscape. Product launch, agreement & partnership, M&A, and expansion are strategic initiatives traced from recent market proceedings.
Industry/ Innovation/ Related News
February 25, 2021 --- Secureye (India), a leading global smart, intelligent security solution provider, launched a complete range of fiber and networking equipments and accessories. Secureye’s video door phone system & home security are known for their high efficiency and performance. With the launch of these products, the end consumers of different security and surveillance tools and equipments, such as CCTV cameras, face scanner wireless cameras, access control devices, and video door phones, would benefit hugely. Additionally, the company is also coming up with CATV equipments which will be used in cable TV operation and communication.
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