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.
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 Door Phone Market is forecasted to perceive a valuation of USD 5.28 billion by 2023, growing at7.85% 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 the 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.
The key players in the Door Phone Market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Honeywell International Inc. (US), Samsung (South Korea), Svat Electronics (Canada), Jacques Technologies (Australia), Nortek Security & Control (US), Bosch Security System (US), Aiphone (Japan), Fermax (Spain), Legrand (France), and Panasonic Corporation (Japan), These players contribute a major share in the growth of door phone market.
Apart from the top key players, there are other players that contribute to the market growth. These include Commax. (South Korea), Zicom (India), MOX (Australia), Godrej (India), and others.
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By type, the market is segmented into audio and video. Audio door phone segment contributes to the largest share in the door phone market while video door phone is expected to grow at the highest CAGR during the forecast period. This is majorly due to increasing installation of video door phones in smart homes.
By connectivity, the market is segmented into wired door phone and wireless door phone. Wired door phone segment is expected to contribute to a larger share of revenue whereas wireless door phone will grow at significant CAGR during the forecast period. By end-user, the market is segmented into residential, commercial and others.
The global market for door phone is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of door phone market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America is expected to dominate the door phone market. In the North America region, US will continue to dominate the market owing to several factors. This includes rapid adoption of advanced technologies, growth of home automation, and a number of vedors based in this region.
Europe, which is experiencing high growth in smart city projects in various countries, is the second largest door phone market. European Innovation Partnership for Smart Cities and Communities (EIP SCC) has aimed to implement smart city projects in 300 cities. The growth in smart city projects is expected to create immense opportunities for door phone market.
Asia-Pacific region is expected to grow at a significant CAGR during the forecast period. Asia-Pacific is expected to become major hub for home automation. This will create lucrative opportunities for door phone market. Also, growing application for connected technologies for security will boost the demand for door phone market in this region.
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