The global Door Phone 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 door phone market size is anticipated to reach USD 5.1 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 5.7% over the forecast period, 2019 to 2025. Nowadays, security is one of the major concerns among people at commercial and residential spaces. This device helps in controlling the access of unauthorized people and provides home security. This device is preferred by the management of large societies to provide security and intercom services, both. These factors are expected to drive the demand for this product over the forecast period.
Key Players:
- Airphone Corporation
- Panasonic Corporation
- Fermax Holding Investment SL
- 1byone, Inc.
- Honeywell International Inc.
- ABB Geway
- Legrand
- Axis Communications
- Guangdong Anjubao
- Urmet Group
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Growth Drivers:
This device is needed where the entry of a person has to be regulated such as at malls, stores, banks, offices, hotels, apartments, bungalows, villas, and other such places. Concept of smart home and home automation is gaining high popularity which thereby expected to boost the demand for security devices in coming years. Numbers of metropolitan cities across the globe are increasing rapidly. People from villages and small towns are migrating to these cities in search of employment. Therefore number of independent houses is decreasing rapidly with an increase in number of apartments and multistoried buildings due to lack of space. This factor has boosted the demand for security and surveillance devices across different regions. Wireless door phones provide security at multiple places such as at the society entrance, at the passage or lobby, and at the main door. In case of any emergency, the entry and exit can be controlled through a central unit. These features are expected to further boost the demand for these devices over the forecast period.
Rising incidences of theft and burglary across the globe are accelerating the demand for video door phones. A security alarm starts ringing immediately as soon as the device detects any unauthorized access. This feature is expected to drive the need for such devices at residential as well as commercial spaces from 2019 to 2025. Technical problem may occur sometimes, which causes the alarm to ring even when there is no incidence of theft or burglary happening. This may create trouble to the users. This factor is anticipated to adversely affect the growth of video door phones market during the forthcoming years.
Application Outlook:
- Residential
- Commercial
Product Outlook:
- Audio Door Phones
- Video Door Phones
Regional Outlook:
In 2018, North America is anticipated to be the largest market for door phone with market share of 35.4%. In developed nations such as Canada and U.S., there is high demand for safety and surveillance devices from the commercial segment. People in this region are highly reliable on these devices as they provide high level security and convenience for opening the door. Moreover, smart technology door phones are gaining high popularity among the consumers in this region. In addition, door phones with Wi-Fi and smart locking system are much popular among high level security agencies. These factors are expected to drive the growth of regional market over the forecast period.
Asia Pacific is projected to grow at the fastest CAGR of 7.6% from 2019 to 2025. The growth is attributed to rising number of residential buildings in emerging countries such as India and China. For instance, in India approximately 90% of the new residential buildings are installed with door phones or other security devices. Further, products with advance technology are rapidly replacing the traditional security services at large societies and multistoried buildings. This factor is anticipated to further drive the demand for door phones in the regional market.
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