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Door Phone Market To Grow Enormously with Size Worth $5.1 Billion By 2025 |Grand View Research, Inc.

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Door Phone Market To Grow Enormously with Size Worth $5.1 Billion By 2025 |Grand View Research, Inc.

April 04
10:28 2020
Door Phone Market To Grow Enormously with Size Worth $5.1 Billion By 2025 |Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global door phone market size was valued at USD 3.4 billion in the year 2018 and market is estimated to expand at a CAGR of 5.7% for the forecast period. Growing safety concerns in the residential and commercial spaces due to the access of unauthorized persons is raising the demand for safety devices such as door phone.

The global door phone market size is expected to reach USD 5.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.7% over the forecast period. The market is driven by consumer spending on security and safety products for home, along with rise in demand from the multi storage residential buildings. Moreover, cost of keeping manual security at every place in a premise is much costlier as compared to the automated security devices, thereby resulting in increased sale of door phones in the market.

The market is driven by increasing number of smart and automated homes in Asia Pacific, along with availability of cost effective products from various regional manufacturers. It can also be integrated with the central security system of the building, thereby making home monitoring easier and safer. These products are highly demanding for physically handicapped and old people in the house for whom every time when the bell rings, running down from the top floor is a big pain. The invention of high-end video door phones is substantially getting more popular in the market. It provides live conversation with the person without even opening of main door.    

Adoption of smart technology and smart control of devices with the help of smart phones is also one of the major reasons behind growing need for automated home security system. Door phones connected with smart phones have special feature, which allows user to control the access of visitors even if when they are not in home. Moreover, advancements in door phones including addition of security alarms, quick access through biometric sensors, and smart control provide a growth opportunity for the market.

Various strategic initiatives such as new product launches, expansion, and mergers and acquisitions are taken by the key players in order to increase the brand presence in the market. Some of the key players in the business are Aiphone Corporation; Panasonic Corporation; Fermax Holding Investment SL; 1byone, Inc.; Honeywell International Inc.; ABB Genway; and Legrand. For instance, in August 2018, Panasonic Corporation launched a wireless video door phone, along with a voice change function.

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Demand for such systems can be seen in apartments, villas, bungalows, stores, offices, hotels, banks, and other places. Need for such system can be seen when a person has to regulate the entry of a person in their premises. Growing demand for home automation and smart appliances is driving the need for safety appliances in the market. Adoption of smart technologies has provided enough space in controlling of devices through their smart phones and tablets. One can easily connect their door phone with their smart phone and control the opening and closing of their door even from the far places. This makes the life easier for people who are dependent on maid for their child upbringing at home or whose relatives and friends wants to enter in their absence. This kind of advanced level video phones are certainly in more demand among major western countries.  

Further key findings from the report suggest:

  • By product, video door phones are projected to ascend at the fastest CAGR of 6.5% over the forecast period
  • The residential application segment dominated the global market with an overall share of 72.2% in 2018
  • North America dominated the global market in 2018, accounting for 35.4% share of the overall revenue. This trend is projected to continue over the next few years
  • Various manufacturers are concentrating on new product launches, marketing campaigns, and technological innovation to estimate existing and future demand patterns from upcoming product segments.

Increasing number of smart cities in various countries is driving the demand for safety and surveillance products in the market. Moreover, rapid urbanization is shifting many people to live in multistoried apartment due to space constraint. This, in turn, drives the need for robust security system. The wireless feature of door phones can give multilevel security from society entrance to lobby and main door entrance. The user can easily connect with the central security system in case of any incident, thereby driving the global market. In addition, rise in the number of construction activities in the residential and commercial sectors increases the demand for such products in the market.

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As per the report published by the University of North Carolina, about half of the burglars reported engaging in at least one residential burglary and about a third reported engaging in at least one commercial burglary in U.S. Moreover, about 60% of the burglars indicated that presence of alarm sometimes stops them for unauthorized entry. The above-mentioned factors are driving the need for video door phones, which are directly connected with the security alarm system. Sometimes, the false ringing of the alarm due to some technical issue may create trouble for the users, thereby restricting the growth of network video phones in the market.

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Audio door phones accounted for the largest share of 54.9% in the year 2018. This kind of phones are mostly preferred in commercial space such as offices, ticket counter, and banks. At such places, normally glass doors and windows are there, which allow the user to physically see the person and hence normal audio instrument suffice the need.

Video door phone is the fastest growing segment, expanding at the fastest CAGR of 6.5% from the year 2019 to 2025. Demand for such products can be mostly seen in new large multi occupancy buildings. These buildings require some safe measures of entry for visitors and hence video door phones are mostly in use. Apart from that, network video phones are trending faster owing to their feature of getting connected to the central security room providing high level safety to resident. Moreover, local government policies, development of infrastructure, and technological advancements in many countries are equally important in influencing the door phone market growth.

Access complete  Door Phone Report Portfolio By Grand View research, Inc.

The residential sector was the largest application segment with a revenue of USD 2.5 billion in the year 2018. Door phones for homes are high in demand as the personal and family safety is a prime concern for a customer. Moreover, rising number of residential constructions is anticipated to boost the sales of the product over the forecast period. The product is very helpful in providing security if there are senior citizens and children at home. Moreover, easy installation techniques and recording feature of the product in case of theft at home are boosting the sales in the industry.    

The commercial sector is expected to be the fastest growing segment, expanding at a CAGR of 7.2% from 2019 to 2025. The segment is driven by rise in demand for high level of security needed at many industries and private offices. Increasing number of terrorist attacks in various hotels and commercial places is driving the need for safety instruments.  In addition, door phones with biometric access feature allows the entry of only authorized personal in the premises. Some other added features such as face recognition, video recording, and artificial intelligence are driving the demand for advanced level phones in the market.  

North America held the largest share of 35.4% in the year 2018 on account of rising adoption of the security devices by the commercial sector in countries such as U.S. and Canada. Rise in demand for convenient products for door opening is also a key factor driving the market in this region. Moreover, door phones provided with a smart technology has been gaining traction among the consumers in North America. Advancements in door phones such as a smart locking system and Wi-Fi enabled system are adopted by the high security personnel and large industrial areas in the market.

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Rising demand for the door phones in countries such as China, India, and Brazil leads to an increase in product innovations and market developments. The market is identified by several strategic initiatives such as research and development, marketing campaigns, and new product launches. Key manufacturers in the industry include Aiphone Corporation; Panasonic Corporation; Fermax Holding Investment SL; 1byone, Inc.; Honeywell International Inc.; ABB Genway; and Legrand. For instance, in August 2018, Panasonic launched a new video door phone in the market, which had a voice change function, along with picture recording feature. More than 300 to 400 leading and regional level players are present in the market, thereby giving a tough competition to the new entrants in the market.

Grand View Research has segmented the global door phone market on the basis of product, application:

Door Phone Product Outlook (Revenue, USD Billion, 2015 – 2025)

  • Audio Door Phones
  • Video Door Phones

Door Phone Application Outlook (Revenue, USD Billion, 2015 – 2025)

  • Commercial
  • Residential

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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