door phone market was USD 3.42 billion in 2017 and is expected to reach USD 5.28 billion by the end of forecast period with a CAGR of 7.85%.
$5.28 billion
7.85%
North America
2020-2027
Door Phone Market Overview
The door phone market was valued at USD 3.42 billion in 2017 and is expected to reach USD 5.28 billion by the end of forecast period with a CAGR of 7.85%.
The term "door phone" refers to a collection of electronic and electrical components located at the entrance door of various infrastructures. Door phones, as a result, allow for two-way communication from outside the infrastructure while adhering to secure communication protocols. By electronically locking and unlocking the main door, door phones help to provide a higher level of security by allowing access to individuals in and out of the infrastructure (such as offices, apartments, and block buildings). This device has undergone a metamorphosis as a result of technical breakthroughs. It now also allows for video contact between infrastructure residents and those attempting to get access.
Covid 19 Analysis
As workers stayed at home, global manufacturers struggled to incorporate modern video door phones, causing supply lines to be disrupted. The impact of COVID-19 on the market prediction for video door phones is very temporary, as only the production and supply chain are halted. Production, supply chains, and demand for video door phones will steadily improve as the situation improves. This COVID-19 shutdown would encourage businesses to consider more advanced video door phones in order to improve productivity.
Door Phone Market Dynamics
Drivers
The increasing popularity of smart homes and home automation is expected to stimulate demand for wireless door phones. Door phones are important safety equipment used in large multi-occupancy buildings and business complexes because they offer audio and video communication. People are moving into huge residential structures as a result of rapid urbanisation, where security and monitoring systems are a crucial concern. Wireless door phones are being used in a number of commercial and residential buildings to improve security. As a result, the door phone market will be driven by technology improvements and smart home adoption.
Opportunities
Wireless door phones have been developed as a result of technological improvements in security systems. The door phone market is predicted to increase as a result of this aspect. Furthermore, firms are working on door phone advancements, which is predicted to have a beneficial impact on the door phone market. Smart phones can now be connected to wireless door phones, allowing them to control the opening and closing of these doors from afar. Wireless door phones will also become more popular as smart city efforts and the number of multistorey apartments rise.
Restraints
According to a survey published by the University of North Carolina, almost half of all burglars in the United States admitted to committing at least one home burglary and a third admitted to doing at least one commercial burglary. Furthermore, almost 60% of burglars stated that the presence of an alarm system occasionally deters them from committing unauthorised entry. The causes listed above are increasing the demand for video door phones that are directly linked to the security alarm system. Users may experience false alarm ringing as a result of technological challenges, limiting the door phone market expansion of network video phones.
Challenges
On the other hand, the long-term expansion of the door phone market would be hampered by uncertain global economic conditions and the sensitivity of currency exchange rates. The door phone market growth will be slowed further by high installation and maintenance costs, as well as alarm system failure owing to technical issues. The increasing availability of alternative technologies such as smart doorbells may slow the door phone market development rate once again.
Cumulative Growth Analysis
In 2017, the worldwide door phone market was worth USD 3.4 billion, and the door phone market is expected to grow at a CAGR of 7.85 percent over the projected period. The increased demand for safety devices such as door phones is being driven by growing safety concerns in residential and business settings due to unwanted access. When combined with an access control system, it not only improves home security but also provides a lot of convenience.
Value Chain Analysis
The need for safety and surveillance solutions in the door phone market is being driven by the growing number of smart cities in various countries. Furthermore, due to space constraints, many individuals are being forced to live in multistorey apartments as a result of rapid urbanisation. As a result, a strong security system is required. Door phones with wireless capabilities can provide layered security from the society entrance to the lobby and main door entrance.
Segment Overview
The global Door Phone market is divided into 2 different segments as by type and by the application. Here the largest market share and sub-segments are given below.
By Product
In the year 2018, audio door phones had the highest share (54.9%). Commercial spaces, such as offices, ticket counters, and banks, are more likely to use these kinds of phones. Glass doors and windows are usually present in such locations, allowing the user to view the individual physically, and so standard audio instruments are sufficient. From 2019 through 2025, the fastest-growing segment is video door phones, which will rise at a CAGR of 6.5 percent. New huge multi-occupancy buildings are seeing a surge in demand for such products.
By Application
With a revenue of USD 2.5 billion in 2018, the residential sector was the most lucrative application segment. Personal and family safety is a top priority for customers, hence door phones for houses are in high demand. Furthermore, over the projection period, an increase in the number of residential developments is expected to improve product sales. If there are senior persons and children at home, the device is really useful in providing security.
Regional Analysis
North America held the biggest share of 35.4 percent in 2018, because of the increased use of security devices by the commercial sector in countries like the United States and Canada. The rising need for convenient door opening products is also propelling the market in this area. Furthermore, smart door phones have been gaining popularity among consumers in North America.
Over the projection period, Asia Pacific is expected to grow at the fastest rate of 7.6%. The industry is being pushed by an increase in the number of residential development projects. In India, the real estate sector is rapidly expanding, and around 90% of newly constructed buildings include some form of door phone. As a result, it is in high demand in these countries.
Competitive Landscape
Several strategic activities, such as research and development, marketing campaigns, and new product launches, are used to identify the door phone market. Aiphone Corporation, Panasonic Corporation, Fermax Holding Investment SL, 1byone, Inc., Honeywell International Inc., ABB Genway, and Legrand are among the leading producers in the business. For example, Panasonic released a new video door phone in August 2018 that had a voice changing option as well as an image recording feature.
List of Competitive Companies
Recent Developments
Report Overview
This report provides all the information about the growth of the global Door Phone market in the forecast period. There are different sections available that help to get in-depth information such as opportunities, challenges, drivers, COVID 19 analysis, regional analysis, competitive landscape, and others. All of the information is gathered from primary and secondary sources to provide the expected market growth of Door Phone by 2023.
By Geographically:
Report Attribute/Metric | Details |
---|---|
Market Size | USD 5.28 Billion |
CAGR | 7.85% |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Connectivity, End-User |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | 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) |
Key Market Opportunities | Increasing number of smart cities projects globally. |
Key Market Drivers |
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The global market for door phone is going to expand at a CAGR of 7.85% and would be gaining USD 5.28 billion valuation in the future.
The global market for door phone gained USD 3.42 billion in 2017.
Increasing adoption of home automation and intensifying number of smart homes has led to the rise in security and surveillance system installations, thus affected global market for door phone.
North America, Europe, Asia-Pacific, and the rest of the world are the key regions chosen for practicing research for the market’s growth.
Asia-Pacific has become foremost hub for home automation which has formed lucrative opportunities for door phone market. Also, the mounting application for connected technologies for security also boost the demand for door phone market strongly.