Door Phone Market Insights:
The Door Phone Market was valued at USD 3.42 billion in 2017 and is anticipated to grow at a CAGR of 7.85% to reach USD 5.28 billion by the end of the forecast period.
A group of electrical and electronic parts that are situated at the front door of various infrastructures are collectively referred to as "door phones." Door phones, as a result, support secure communication protocols while enabling two-way conversation from outside the system. Door phones assist in enhancing security by electronically locking and unlocking the main door, enabling people to enter and exit the facility (such as offices, apartments, and block buildings). Thanks to technological advancements, this equipment has changed. Additionally, it now enables video communication between users of the infrastructure and those seeking to get access.
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Demand for wireless door phones is anticipated to increase as smart homes and home automation become more and more popular. Because they provide audio and visual communication, door phones are essential safety equipment found in big multi-occupancy buildings and commercial complexes. Rapid urbanisation has resulted in people moving into enormous residential buildings, where security and monitoring systems are a major concern. As a consequence, adoption of smart homes and technological advancements will boost the door phone industry.
Door Phone Market 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)
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Door Phone Market Regional analysis:
Due to the rising usage of security devices by the business sector in nations like the United States and Canada, North America had the largest share (35.4%) in 2018. The Door Phone Market in this sector is also being driven by the growing need for devices that make opening doors easy. Additionally, smart door phones are becoming more and more well-liked among North American consumers.
Asia Pacific is anticipated to develop at the quickest pace throughout the projected period, 7.6%. A growth in the number of residential construction projects is driving the sector. In India, where the real estate industry is growing quickly, 90% of newly built buildings have some kind of door phone. As a result, it is highly sought for in these nations. The worldwide door phone market is segmented into two groups based on type and application. Below are listed the market segments with the biggest Door Phone Market share.
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Door Phone Market Segmentation:
Using Product
The biggest percentage of audio door phones (54.9%) was in the year 2018. These phones are more frequently used in commercial settings including offices, ticket windows, and banks. Standard acoustic instruments are adequate in these settings since glass doors and windows typically exist, allowing the user to see the person in person. Video door phones will have the highest growth between 2019 and 2025, with a CAGR of 6.5 percent. A rise in demand for such items is being observed in new, enormous multi-occupancy buildings.
Using Application
The most profitable application segment in 2018 was the residential one, with revenues of USD 2.5 billion. Customers place a great value on their own and their families' safety, which explains why door phones for residences are so popular. Additionally, it is anticipated that an increase in residential construction throughout the projected period will boost product sales. The device is particularly helpful in ensuring security if there are elderly people and youngsters living in the house.
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