Market Highlights
The global door phone market has been growing at a rapid pace; mainly due to the increasing adoption of home automation. The rising number of smart homes has led to an increase in security and surveillance system installations. Moreover, spreading awareness towards the physical safety+ and security has been escalating the market on the global platform.
Acknowledging the galore accruals, the market is garnering rapidly, Market Research Future (MRFR) in its recently published study report asserts that the global Door Phone Market would reach USD 5.28 BN by 2023, registering a CAGR over 7% throughout the forecast period (2018-2013). In the year 2017, the market had evaluated at USD 3.42 BN.
Additional factors that are predominantly contributing to the growth of the market include government initiatives and policies for home security solutions, smart city projects, and the substantial investments made into developing innovative solutions. Technological advancement alongside the increasing demand for useful and advance technology-based products are anticipated to boost the size of the door phone market.
Furthermore, increasing usages of IoT and the development of smart, cost-effective security systems are contributing to the growth of the door phone market. The growing number of installations of video door phones in the increasing number of smart home projects is a key driving force behind the growth of the market.
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Major Players:
Key players leading the global door phone market include Samsung (South Korea), Honeywell International Inc. (US), Svat Electronics (Canada), Nortek Security & Control (US), Jacques Technologies (Australia), Bosch Security System (US), Fermax (Spain), Aiphone (Japan), Panasonic Corporation (Japan), Legrand (France), Commax (South Korea), MOX (Australia), Godrej (India), and Zicom (India) among others.
Global Door Phone Market – Segments
For ease of understanding, the report has been segmented into four key dynamics:
By Type: Audio and Video.
By Connectivity: Wired Door Phone and Wireless Door Phone.
By End-user: Residential and Commercial among others.
By Regions: North America, Asia Pacific,Europe, and the Rest-of-the-World.
Global Door Phone Market – Regional Analysis
North American region, heading with its vast technological advancements and growing trend of home automation, would continue with its dominance over the global door phone market. Furthermore, factors such as the rapid adoption of advanced technologies, growth of home automation, and the presence of a number of notable players impact the growth of the regional market, positively.
The US, backed by its futuristic technologies, leads the door phone market in the region. Moreover, factors such as government initiatives against criminal activities drive the regional market. The door phone market in the European region accounts for the second-largest market, globally.
The market experiences a significant demand led by the high growth in smart city projects in various countries. Moreover, the European Innovation Partnership for Smart Cities and Communities (EIP SCC), which is aiming at the implementation of smart city projects in 300 cities is expected to boost the growth of the regional market.
The Asia Pacific door phone market has emerged as a promising market globally. Factors such as spreading awareness towards the physical safety and security, huge advancements in the related technology, and the presence of giant players like Panasonic, Commax, and Zicom drive the growth of the market. The region is expected to become a major hub for home automation, which will create lucrative opportunities for door phone market.
Furthermore, increasing application for connected technologies for security is expected to boost the demand in the door phone market in this region. The APAC region is expected to show positive growth during the forecast period. APAC countries like China, Japan, India, and South Korea have a fair share in the door phone market.
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Global Door Phone Market – Competitive Analysis
Characterized by the presence of many well-established players, the door phone appears to be highly fragmented and competitive. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, technology launch, and expansion to gain a competitive advantage and thus maintain their market position. Strategic partnerships support the growth and expansion plans of these key players.
On the product development and sales side, players are substantially investing in brand building and innovation/R&D while fostering strong relationships with customers to support their competitive position. These Manufactures strive to develop products with adept technologies, unrivaled design, and features. To tap the growing opportunity players from the developed regions are entering in the emerging markets of developing economies such as India/China.
Industry/ Innovation/Related News:
August 03, 2018 —- Panasonic Corporation (Japan), a multinational electronics company launched its new wireless video door phone in India. Dubbed as VL-SW 274, the new device comes with a host of features. VL-SW 274 video door phone is equipped with voice change function, which changes the user’s voice to make it sound similar to that of a grown man.
And, comes with a picture recording feature through which up to 50 door phone calls can be recorded with main and extension monitors. This futuristic video door phone with its advanced features such as voice modulation, night vision, and electric lock release, portrays Panasonic’s efforts to revolutionize the video door phone industry with the solution-based offering.
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