Door Phone Market Size Worth $5.1 Billion by 2025 | CAGR: 5.7%: Grand View Research, Inc.

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10 Sep, 2019, 09:05 GMT

SAN FRANCISCO, Sept. 10, 2019 /PRNewswire/ -- 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.

Key suggestions from the report:

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.

Read 80 page research report with TOC on "Door Phone Market Size, Share & Trends Analysis Report By Product (Audio Door Phones, Video Door Phones), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/door-phone-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.

Asia Pacific is expected to expand at the highest CAGR of 7.6% over the forecast period. The market is driven by increasing number of construction activities in the residential sector. Moreover, growing concerns over safety and security of people who are living alone in their houses are driving this market. Commercial spaces are also installing these devices at various locations for giving advanced level of safety and security to the employees. Audio door phones accounted for the largest market share in 2018 owing to their increased usage in commercial spaces.

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.

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

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

Door Phone Regional Outlook (Revenue, USD Billion, 2015 - 2025)

North America

U.S.

Europe

Germany
France

Asia Pacific

China
India

Central & South America

Brazil

Middle East & Africa

South Africa

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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