SecurityWorldMarket

12/09/2019

Residential sector drives door phone market growth

San Francisco, Ca (USA)

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 storey residential buildings. Moreover, cost of keeping manual security at every place in a premise is much costlier when compared to automated security devices, thereby resulting in increased sale of door phones in the market.

The researchers found that the market is driven by an 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 in high demand for physically handicapped and older people at home when physically attending the door can be difficult. The invention of high-end video door phones is becoming substantially more popular and it can also provide live conversation with the person without even opening the main door.

The adoption of smart technology and smart control of devices with the help of smart phones is also one of the major reasons behind the growing need for automated home security systems. Door phones connected with smart phones have special features, which allow users to control visitor access even when they are not at home. Additionally, the advancements in door phones including the addition of security alarms, quick access through biometric sensors, and smart control all provide growth opportunities for the market.

Geographically, the Asia Pacific region is expected to expand at the highest CAGR of 7.6% over the forecast period. The market is driven by an increasing number of construction activities in the residential sector. Moreover, growing concerns over safety and security of people living alone in their houses are driving this market. Commercial spaces are also installing these devices at various locations to provide an advanced level of safety and security to 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; Panasonic; Fermax; 1byone; Honeywell; ABB; and Legrand.


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