Door Phone Market size was accounted for USD 3.4 billion, in 2018. It is estimated to grow at a CAGR of 5.7% during the forecast period, 2019 to 2025. Nowadays, security is one of the major concerns among people at commercial and residential spaces. This device helps in controlling the access of unauthorized people and provides home security. This device is preferred by the management of large societies to provide security and intercom services, both. These factors are expected to drive the demand for this product over the forecast period.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/global-door-phone-market/request-sample
The key driving factors responsible for the growth of Door Phone
market :
Numbers of metropolitan cities
across the globe are increasing rapidly. People from villages and small towns
are migrating to these cities in search of employment. Therefore number of
independent houses is decreasing rapidly with an increase in number of apartments
and multistoried buildings due to lack of space. This factor has boosted the
demand for security and surveillance devices across different regions. Wireless
door phones provide security at multiple places such as at the society
entrance, at the passage or lobby, and at the main door. In case of any
emergency, the entry and exit can be controlled through a central unit. These
features are expected to further boost the demand for these devices over the
forecast period.
Rising incidences of theft and
burglary across the globe are accelerating the demand for video door phones. A
security alarm starts ringing immediately as soon as the device detects any
unauthorized access. This feature is expected to drive the need for such
devices at residential as well as commercial spaces from 2019 to 2025.
Technical problem may occur sometimes, which causes the alarm to ring even when
there is no incidence of theft or burglary happening. This may create trouble
to the users. This factor is anticipated to adversely affect the growth of
video door phones market during the forthcoming years.
Product Insights
On the basis of product, the door
phone market is further divided into audio door phones and video door phones.
In 2018, the audio device segment held the largest market share of 54.9% of the
overall revenue. This device is used at majority of the commercial places such
as ticket counters, banks, hotels, and offices. User can easily see a person
through glass windows and doors. This need is satisfied by the usual audio
device. Therefore, there is high requirement of audio door phones at such
places.
The segment of video door phones
is anticipated to grow at the fastest CAGR of 6.5% over the forecast period.
The growth is attributed to rising demand for these device at large societies
to regulate the entry and exit of visitors. Moreover, network video door phones
are gaining high popularity because it can be connected to a central security
unit which provides all round security to the house. Furthermore, technological
advancements, regulations and policies of government, and infrastructural
development are some of the factors expected to contribute to the market growth
from 2019 to 2025.
Application Insights
The residential application
segment held the largest revenue share which accounted for USD 2.5 billion in
2018. Personal security and safety of family members are the most important
factors of concern among modern consumers. In addition, numbers of residential
buildings are increasing rapidly with time. This is expected to accelerate the
demand for this device from 2019 to 2025. Families with children and senior
citizens highly prefer this product as it provides complete security.
Furthermore, features such as security alarm, recording facility and easy installation
process are expected to boost the sales of this device from residential sector.
View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/global-door-phone-market
No comments:
Post a Comment