Technavio, a tech-focused market research firm, has published a new report on the door phone, which is expected to experience a slow but steady growth rate with a CAGR of close to 3% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global door phone market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global door phone market, into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global door phone market for 2015 (market share %)
|
North America |
54.86% |
|
Europe |
23.59% |
|
APAC |
19.59% |
|
ROW |
1.96% |
Source: Technavio
Door phone market in North America
North America accounted for a maximum share of around 55% in the global door phone market in 2015, with the US being the major contributor. The increasing demand for door phones in the region is due to the rise in home invasions and the growing home automation. Market consolidation and inorganic growth have been the latest trend in North America, with major vendors acquiring prominent local players to expand their market presence. The market is witnessing increased demand for video door phones as compared to audio door phones, subsequently propelling the manufacturers to invest in R&D to introduce newer, more innovative products to fulfil the growing requirements.
According to Abhay Sinha, a senior analyst at Technavio, “The booming real estate sector in countries like the US and Canada, demands the installation of door phones in the newly constructed residences. Moreover, factors such as the growing trend towards smart homes, rising number of home burglaries in the US and need for safety regulations will fuel the growth of the door phone market in North America.”
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Door phone market in Europe
The major contributors to the door phone market in Europe are the Western European countries such as the UK, Germany, and Finland. The growing instances of thefts and burglaries in Europe encourage household owners to install door phones to ensure safety and security. The Eastern European countries are in the initial stage and have significant potential to drive the market demand for door phones in the region. The improved lifestyle and rapid urbanization in Eastern Europe will support the growing trend of smart homes and adoption of advanced technology like the development of door phones and other advanced systems. Besides these, the increasing penetration of the internet will drive the adoption of IP-based security systems in the region. The vendors of door phone market in Europe have ample opportunities to increase the penetration of door phones in Eastern Europe. In Western Europe, Germany and Ireland are expected to witness the highest growth in construction sectors, during the forecast period. In Eastern Europe, the economic recovery is anticipated to continue, and Technavio forecasts a high market potential for door phones in the region.
Door phone market in APAC
APAC is the prime investment hub in the global door phone market because of the growing rates of population in the region. In APAC, developing economies like China and India are experiencing consistent growth in the door phone market due to the improved standards of living, increase in residential construction, and the expansion in distribution channels. Observing the rising consumer interests and preferences regarding residential security systems in the emerging markets in APAC, the vendors are acting accordingly. Unlike few countries in APAC, the markets in Australia and New Zealand are mature as the demand for safety and security from residential consumers is high owing to the rising security threats in these countries. With the increased internet penetration in APAC, vendors get a platform to enhance their sales and capitalize on the potential customer base by charging a premium for products like door phones. Vendors are focusing on improving innovation, customer services, and after-sales service to gain a competitive advantage in the market.
Door phone market in ROW
The growing awareness about the importance of residential security systems is fueling the market for door phones in ROW. The key contributors of this region are Argentina, Brazil, the UAE, South Africa, Saudi Arabia, and Qatar. The increasing terrorist activities, burglaries, and other crimes compel people to install door phones. Moreover, the user-friendliness and easy accessibility of these products have led to the increased adoption of door phones in the region. Besides this, governments have also started promoting the importance of these systems, creating awareness and increasing the adoption of residential security systems in the region.
The top leading vendors operating in the global door phone market are:
- Aiphone
- FERMAX
- Honeywell
- Legrand
- Panasonic
Other prominent vendors in the market include 1byone Products, ABB Genway, Axis Communications, Guangdong Anjubao, Hikvision, FARBELL, Samsung, Schneider, TCS, and Urmet Group.
A more detailed analysis is available in the Technavio report tilted, ‘Global Door Phone Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Power Amplifier Market 2016-2020
- Global Residential Security Systems Market 2016-2020
- Global Utilities Security Market 2016-2020
- Global Phone-based Authentication Market 2016-2020
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