“Along with the rise in urbanization rates, the increasing penetration of the internet will drive the adoption of IP-based security systems”
In this report, Technavio covers the market outlook and growth prospects of the global door phone market for 2016-2020. The market is further categorized into two product segments, which are audio door phone and video door phone. In 2015, the market was dominated by the audio door phone segment, which accounted for more than 51% of the market share. However, video door phones are expected to capture the majority market share by 2020.
“The world is witnessing a growing number of smart city projects across various countries such as India, China, Canada, and the US. These smart cities are expected to drive the demand for automatic access control systems such as door phones, electronic locks, and others. Therefore, smart home projects will boost the demand for door phones in the market,” says Abhay Sinha, a lead research expert from Technavio.
Technavio’s research analysts segment the global door phone market into the following regions:
- North America
North America: growing trend toward smart homes to fuel growth
The door phone market in North America is expected to grow at a CAGR of close to 3% during the forecast period. Market consolidation and inorganic growth have been the trend in North America, with key vendors acquiring prominent local players to expand their market presence.
The market has witnessed an increased demand for video door phones in comparison to audio door phones, and vendors are investing in R&D to introduce new and more innovative products to fulfill this demand. The market for door phones in the region is growing significantly, with the growth in the real estate sector. The growing trend toward smart homes and home security products will fuel the growth of the door phone market in North America.
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Europe: increasing penetration of the internet will drive adoption
Western European countries like the UK, Germany, and Finland will be the largest contributors to the market for door phones in Europe. Eastern European countries are on their developing phase and have significant potential to drive the market demand for door phones in the region. Eastern Europe is witnessing improvements in living standards and growing urbanization rates. This, in turn, will support the growing trend of smart homes and adoption of advanced technology like the development of door phones and other advanced systems. “Along with the rise in urbanization rates, the increasing penetration of the internet will drive the adoption of IP-based security systems,” says Abhay.
APAC: new residential construction to have a positive impact on the market
The region is witnessing high GDP growth as well as high urbanization rates in the economies of India and China. These factors are driving the market as an increase in new residential constructions and product launches will generate demand for residential security systems like door phones.
Although, the markets in Australia and New Zealand are mature, the demand for safety and security from residential consumers is high due to rising concerns about security in these countries. APAC is the prime investment hub in the global market because of the growing rates of population in this region. The economy is developing constantly, which indicates a positive outlook for the residential sector and will in turn have a positive impact on the door phone market in APAC.
ROW: increasing security concerns to boost growth
The growing awareness about the importance of residential security systems is fueling the market for door phones in ROW. The demand for security systems is increasing in countries such as Brazil, Argentina, South Africa, the UAE, Saudi Arabia, and Qatar. The increasing terrorist activities, burglaries, and other crimes compel people to protect their homes from unknown access.
In addition, the user-friendliness of these products and accessibility from anywhere to activate the system have led to the increased adoption of these products in this region. Governments have also started promoting the importance of these systems, which creates awareness and increases the adoption of residential security systems in the region.
The top vendors in the global door phone market highlighted in the report are:
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