The door phone system market 2020 is supposed to exhibit a high rate of growth. Population across the world is expected to been seen to invest more in security solutions. This, in turn, is likely to work in favor of the market. The observation presented by Market Research Future MRFR indicates that the global door phone system market is projected to mark 7.85% CAGR over the review period 2018 to 2023. In addition, the market’s valuation is supposed to increase from 3.42 Bn in 2017 to 5.28 Bn by 2023 end
Increasing awareness about the thefts and robberies has led to the growth in demand for advanced security solutions. This, in turn, is prognosticated to expand the door phone system market in the foreseeable future. In addition, urbanization, coupled with rising disposable income, is projected to support the rise in demand for these systems. The urban areas are likely to witness more demand for the product than in rural areas. Hence, urbanization is poised to emerge as a driving factor of the door phone system market.
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Vendors of the system are providing innovative solutions to ensure maximum safety. These measures are projected to influence the future trajectory of the door phone market size positively. In addition, the rising commercial applications is also projected to play a developmental role in the maximization of profits in the market.
Based on type, the door Phone system market has been divided into audio and video. Among these, the audio door phone segment is expected to thrive owing to its popularity m it is supposed to dominate the market. However, the video door phone segment is likely to witness rising demand and is expected to mark a relatively higher CAGR.
On the basis of connectivity, the door phone system market has been segmented into wired door phone and wireless door phone. Among these, the wired door phone segment is projected to dominate the market. It is anticipated to capture a larger share of the market through the forecast period. The wireless door phone segment, on the other side, is projected to witness a higher rate of growth in the coming years.
On the basis of end-user, the door phone system market has been segmented into residential, commercial, and others.
The geographical study of the global door Phone system market has been offered in this MRFR report for the following regional segments – North America, Asia-Pacific (APAC), Europe, and the Rest of the World (RoW). These regional segmentation is followed by a country-level analysis for detailed study. North America is supposed to emerge as the largest regional segment. Led by the U.S., the advanced technologies and its quick adoption witnessed in the region is expected to boost the expansion of the door phone system market in the region. In addition, rising crime rate is also prognosticated to drive market augmentation in this region over the next few years. Europe is also poised to resonate similar growth opportunities and witness a high growth rate. Rising awareness about security solutions available is anticipated to encourage the expansion of the door phone system market in the region.
Honeywell International Inc. (US), Legrand (France), Svat Electronics (Canada), Samsung (South Korea), Nortek Security & Control (US), Jacques Technologies (Australia), Bosch Security System (US), Fermax (Spain), Aiphone (Japan), and Panasonic Corporation (Japan) are the key players of the door phone system market Other important players are Commax. (South Korea), MOX (Australia), Zicom (India), and Godrej (India).