Allied Market Research published a report, titled, “Video Door Phones Market by Type (Wired and Wireless], End User (Non-residential, and Residential), Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031″ According to the report, the global video door phones industry generated $4.6 billion in 2021, and is estimated to reach $9.5 billion by 2031, witnessing a CAGR of 7.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities
The surge in demand for security and surveillance drives the growth of the global video door phones market. On the other hand, the high cost associated with video door phones impedes the growth to some extent. However, adoption of video door phones in the non-residential sector is expected to create lucrative opportunities in the industry.
Covid-19 Scenario
- Countries across the world have suffered significant losses in terms of business and income as a result of the global shutdown and lack of raw material supply. The outbreak of the COVID-19 virus has exerted a critical impact on the production and industrial sectors throughout the world, resulting in economic breakdown and a decrease in the growth of the video door phones market in 2020.
- However, rise in organic growth strategies by the major key players has helped the market recover post-pandemic.
The Wireless Video Door Phones Segment to Rule the Roost
By type, the wireless video door phones segment held the major share in 2021, garnering around half of the global video door phones market revenue. The same segment would also showcase the fastest CAGR of 8.26% during the forecast period. Organizations continue to place a high level of faith in video door phones to increase security, and this trend is expected to continue in the future years. Commercial adoption is expected to gain momentum because there are no cables or complicated installation frameworks. Wireless video door phones are accessible in both online and offline marketplaces, thus driving the segment growth.
The Non-Residential Segment to Maintain its Dominance during the Forecast Period
By end user, the non-residential segment contributed to the highest share in 2021, accounting for around half of the global video door phones market revenue. The same segment would also showcase the fastest CAGR of 8.13% throughout the forecast period. Video door phones are widely used in non-residential sector for offices, buildings, or facilities around the world. In addition, video door phones are widely adopted to help identify and grant visitor access, alert security, and broadcast announcements in non-residential sectors.
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Asia-Pacific Garnered the Major Share in 2021
By region, Asia-Pacific garnered the highest share in 2021, holding nearly one-third of the global video door phones market revenue in 2021, and is projected to retain its dominance by 2031. The same region would also portray the fastest CAGR of 8.62% during the forecast period. The surge in presence of video door phones producers like Hikvision, Samsung, Panasonic, and others. In addition, the rapidly expanding residential sector has increased demand for video door phones, which is anticipated to accelerate market expansion of Asia-Pacific.
Leading Market Players
- Panasonic Corporation
- Honeywell International Inc.
- ABB Ltd.
- Aiphone
- Vtech
- FERMAX Global
- Zmodo
- Legrand
- SkyBell Technologies, Inc.
- 1byone, Inc.
