Video Door Phones Market Expected to Reach $9.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Video Door Phones Market," The video door phones market size was valued at $4.6 billion in 2021, and is estimated to reach $9.5 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031.The rise in the need for security and surveillance is expected to accelerate the growth of the video door phones market analysis in the near future. 

A door phone is a collection of electronic and electrical components found at the front door of various infrastructures. Door phones allow two-way communication from outside the infrastructure while adhering to secure communication protocols. A door intercom system that electronically opens and closes the front gate contributes to a higher level of security. These doorbells can be installed in infrastructure such as offices, apartments, multi-family homes, shopping malls, stores, banks, hotels, bungalows, and villas.Acceptance of the video door phones by the non-residential sectors is anticipated to lead to chances for market expansion throughout the projection period since the business sector is more susceptible to hurdles than the residential sector. 

Some of the prime drivers of the video door phones industry are increasing popularity of technologically advanced wifi video door phone, as well as rising personal disposable income. Furthermore, increase in the number of burglary and theft cases, rise in concern about the safety and security of residential properties, expansion in research and development activities, and increase in globalization and westernization contribute toward the growth of the video door phones market. On the contrary, demand for such systems can be seen in villas, apartments, hotels, bungalows, stores, offices, banks, and other places. The requirement for such a system can be seen when a person must modify the entry of a person on their premises are anticipated to provide lucrative opportunities for the video door phones industry during the forecast period.   

The residential segment was the highest contributor to the market in 2021, owing to the rising demand for apartments having an inbuilt security system and wireless intercoms driving the adoption of IP intercom in the residential sector. For instance, Hikvision announced the launch of its second-generation IP video intercom system, it has high-definition image quality, easy operation interface, and flexible combination.

Growth in video door phones foster several growth opportunities for video door phone vendors in Europe. The region is anticipated to witness a high growth rate for the video door phones market during the forecast period, owing to the growth in the internet of things technology adoption. This is expected to help the company offer an innovative and energy-efficient video door phones for residential, and industrial entities.    

The outbreak of COVID-19 has significantly impacted the growth of the global video door phones sector in 2020, owing to the significant impact on prime players operating in the supply chain. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdowns, globally.  

Country-wise, the China region holds a significant share in the global video door phones market trends, owing to the presence of prime players. Major organizations and government institutions in this country are intensely putting resources into this global video door phones.Rapid urbanization and population expansion are raising the need for security. The rise in adoption of video door phones in hospitality and retail sectors is driving the market growth in the region. Moreover, the rise in need for security is directly boosting the market growth. Furthermore, the surge in crime rate is increasing the concerns over security among people in Asia-Pacific, leading to the rise in demand for robust security solutions. Hence, video door phones are an important part of these solution.These prime sectors have strengthened the video door phones market growth in the region.  

KEY FINDINGS OF THE STUDY 

• In 2021, by type, the wireless video door phone segment accounted for maximum revenue and is projected to grow at a notable CAGR during the forecast period. 

• The wired door phone segment is estimated to reach $3,722.9 million by 2031, at a significant CAGR of 7.07% during the forecast period. 

• By end user, the non-residential segment was the highest revenue contributor to the market in 2021. 

• Region-wise, the Asia-Pacific was the highest revenue contributor, accounting for largest video door phones market share  in 2021, and is estimated to grow at a highest CAGR during the forecast period. 

• Country-wise, China dominated the market in 2021 and expected to follow the same trend during the forecast period. 

The video door phones market key players profiled in the report include Panasonic Corporation, Honeywell International Inc., Legrand, ABB Ltd., Aiphone, SkyBell Technologies, Inc., VTech, FERMAX Global, 1byone, Inc, and Zmodo. The market players have adopted various strategies, such as product launches, collaborations & partnerships, joint ventures, and acquisitions to expand their foothold in the video door phones industry.