Press release
Video Door Phones Market: Shaping Security Trends for 2024
Video Door Phones Market
According to The Business Research Company's, The video door phones market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to evolving design and aesthetics, introduction of basic intercom systems, analog video door phones, early adoption in high-security installations, limited product offerings.
The video door phones market size is expected to see strong growth in the next few years. It will grow to $8.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to regulatory requirements & standards, expansion of commercial applications, customization & personalization, focus on energy efficiency, affordable pricing & accessibility. Major trends in the forecast period include voice assistant integration, multi-unit installations, ai-powered analytics, cloud-based solutions, remote access & mobile control.
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Market Drivers and Trends:
The rising number of smart homes is expected to propel the growth of the video door phone market. A smart house is a building that uses internet-connected gadgets to enable remote monitoring and control of systems and appliances, including lighting, heating, locks, cameras, and televisions connected to the internet. Smart homes are generally remotely controlled through a smart home system that connects with appliances to automate specific tasks. As the smart home market grows, the adoption of video doorbells is significantly rising. Video door phones are one of the smart home security devices that homeowners and renters want for security reasons. For instance, in August 2022, according to Plume IQ, a US-based smart home technology company, there were around 41 million smart homes, and more than 1.8 billion connected devices managed on its global network. Further, in June 2021, according to GOV.UK, a UK-based public platform developed by the Government Digital Service to offer a single point of entry to HM Government services, the percentage of households with internet-connected smart televisions was 51%. Therefore, the rising number of smart homes is driving the growth of the video door phone market.
Technological advancements are a key trend gaining popularity in the video door phone market. Companies operating in the video door phones market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Aiphone Corporation, a US-based manufacturer of intercom and security communication products, introduced Remote Programming Service for its IX Series systems, QuikSpec's online design tool gives installers the ability to swiftly create, amend, and save programming files. The IX Series is an IP video intercom system that is an ideal solution for healthcare, education, and other locations where there is a need for a scalable video intercom system.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Panasonic Holdings Corporation; Honeywell International Inc.; Legrand SA; Aiphone Corporation; Fermax Global SL; VTech Holdings Limited.; SkyBell Technologies Inc.; Zmodo Technology Corporation.; 1byone Inc.; Vivint Inc.; Amocam Technology Co. Ltd.; Guangdong Anjubao Digital Technology Co. Ltd.; Secure EYE Services Private Limited; WRT Intelligent Technology Co. Ltd.; Ring LLC; ABB Ltd.; Telecommunication Systems Inc.; Jacques Technologies; Nortek Security & Control; Commax Co. Ltd.; Fujian Aurine Technology Co. Ltd.; Superior Value Added Technologies Inc.; Entryvue Technologies Inc.; MOX Networks LLC; Dahua GmbH; KOCOM Co. Ltd.; Axis Communications AB; Honeywe Automation India Limited; Samsung India Electronics Pvt. Ltd.
Video Door Phones Market 2024 Key Insights:
• The video door phones market will grow to $8.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Securing Smart Spaces The Surge In Video Door Phone Market Driven By The Growing Number Of Smart Homes
• Aiphone Corporation Pioneers Technological Innovations With Remote Programming Service In The Video Door Phone Market
• North America was the largest region in the video door phones market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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