New York, US, July 28, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Door Intercom Market information by Product, by Application and Region – forecast to 2027” the market was valued at USD 2,155.4 Million in 2018; it is expected to reach USD 3,663.6 Million by 2025 growing at a CAGR of 7.92%.
Door Intercom Market Scope:
Door intercom systems or door phone is a stand-alone voice communication system used within a building or small collection of buildings, functioning independently of a public telephone network. These systems normally consist of a camera mounted outside the door. Video intercom equipment is commonly installed as audio-visual communication systems at the entry-exit points of offices, societies, and commercial buildings, among others. These devices transmit audio and visual information using loudspeakers, cameras, and other components to allow communication between the visitor and the user. Rapid urbanization in different economies, combined with increased building automation, is boosting the adoption of door intercom systems for residential and commercial applications.
Dominant Key Players on Door intercom Market Covered Are:
- Legrand SA (France)
- Aiphone Corporation (Japan)
- Guangdong Anjubao Digital Technology Co., Ltd (China)
- Samsung Electronics Co., Ltd (South Korea)
- Panasonic Corporation (Japan)
- Fujian Aurine Technology Co., Ltd (China)
- COMMAX (South Korea)
- Shenzhen Soben (China)
- Dahua Technology Co., Ltd (China)
- Honeywell International, Inc. (US)
- Kocom Co., Ltd (South Korea)
- Schneider Electric SE (France)
- ABB Group (Switzerland)
- Fermax (Spain)
- TCS AG (Germany)
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Segmentation of Market Covered in the Research:
The global door intercom market has been segmented into products and applications.
By product, the global door intercom market has been segmented into an ordinal intercom system and a Wi-Fi intercom system. The Ordinal Intercom Systems segment accounted for the highest market share in 2018, with a market value of USD 1.111.50 million. The Wi-Fi intercom system segment is anticipated to exhibit the highest CAGR in the forecast period.
Ordinal intercom systems are the most common type of door intercom systems and are normally designed by professionals during the construction process. This form of intercom system is normally hidden within the walls of the house and is slightly expensive compared to other forms of intercom systems. Wi-Fi intercom systems use various types of radio frequencies to transmit intercom signals within the premises. Wi-Fi intercom systems are cheaper than ordinal intercom systems. These devices do not require any installation. In most cases, Wi-Fi intercom systems are battery-powered and can last for a long time. Some intercom systems send out notifications when the battery needs to be replaced. Some indoor or outdoor wireless intercom systems are also fitted with portable receivers. Depending on the user's convenience, these devices can be accessed from various locations.
By application, the global door intercom market has been segmented into apartments, houses, hotels, offices, and others.
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Regional Analysis
By region, the global door intercom market has been segmented into the Asia Pacific, North America, Europe, Middle East & Africa, and Central & South America.
APAC to dominate the global market
The Asia Pacific region dominates the global market. It is expected to grow at a CAGR of 9.63% owing to the increasing disposable income levels in emerging economies such as India and China. However, the spread of the COVID-19 pandemic has prompted businesses to reconsider their plans to cut operating costs. In addition, coronavirus originated in China has spread across the globe, due to which most manufacturers are moving operations from China to India. This change is expected to have a positive effect on the Indian market.
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Industry Trends
In February 2019, Aiphone Corporation launched an updated JO Series video intercom that allows homeowners and small businesses to monitor front-door access on-site or from virtually anywhere using a cloud-based mobile app.
In January 2019, Honeywell launched Pro Watch 4.5, a connected security platform. Key features of this platform involve web-based alarm and event handling, and access and vendor management portals.
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COVID-19 Impact on the Global Door intercom Market
The outbreak of COVID-19 has had a major effect on the door intercom industry. The spread of the COVID-19 pandemic has prompted governments across the globe to take precautionary steps to contain the spread of the virus. The lockdowns enforced by governments in most countries have resulted in the closure of schools, offices, and hotels. The construction of new offices has been halted, which seriously hinders the development of the industry. In addition, delays in the development and installation of door intercom systems in offices, hotels, and homes are responsible for declining sales of door intercom systems, which, in turn, impede the growth of the door intercom industry.
The adverse effects of COVID-19 are rising on a daily basis and impact supply chains. The instability of supply chains, the uncertainty of the stock market, price volatility, and the downturn of business activities have had a dramatic effect on the development of the market. The spread of the COVID-19 pandemic has greatly affected the demand for electronic devices, including industrial electronic devices as well as consumer electronics, as China is a major supplier of raw materials and finished goods. This scenario is expected to adversely impact the revenues of prominent companies post the lockdown period.
Impact of COVID-19 on the Door Intercom Market:
https://www.marketresearchfuture.com/report/covid-19-impact-door-intercom-market
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.