There is also an increasing trend of acquisitions and mergers among these companies to expand their product portfolios and market reach. Most of these companies are investing heavily in research and development to come up with innovative products that cater to the changing needs of consumers. The competition is driven by factors such as product quality, innovation, and price. Legrand, Honeywell, SAMSUNG, Panasonic, COMMAX, Entryvue, Fermax, MOX, Aiphone, TCS, SVAT, KCOCOM, Jacques Technologies, Nortek Security & Control, Elro, Guangdong Anjubao, Fujian Aurine Technology, WRT Security System, and Anjubao are some of the leading companies operating in this market. The demand for Video Door-phones has been increasing due to its ability to enhance security measures and provide remote communication with visitors. The primary factors driving the revenue growth of this market include a rise in crime rates, increased security concerns, and advancements in technology. The target market for Video Door-phone is primarily homeowners, residential apartments, and small businesses. It comprises a camera, microphone, speaker, and a display screen that allows communication between the resident and visitor. Video Door-phone Introduction and its Market AnalysisĪ Video Door-phone is a security system used to verify the identity of a person visiting a house or apartment before allowing entry. Additionally, privacy laws also affect the development of video door-phone products, as users' data must be protected against misuse or theft. Manufacturers must comply with various regulations enforced by government bodies to ensure product safety and security. The market is highly regulated, and legal factors specific to market conditions play a crucial role in product development. The commercial segment is also expected to witness substantial growth in the coming years due to security concerns. Increasing urbanization and rising disposable income have led to the growing adoption of video door-phones for residential use. In terms of application, the residential segment led the market in 2023 and is expected to maintain its dominance during the forecast period. The wireless video door-phone segment is expected to grow at a faster rate due to its high flexibility. The wired video door-phone segment is anticipated to witness significant growth owing to its user-friendly features and easy installation. The video door-phone market is segmented by type into wired and wireless video door-phone, with applications for both residential and commercial use. Recommendations include developing cost-effective and user-friendly devices and collaborating with local vendors to expand the distribution network. Main findings of the market research report suggest that standalone video door-phones dominate the market, Wi-Fi-enabled devices are gaining popularity, and Asia Pacific region would hold a significant market share. The market size of the Video Door-phone market was $1,523 million USD in 2023 and is expected to reach $2,448 million USD by 2030. Increasing security concerns, technological advancements, and rising adoption of smart homes are the major factors driving the market growth. The Global Video Door-phone Market is expected to witness considerable growth with a CAGR of 11.1% during the forecast period of 2023 to 2030.
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