WiseGuy Reports
The forecast Corded Phones market size was USD 13.88 billion in 2023. The Corded Phones market is expected to grow from USD 14.64 billion in 2024 to USD 22.5 billion by 2032. During the forecast period (2024 – 2032), the Corded Phones market is expected to register a Compound Annual Growth Rate (CAGR) of about 5.51%.
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Market dynamics
Market growth and size
The corded phones market is showing a stable trend, which is mainly attributed to their reliability and simplicity. Despite the rise in mobile and smart technology, corded phones remain a staple in various sectors including residential, commercial and institutional. The growth of the market is supported by their cost-effectiveness and durability, which continue to appeal to certain consumer segments.
Technological innovations
As technology has advanced, corded phones have been enhanced with new features that improve their functionality. Modern corded phones often come with features such as caller ID, call waiting, and built-in answering machines. These innovations meet the evolving needs of consumers, combining traditional reliability with modern convenience.
Market segmentation
The corded telephone market can be segmented by product type, end user and region:
By product type: The market includes single-line phones, multi-line phones, and others. Multi-line corded phones are especially popular in office environments and offer features such as multiple lines and intercom.
By end user: The primary end users are home users, businesses and government institutions. Businesses prefer corded phones due to their robustness and consistent performance in the office environment.
By Region: North America, Europe, Asia Pacific and Latin America are the key regions. North America and Europe have significant market shares due to their developed infrastructure and high penetration of traditional communication devices. Asia Pacific is witnessing increasing demand due to increasing industrialization and the need for reliable means of communication.
Market drivers
Reliability and durability
One of the main advantages of corded phones is their reliability. Unlike cordless phones or cell phones, corded phones are less prone to connection problems and do not rely on batteries, ensuring consistent performance. This reliability is especially appreciated in emergency situations and in areas with unstable power supplies.
Cost efficiency
Corded phones are generally less expensive than their cordless counterparts. Their low purchase and maintenance costs make them an attractive option for both individuals and businesses looking to effectively manage their costs.
Simplicity and user-friendliness
Corded phones are simple and easy to use, making them ideal for older people and anyone who prefers uncomplicated technology. Their user-friendly design eliminates the need for complex setup and configuration work.
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Challenges and limitations
Market saturation
The corded phone market is saturated, especially in developed countries where the use of mobile and smart technologies is high. As consumer preferences shift toward multifunctional devices, demand for traditional corded phones may grow at a slower pace.
Competition from wireless technologies
The rise of wireless technologies is challenging the corded phone market. Cell phones and VoIP systems offer enhanced features and more flexibility, which can overshadow the appeal of corded phones.
Major companies in the corded telephone market include:
Mitel, NEC, Uniden, Avaya, Yealink, Panasonic, Polycom, Alcatel-Lucent Enterprise, Fanvil, Snom Technology, Grandstream Networks, AT, Gigaset, Cisco.
Future prospects
The corded telephone market is expected to continue its steady growth, driven by sustained demand in certain sectors. Innovations in design and functionality will play a crucial role in sustaining interest. The market is likely to see greater adoption in developing regions where infrastructure improvements are underway.
Emerging markets
The emerging markets of Asia Pacific and Latin America offer growth opportunities for corded phones. As the communication infrastructure in these regions develops, the demand for reliable and cost-effective communication devices such as corded phones is expected to increase.
Product innovations
Future developments in corded telephone technology could focus on integrating enhanced features while maintaining the core attributes of reliability and simplicity. This could include improved compatibility with other communications systems and improved ergonomic designs.
Changing consumer preferences
As consumer preferences evolve, there may be a growing niche for corded phones that combine traditional benefits with modern enhancements. Products tailored to the needs of specific user groups, such as the elderly or businesses that require reliable means of communication, will continue to have market relevance.
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