Growing Popularity of Smart Homes Driving the Video Intercom Devices Market Growth
Video intercom devices market was valued at US$ 16.24 Bn in 2017 and expected to grow at a CAGR of 13.5% during the forecast period from 2018 to 2026. Video intercom device facilitates audiovisual communication and is considered an advanced from of simple voice intercom. The audiovisual feature of the intercom enables a person sitting inside a building to recognize and communicate with any visitor and thereby decide whether to permit the visitor an entry or not. The increasing installation of video intercom devices can be attributed to the growing popularity of smart homes across different regions. Governments in various countries are investing heavily in the development of smart cities. This in turn is creating positive demand for security infrastructure and devices such as video intercom devices. In addition, growing security concerns is another prominent factor aiding the video intercom devices market growth. These factors are expected to positively influence the video intercom devices market growth.
IP Technology based Video Intercom Devices to Gain in Prominence in the Years to Come
Technological advancements have led video intercom devices to switch from analog-based technology to IP based technology. This move is further beneficial as it facilitates better assistance to customers. For instance, recently Panasonic introduced a new full IP video intercom system. The new system works with a wide range of devices, including networked CCTV cameras, SIP phones and network video recorders. The system can be connected using a single cable thereby reducing installation complexity and cost. Similarly, Aiphone Corporation recently replaced its analog technology based video intercoms with IP networked technology thereby increasing the application area of the products. Moreover, it also improved the interoperability and audio-video quality of the devices.
North America Being an Early Adopter of “Smart Technology” has helped the Market to flourish in the Region
The global video intercom devices market was dominated by North America accounting for more than 35% of the overall market value in 2017. The video intercom devices market in the region is driven by rising spending over security systems coupled with strong home automation industry. Factors such as sophisticated communication infrastructure and strong inclination towards ‘smart’ technologies contributes to the overall growth of the video intercom devices market in North America. Therefore, considering the aforementioned factors the adoption of security systems with advanced security features are expected to be on the rise in the region. Moreover, people also consider these systems as a value-added service for better quality of living.
R&D activities to Remain in the Centre Stage in Coming Years
One of the most common strategies adopted by players in the video intercom devices market is product innovation, which is directed towards improving the existing products and developing new video intercoms devices with better functionalities. For instance, in December 2017, Hikivision introduced a new two-wire design video intercom. The new intercom boosts various new features and facilitates convenient installation and enhanced residential security with high-definition imaging. Similarly, The Ring, a company specializing in home security products launched a video doorbell equipped with an intercom with night infrared vision.
Key players profiled in the report include Panasonic Corporation, Honeywell Security, Legrand SA, Samsung, Airphone Corporation, Godrej Group, Zenitel, Zicom, Comelit Group S.P.A., Hangzhou Hikvision Digital Technology Co. Ltd. and Dahua Technologies Co. Ltd. among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Video Intercom Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Configuration
| |
Display
| |
Technology
| |
End-use Application
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
