Video Intercom Device Market By Product (Baby Monitoring System, Handheld Device, Door/Entrance System), Technology (IP-based, Analog-based), Vertical (Government, Residential, Commercial) & Region - Forecast to 2027
The global video intercom device market is anticipated to reach a valuation of US$ 53807.51 Mn by 2027, with sales growing at a stellar CAGR of 13.1% from 2017 to 2027. Valued at US$ 15711.6 Mn in 2017, the target market is set to present significant growth over the years. The rising need to ensure property safety, check on trespassing, and better communication with visitors are factors that foster growth for the video intercom device market during the forecast period.
Intercom devices with a video approach are categorized as video intercom devices. These devices are stand-alone intercom systems that are used to manage calls made at the building entrance and come with access control. The assortment of applications for video intercom devices and equipment has ensured better security and comfort in commercial, residential, and industrial spaces.
The video intercom devices not only serve communication needs but also offer a wide variety of different features such as improved IP-based networking, multi-site communication, and mobile video app for door intercom. These features are very attractive for consumers who are in the market for a video intercom device system.
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Again, for consumers who already use the product, many market players are offering product upgradation with smart and intelligent features. Such developments with regard to the residential and commercial verticals are expected to have a positive influence on the global video intercom device market during the projected period.
With markets and customers guided by intercom products continuing to transform with modernized needs that require new-age solutions, intercom manufacturers are constantly surveying the market and developing new and innovative solutions to meet the growing needs of the modern consumer. Moreover, modifications in hardware and software are changing and giving rise to new trends within the video intercom devices market. All of these considerations are expected to propel the target market during the forecast period.
“Rising popularity of smart video intercom devices, heightened demand from the residential sector, and the growing concern for personal and property security stimulate the global growth of the video intercom device market over the forecast period,” says an FMI analyst.
Key Takeaways:
Competitive Landscape
Panasonic Corporation, Honeywell Security, LEGRAND, Godrej Industries Limited, Zicom, Zenitel, Aiphone Corporation, Comelit Group S.P.A., Dahua Technologies Co. Ltd., and Hangzhou Hikvision Digital Technology Co. Ltd., among others are some of the major players in the video intercom device market profiled in the full version of the report.
Leading market players are focusing on offering upgraded and innovative features with the help of advanced technologies to expand their consumer base. These organizations are keen on product innovations, strategic partnerships and collaborations to strengthen their market position.
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More Insights into Video Intercom Device Market Report
In its latest report, FMI offers an unbiased analysis of the global video intercom device market, providing historical data and forecast statistics for 2017 to 2027. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (baby monitoring system, handheld device, door/ entrance systems), technology (IP-based, analog-based), vertical (government, residential, commercial, manufacturing/ industrial), and region.
According to the latest FMI reports, based on segmentation, the residential vertical segment followed by the government segment is expected to perform well over the forecast period. Concerns for family and property security is driving the growth of the door/ entrance segment which is expected to significantly contribute to the overall market growth.
Based on region, the video intercom device market in North America will display remarkable growth over the forecast period. This region accounts for a major portion of the target market share, generating a considerable incremental opportunity during this period of observation. This growth can be attributed to a heightened demand for the target product from the residential sector. North America is closely followed by Eastern Europe in terms of revenue generation owing to the rising popularity of smart video intercom devices.
Key Segments Covered
Product
Technology
Vertical
Key Regions Covered
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client
Future Market Insights Inc.
Apr 21, 2023
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