Global Video Intercom Device Market to total US$ 128,200 million by 2033, rising at a 13.2% CAGR | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Video intercom device industry experiences robust growth with increasing demand in the security and surveillance sector, driven by evolving hardware and software innovations.
NEWARK, Del, Oct. 26, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the market for video intercom devices was estimated to be worth US$ 32,780.7 Million in 2022. It is anticipated that the industry would be valued US$ 37,020.3 Million by 2023. The video intercom device market is going to expand at a 13.2% CAGR over the course of the forecast period, reaching a valuation of US$ 128,200.0 Million by 2033.
With a focus on convenience and sophisticated video surveillance, the market is anticipated to grow as new infrastructure is constructed in residential as well as business environments. For instance, since security is one of their top objectives, data centers are expected to increase and, as a result, bolster the demand for these devices.
Over the course of the forecast period, the video intercom device industry in the United States will be growing at a 4.5% CAGR.
From 2023 to 2033, the Canada video intercom device industry is expected to expand at a 4.2% CAGR.
Video intercom device sales in the United Kingdom are projected to expand at a 5.5% CAGR over the course of the projected year.
From 2023 to 2033, the video intercom device market in France is anticipated to develop at a 5.8% CAGR.
Throughout the projected period, the China video intercom device industry is expected to expand at a rate of 18.9% CAGR.
In 2023, the market share of infant monitoring devices is projected to reach 43.5%.
The IP-based technology category accounted for 53.5% of the worldwide market in 2023.
“Rising demand for these devices for surveillance and security purposes at the entry-exit points of workplaces, societies, and buildings is anticipated to drive market expansion during the forecast period,” opines Sudip Saha, managing director and Co-founder at Future Market Insights (FMI).
Competitive Landscape:
The market for video intercom devices has grown increasingly fragmented due to the presence of several local businesses. The top companies have also used a variety of strategies, such as collaborations, agreements, acquisitions, joint ventures, product launches, and expansions, to increase their market share.
To boost profitability, major global video intercom device companies are incorporating essential technologies such as facial recognition and complete artificial intelligence (AI).
Prominent Players in the Video Intercom Device Market are:
Panasonic Corporation
Honeywell Security
LEGRAND
Godrej Industries Limited
Zicom
Zenitel
Aiphone Corporation
Comelit Group S.P.A.
Dahua Technologies Co. Ltd
Hangzhou Hikvision Digital Technology Co. Ltd.
Key Developments:
In 2022, ASSA ABLOY acquired the developers of DoorBird. The ASSA ABLOY Group has purchased 100% of the assets in Bird Home Automation GmbH, the manufacturer of the DoorBird video doorbell. According to ASSA ABLOY, the purchase of DoorBird will strengthen its portfolio of IP door intercoms and present prospects for complementary expansion.
In 2022, Ring unveiled its newest device, which upgrades the apartment intercom to a smart one. The Ring Intercom is a do-it-yourself retrofit device that allows customers to connect to their home intercom and then use Wi-Fi to access the Ring application on their smartphone. It is intended primarily for use in European residential complexes with several flats (or apartments) sharing a single access point and a single audio intercom system.
Future Market Insights offers an unbiased analysis of the video intercom device market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the video intercom device industry, the market is segmented on the basis of product (baby monitoring system, handheld device, door/entrance system), technology (IP-based, analog-based), vertical (government, residential, commercial) and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Video Intercom Device Industry Segmentation Analysis:
About the Technology Team at Future Market Insights:
The technology domain at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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