The global video intercom device market is expected to register a CAGR of 13.1% during 2017 – 2027, with North America, Western Europe, and APEJ accounting significant shares by the end of the forecast period.
FMI has delivered the key insights on the global video intercom device market in its report titled “Video Intercom Device Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”. The growth of the global video intercom device market is expected to be attractive as the market is expected to grow continuously at a CAGR of 13.1% in terms of value during the forecast period, 2017 – 2027.
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Video Intercom Device Market: Analysis & Forecast
On the basis of product, the door/entrance system segment is expected to register attractive growth during the forecast period in the global video intercom device market. On the basis of technology, the IP-based video intercom device segment is expected to witness an attractive growth during the forecast period in the global video intercom device market. Based on vertical, the residential segment is expected to gain a high share in the global video intercom device market during the forecast period.
The global video intercom device market was valued at US$ 15,711.6 Mn by the end of 2017, and is expected to grow at a steady pace over the coming years. Developed economies of North America, Eastern Europe and APEJ are collectively expected to account a major share of the global video intercom device market. North America, Eastern Europe and APEJ are projected to be the dominant regional markets for video intercom device, where APEJ is expected to grow at high CAGR during the forecast period.
Video Intercom Device Market: Dynamics Impacting Revenue Growth
Since the last few years, the adoption of video intercom device has increased considerably, especially in the residential segment. The manufacturers of video intercom devices are planning to reduce the overall as well as the installation cost. Apart from building and societal security infrastructure, video intercom devices are deployed for baby monitoring purpose facilitating parenting ease, by providing information about the baby’s routine activities.
The door/entrance system segment in the global video intercom device market is expected to witness significant growth over the forecast period. The system sends an alert signal to the user regarding the entry and exit of a known or unknown person, even if the user is not present at the premise, which is the prime factor driving the demand for door/entrance system.
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Video Intercom Device Market: Regional Insights
North America is expected to be the dominant regional market for video intercom device as the overall revenue generated from the residential segment has surged owing to the increased adoption of smart home automation solutions. Consumers nowadays are adopting security systems with advanced features embedded in their smart home applications, considering it as a value-added service for better quality of living. Such factors are encouraging the vendors of video intercom devices to innovate their solutions, which is thus driving the growth of the video intercom device market in the region. The APEJ video intercom device market will be a target market for the participants owing to the high growth opportunities in countries such as India and China. The video intercom device market in Eastern Europe has high potential. Penetration of smartphones in the European countries is increasing rapidly, and population living in urban areas is looking for better security solutions such as video intercom devices to deploy in their smart homes. This is a major factor expected to drive the growth of the video intercom device market in the region.
Video Intercom Device Market: Competition Analysis
According to FMI’s analysis, the integration of advanced technologies by the manufacturers of video intercom devices, along with enhancement of functionality will help increase their revenues in the video intercom device market. Examples of some of the key participants operating in the global 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., and Hangzhou Hikvision Digital Technology Co. Ltd.
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