The global video intercom device market is poised for significant growth, with projections indicating an increase from a projected valuation of USD 37,020.3 million by the end of 2023 to USD 128,200.0 million by 2033. This forecast reflects a robust compound annual growth rate (CAGR) of 13.2% during the forecast period, driven by increasing demand for enhanced security solutions and smart home technologies worldwide.
Video intercom devices play a crucial role in residential, commercial, and industrial settings by enabling secure audiovisual communication and access control. These devices offer convenience, safety, and integration with smart home automation systems, enhancing overall security measures and operational efficiency.
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Key Takeaways from the Market Analysis:
- Over the course of the forecast period, the video intercom device industry in the United States will be growing at a 5% CAGR.
- From 2023 to 2033, the Canada video intercom device industry is expected to expand at a 2% CAGR.
- Video intercom device sales in the United Kingdom are projected to expand at a 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 8% CAGR.
- Throughout the projected period, the China video intercom device industry is expected to expand at a rate of 9% CAGR.
- In 2023, the market share of infant monitoring devices is projected to reach 5%.
- The IP-based technology category accounted for 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 MD at Future Market Insights (FMI) analyst.
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.
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Video Intercom Device Industry Segmentation Analysis:
By Product:
- Baby Monitoring System
- Handheld Device
- Door/Entrance System
By Technology:
- IP based
- Analog based
By Vertical:
- Government
- Residential
- Commercial
- Manufacturing/Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Author:
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 a consumer electronics will likely remain the leading end-use sector cross 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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