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.
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.
Read More@https://www.globenewswire.com/news-release/2023/10/27/2768118/0/en/Global-Video-Intercom-Device-Market-to-total-US-128-200-million-by-2033-rising-at-a-13-2-CAGR-Future-Market-Insights-Inc.html
