Report

The Video Intercom Devices And Equipment Market size is estimated at USD 45.79 billion in 2024, and is expected to reach USD 76.86 billion by 2029, growing at a CAGR of 10.91% during the forecast period (2024-2029).

Rising demand for these devices in the security and surveillance sector is anticipated to fuel market expansion throughout the forecast period. The market for video intercom devices is also changing and taking on a new trend due to developments in hardware and software.

Growing demand for video surveillance or security equipment and increased investment in the smart building and smart home markets are some of the primary reasons driving the market's growth. Additionally, the market under study is anticipated to experience growth due to rising product innovation and advancements in other device-connected features.

The intercom market is being driven by improvements in security software, connectivity, customization, and sound quality, among other things. The corporate network now makes it feasible to share information and control units from a few yards. Intercom firms continuously survey the industry and create novel and intriguing solutions to meet these criteria since the markets and customers served by intercom goods continue to change and have updated needs demanding new solutions.

Moreover, as new infrastructure comes up in the residential and commercial sectors, the high focus on advanced video surveillance alongside the ease of convenience is anticipated to drive the market's growth. Data centers, for instance, are expected to witness high growth rates since security is one of their primary concerns.

Furthermore, it is anticipated that the market will benefit greatly from the expanding popularity of smart homes. Various government initiatives to create smart cities are also anticipated to fuel market growth. The market is expanding due to the introduction of sophisticated security audiovisual systems that offer offices and residential buildings a higher level of security.

The market studied has witnessed significant advancements through the innovation of various hardware products and solutions. The need for touchless solutions, higher video quality, noise cancellation features, and stress on ease of convenience have characterized the launch of new products.

The extremely high rate of hacking poses a barrier to the industry being researched because people are concerned about how it may affect the security and safety of homes and businesses. In addition, compromising network security exposes the infrastructure's overall security. However, tight security regulations and developments are anticipated to alleviate the issues brought on by the worry about hacking.

The COVID-19 epidemic damaged the worldwide supply chain and demand for electronics, which hurt the adoption of IP video intercom market hardware. The electronics sector saw a supply deficit as a result of the production halt in nations all over Europe and the world. However, the emphasis on remote monitoring increased the demand for IP video intercom systems among different end-users in the residential, business, and government sectors.

Video Intercom Devices Market Trends

Commercial Sector to Hold the Significant Share

The commercial sector includes office structures that may house numerous organizations. These buildings have video intercom systems installed at the entrance and departure points to prevent unauthorized persons from entering and to permit access to those who are needed. Additionally, delivery employees can enter offices via video intercom systems without requiring permission at entry points.

Buildings with several blocks hosting more than one business are the ideal target areas for video intercom devices and equipment. As the market progresses from analog to IP, IP-based solutions are anticipated to gain significant traction. Commercial spaces can be noted to move away from aging access control systems and transitioning away from outdated two-wire analog cabling. Such factors are anticipated to drive the growth of the studied market in this segment.

The development of smart buildings is a feature of the research area, along with expanding the commercial real estate market. The region is home to several smart building initiatives expected to accelerate the use of IP video intercoms as these systems become a crucial component of office security solutions.

For commercial interests, security issues have spread to more areas. The adoption of IP video intercom services is directly related to the increased demand for video surveillance at entry and exit points to prevent physical breaches where non-contact access control has gained traction, parking lots, and the transportation sector to maximize visibility and communication.

In commercial structures, the IP video intercom system is becoming increasingly common. The IP video intercom also has extra features like mobile app control and the ability to integrate CCTV systems. Products with capabilities like remote alerts and notifications that are delivered right to phones and PCs are also available from market sellers.

In addition, it is anticipated that the commercial sector'ssector's expansion of smart buildings will accelerate the adoption of video intercom technology. Additionally, as the market for smart buildings expands globally, more and more members of the general public are investing in linked building hardware, even in the security sector. The market under study primarily benefits from these trends.

Moreover, new product additions to the portfolio by vendors would further drive the market'smarket's growth. For instance, in March 2022, Motorola Solutions released the new Openpath Pro Series Video Intercom, reader to offer real-time video visibility, enabling a faster response to incidents.

North America Accounts for a Significant Market Share

North America is primarily organized, and the residential sector significantly contributes to income creation. The market expansion in North America has been aided by the robust home automation sector and rising spending on security systems.

The video intercom devices and equipment market in the United States will witness high growth owing to the growing adoption of smart home technology and products. According to the National Council For Home Safety and Security (Alarms.org) study, more than 3 in five Americans claim "security" is the top benefit of owning a smart home.

With cities like New York being well-known smart cities, the United States has been acknowledged as one of the pioneers in creating smart cities in recent years. The US has seen several notable urban advancements, and these innovations may provide opportunities for the adoption of video intercom systems.

Local governments are implementing numerous smart city initiatives nationwide to enhance services and open up new opportunities by adopting more advanced technologies. Schenectady, New York, Miramar, Florida, and Brownsville, Texas, are just a few of the interesting smart city initiatives. Such projects are expected to drive the market.

The region's video surveillance market is growing in size as a result of increasing investment. Additionally, for security purposes, governments all around the region are increasing their spending on video monitoring programs. Due to the fast-rising demand from the United States, Canada, and other countries, the region is experiencing tremendous expansion in adopting video surveillance systems.

The government funding program for the region is mainly concerned with cross-sectoral projects that will improve the livability and prosperity of the cities and that other municipalities in the region will later adapt. Due to this increased expenditure, the government and commercial sectors are anticipated to embrace smart buildings, generating a supplementary market for cutting-edge IP-based video intercom systems.

Video Intercom Devices Industry Overview

The video intercom devices and equipment market is moving toward a fragmented market due to the presence of several local players. The important players have also used various strategies, such as joint ventures, acquisitions, partnerships, agreements, new product launches, expansions, and others, to increase their footprints in this market. Some of the key players in the market are Samsung, Legrand, Honeywell, etc.

May 2023- Hikvision announced releasing new video intercoms to upgrade entrance security. This exciting new compact surface-mount villa door station will provide users with a unique experience for door access with state-of-the-art technology. It supports access card and facial authentication and can support up to 20,000 contacts with built-in storage and processing.

September 2022 - Ring announced its latest gadget that makes Suer's apartment intercom smart. Ring Intercom is a DIY, retrofit device that attaches to the intercom inside the user's home and connects via Wi-Fi to the Ring app on their smartphone. It's specifically designed for European apartment buildings where multiple flats (or apartments) have one entry point and only an audio intercom system installed.

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