Hikvision had Showcased a Whole New Range of Vertical Specific Solutions in the Third Edition of the Fire & Security India Expo (FSIE)
In April 2019, the third Fire & Security India Expo (FSIE) featured a variety of new vertical-specific solutions from Hikvision, the top global supplier of cutting-edge video surveillance goods and services, including specialized applications, intelligent traffic management solutions (ITMS), and mobile enforcement devices (body-worn cameras). In order to showcase its top-tier technology and product advancements for the Indian security market, Hikvision took part.
Increasing Demand for Security and Safety will Drive The Market
One of the key factors propelling the market for video intercom devices is the growing demand for security and safety. Security risks are getting more widespread and sophisticated in today's society, raising concerns about both human safety and property security. As a result, video intercom devices are growing in popularity. The ability to visually identify guests before allowing them access to homes or companies is one of the main advantages of video intercom devices. This is crucial for people living in multi-unit residential buildings because strangers can enter the complex if security is lacking. Video intercom devices also aid in thwarting prospective attackers and preventing unlawful access. Residents can instantly identify any suspicious activity and take the necessary measures if they can see who is at the gate or door.
High Maintenance and Repair Cost to Limit Market Expansion
The market is constrained by the high cost of users' maintenance and repairs for video intercom devices. Video intercom devices need routine maintenance and repairs, just like any other electronic item, to ensure good operation and long-term dependability. Depending on the system's complexity and the nature of the problem, maintenance and repair costs can change. For instance, if a camera or touchscreen display malfunctions, the system's components may need to be replaced, which might be costly. Also, if the system needs software updates or changes, it can also need expert assistance, which will raise the cost. Regularly cleaning and inspecting the cameras and other components to ensure they function properly can also be considered maintenance. This may require specific equipment and expertise, which will raise the entire cost.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the video intercom devices market plan acquisitions to improve their brand recognition globally. For instance, in January 2023, for its IX series systems, Aiphone Corporation introduced a remote programming service that enables installers to quickly create, edit, and save programming files in the QuikSpec online design tool.
List of Key Players Profiled in the Report
- Comelit Group S.p.A
- Honeywell International Inc.
- Alpha Communications
- Christy Industries, Inc.
- Panasonic Corporation
- Vantage Security
- SVAT Electronics
- Serious security Pty Ltd
- Optex (Europe) Ltd.
- Evervue USA Inc.
- Commend International GmbH
- AIPHONE CO., LTD.
- Swann and FERMAX ELECTRÓNICA
- The market in North America is expected to gain a huge portion of the global Video intercom devices market share in the coming years. The rising investment in domestic security systems is to blame for this.
- Due to smart city initiatives in nations like the United States and Canada, it is anticipated to maintain its top spot during the projection years.
- In the Asia Pacific, the growth in this region is primarily driven by increasing demand from the automotive industry for video intercom devices.
|Market Size in 2022
|USD 20.2 Billion
|Market Forecast in 2030
|USD 48.1 Billion
|Compound Annual Growth Rate
|Revenue (USD Million) and Volume (Kilo Tons)
|By Type, By Access Control, By System, By Technology, By End User, By Display, and By Geography
|By Access Control
|By End User