The demand for video intercom devices has increased globally as a result of rising awareness of the benefits of these devices and government attempts to increase awareness. Increasing technological developments and up gradations in the video intercom devices will also generate profitable growth chances for the video intercom devices market in the long run. The development of smart cities, modern urbanisation, and the use of video intercom devices are all contributing to the growth of the market. The need for video intercom devices will increase as a result of the growth and expansion of different end user verticals. The market for video intercom devices will grow as a result of increased demand from the automobile industry. Another factor driving the market expansion for video intercom devices is improved smart home quality.
The recession will have a significant effect on the market for video intercom devices. At times of economic difficulty, customers are more likely to be frugal with their money and may choose to spend more on necessities than on optional items. As a result, fewer people may need things like video intercom devices, which could lower their demand. A recession may also make consumers more price-sensitive and less ready to pay the higher price of video intercom devices. Particularly for more expensive and high-end models, this may result in a decline in sales.
Rising Trend for Smart Homes is a Major Market Driver
Smart homes have achieved substantial appeal and market size is expanding every year. Increasing the safety and security of any person's house is one of the main advantages of home automation. The objective is to provide security features and ensure a platform that enables developers to integrate IoT into the intended application. Video doorbells have a high-definition 1080p camera, a buzzer, and two-way audio in contrast to traditional doorbells, which need the user to be close to the door to confirm identity. Each of these functionalities can be connected to a smartphone or other smart device via a smart app. Smart video doorbells, which function as a standing guard and will grow the market for video intercom devices, have become an essential tool in home security.
High Initial Cost of Video Intercom Devices to Limit Market Growth
One of the key market limitations is the high cost of video intercom devices. Depending on the features and specs, the price of these devices might vary, however they often cost more than conventional audio intercom devices. The sophisticated technology employed in video intercom devices is one of the factors contributing to the high price. These gadgets frequently have touchscreens, high-definition video cameras, and other features that call for more sophisticated hardware and software. The size and intricacy of the property are other factors raising the price. Larger buildings or properties with numerous entry points may need more sophisticated and expensive systems to achieve thorough coverage and security.
Based on type, the video intercom devices market is segmented into door entry systems, handheld devices and video baby monitors. The door entry systems category dominated the market in 2022. These systems include numerous features, including keyless entry management, audiovisual functionality, and flexible operating options for connecting to IP networks, and they provide improved audio and visual quality.
By Access Control
Based on access control, the video intercom devices market is segmented into fingerprint readers, password access, proximity cards and wireless access. The password access category dominated the market in 2022 due to advantages like high security, comfort, and accessibility. Data is encrypted during password access and can be decrypted by entering the correct fingerprint or keyword password.
Based on system, the video intercom devices market is segmented into wired and wireless. The wired category dominated the market in 2022 due to the many advantages of these systems, including their simplicity of installation and practicality of communication. Furthermore, it is simple to integrate wired appliances with already installed systems. Wireless technology is accessible and gives consumers secure access control. Its features include keyless entry utilising a built-in touchscreen keypad, motion detection with audiovisual surveillance, smart lock integration, and audiovisual storage at no additional cloud fees, and smart lock integration.
Based on technology, the video intercom devices market is segmented into analogue and IP-based. The IP-based category dominated the market in 2022 because of their widespread use as a result of technological and feature developments. These appliances have several advantages, including simple installation, low upfront costs, and little infrastructure requirements. Such IP-based video intercom devices include CCTV cameras, network video recorders, and SIP phones. These systems deliver excellent video quality regardless of the quantity of receiving devices, fueling the segment's expansion.
By End User
Based on end user, the video intercom devices market is segmented into automotive, commercial, government, residential and others. The residential category dominated the market in 2022. Due to their protection against intruders, the goods are frequently employed in residential buildings. The device has monitor stations and IP video intercom terminals that are connected to access control and CCTV systems. This technology has been specifically designed for private homes, housing developments, and apartments to provide the highest level of security and safety.
Based on display, the video intercom devices market is segmented into colour and black and white. The colour category dominated the market in 2022. The most prevalent sort of display used in contemporary video intercom equipment is a colour display. Full-color video can be seen on these displays, which can offer greater detail and information than panels that only display black and white. This can be crucial in situations where it's critical to accurately identify individuals or items.
North America is projected to hold the largest share of the video intercom devices market over the forecast period. This development can be ascribed to the rise in smart home adoption in the United States, Canada, and Mexico as well as the rising demand for IP-based communication systems. The regional market is anticipated to see development potential as a result of efforts like smart buildings and smart transportation. During the course of the projection period, the market is also anticipated to benefit from the region's rapid growth in the residential and commercial sectors. On the other hand, the Asia Pacific video intercom devices market is anticipated to grow significantly because there is a growing need for video intercom devices in a variety of industries, including transportation, healthcare, and retail. High levels of competition from established competitors in this area are another factor in the expansion. However throughout the course of the projection period, this market is likely to increase significantly as new product launches and expansions by major companies are anticipated to spur adoption.
LIST OF KEY COMPANIES PROFILED:
- 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
- In January 2023, the 2-wire hybrid EACH series intercom devices for villas was created by Dahua Technologies. The newly developed EACH series, which offers a new definition of scalability, accessibility, ease, and high-definition video for 2-wire video intercom devices, carries on Dahua's cutting-edge technological innovation and business experience in the field of intelligent buildings.
|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