Video Intercom Devices and Equipment Market is forecasted to grow at XX% CAGR and reach $XXX million by 2020. The market is increasing at a decent pace, and isn’t going to saturate throughout the forecast period due to the rising demand in the security and surveillance sector.
The need for video intercom accessories in residential and commercial buildings is rising over the years, which absolutely drives the market for the same. Although the residential applications are projected to rise, commercial applications will be rapidly escalating with ameliorating economies that lead to additional funds from the private sector and thus show the fastest growth during the forecast period. Government applications are expected to show slow progress due to the austerity acts being forced for cost cutting, especially in regions such as Europe.
Market for video surveillance systems is led by APAC, followed by America and Europe. The global video surveillance systems market is forecasted to grow at over XX% due to the growing necessity for observation in many public places along with residential areas all over the world. The technological developments such as increase in combination with building automation and the change in direction of customers towards the portable video intercom devices are accountable for the shift from audio to video door phones or video intercom devices. The introduction of low-priced Chinese audio intercom devices is pushing the manufacturers all over the world to support more video intercom solutions in order to meet with the fierce competition, thus backing the market growth.
Market segmentation is done on the basis of applications, device and access control. Video intercom devices and equipment market finds major applications in residential, automobiles, educational buildings, commercial, governmental and so on. On the basis of device, the market can be segmented into:
Door entry systems
Video baby monitors
On the basis of access control, market can be divided into:
Geographically, the video intercom devices and equipment market has been segmented into five regions, namely,
Middle East and Africa (MEA)
Major players in the market are Honeywell Security, Panasonic Corporation, Samsung, Legrand SA among others.