The global video intercom devices and equipment market is expected to witness a growth of 3% CAGR during the forecast period (2020-2025). As markets and customers served by intercom products continue to evolve with updated needs requiring new solutions, intercom companies continually poll the market and develop new and interesting solutions for catering to these requirements. Further, changes in hardware and software are transforming and giving a new trend to the video intercom devices market.
- Intercom devices are a vital component of communication and security in public and private domains. Due to increasing concerns for home security and the increase in growing crime rate is driving the growth of the intercom devices and equipment market.
- Due to the emergence of advanced technologies, such as edge-based video surveillance offering high-resolution imaging at low costs is driving the market at a faster rate.
- While the system or app might have a high level of encryption, the protocol might be very secure but if basic network security is mismanaged then hackers are being allowed in the front door of the network undetected, giving them time to look around and see what is interesting to access. This is a key challenge in the growth of the market.
Scope of the Report
Video intercom devices are intercom devices which uses video method and is a stand-alone intercom system used to manage calls made at the entrance to a building with access controlled. The diversity of applications for video intercom devices and equipment have added security and comfort in commercial, residential and industrial applications.
Key Market Trends
Smart Homes Trend to Drive the Market Growth
- Smart homes have gained significant popularity and every year its market size is growing. One of the biggest benefits of home automation is increasing the safety and security of any person’s home.
- The aim is to define security functions and guarantee a platform that allows developers to deploy the IoT in the target application.
- Traditional doorbells always needed to get near the door to verify identity, but video doorbells feature a high-definition 1080p camera, a buzzer, and two-way audio. All of these features connect to the smartphone or another smart device via the smart app.
- Smart video doorbells have become a necessary tool in home security because it is like a standing guard and it will gain the overall market size in the video intercom devices. It is the eyes and ears of anyone’s smart home security system, whether a person is at home or away. GuardMe Security provides user-friendly systems that are specifically designed with quality in mind. Guardme designs, installs, and services any type of system to access control, video security, and central monitoring.
North America to Account for a Significant Market Share
- North America is mainly organized and the residential sector is a major contributor to income generation. The strong home automation industry and the rise of spending towards security systems has contributed to the market growth in North America.
- The United States is gaining the market share due to its development in the video surveillance, safety & security, smart buildings, and home automation sectors. USA Complete Security’s Intercom installers in New York City are the premier installers, servicing residential and commercial customers for over 20 years. USA Complete Security installs intercom systems in New York City that provides the ability to screen the visitors before allowing them access into the home.
- People often consider these devices as a value-added service for better quality of living. Therefore, these factors in combination expected to drive the video intercom devices market growth in the region.
The video intercom devices and equipment market is moving towards fragmented market due to the presence of several local players. Also the important players have 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. Some recent developments in the market are -
- April 2019 - Hikvision, the world’s leading provider of innovative video surveillance products and solutions had showcased a whole new range of vertical specific solutions, including specialized applications, intelligent traffic management solution (ITMS) and mobile enforcement devices (body-worn cameras) in the third edition of the Fire & Security India Expo (FSIE) 2019. Hikvision had participated to present its best-in-class technologies and product innovations for the Indian security market. The firm also has released its second generation IP video intercom system which gives users a safe living environment through high-definition image quality.
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