Global Video Intercom Devices and Equipment Market - Growth, Trend and Forecasts (2018 - 2023)
The video intercom devices and equipment market is expected to grow at a CAGR of 2.29%, over the forecast period (2018 - 2023). The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The evolving technological developments, such as increase in implementation of building automation and change in customer perspective on traditional intercom systems are accountable for the shift to portable video intercom devices or video door phones. The diversity of applications for video intercom devices and equipment has been the main driving force for growth of the video intercom devices and equipment market; added security and comfort are some of the attractive features of video intercom devices. While commercial, residential and industrial applications forecast positive growth for the video intercom devices and equipment market, government applications are expected to show slow progress due to the austerity acts being forced for cost-cutting. The high initial investment required for setting up sophisticated equipment along with high maintenance costs compared to the traditional audio intercom systems, tend to recede the growth of the video intercom devices and equipment market.
Rise in Residential and Commercial Buildings will drive the Market Growth
In the recent years, there has been a surge in the construction of residential and commercial buildings, across the globe, owing to the public demand for secure and luxurious homes. Security is always a concern for the people living in large homes, and general intercom devices do not provide satisfactory service. Surveillance in public and commercial places as well as residential buildings is a priority, in order to protect the premises from theft or other dangers; this drives the video surveillance systems market, positively. Furthermore, the developments in technology, such as building automation, are expected to drive the market for video intercom devices that can be used as a central controller to the entire mainframe of the building. Combination of building automation and video surveillance and intercom devices is expected to hold a high significance in the future, in residential as well as commercial applications.
Automobiles to generate Significant Demand for Video Intercom Devices
Video equipment in automobiles has multiple applications, with rear-view cameras and monitors being the most common applications, among other applications like inter-vehicular communication. IP intercom devices also help in locating other vehicles, in case they are connected to the same network. IP video intercom devices are multi-functional and can be operated from within and outside a network as well. Video intercom systems have a large number of applications in military vehicles. Furthermore, with the advent of ADAS (Advanced Driver Assistance Systems), automobiles will increasingly install video surveillance equipment. There is a huge potential for application of video surveillance and intercom systems in the automobile sector, which is expected to drive the market, positively.
APAC to account for a Major Share
The Asia-Pacific video intercom devices market is expected to receive a huge boost with the rise in number of residential and commercial establishments in the region. Huge rise in number of gated communities with 24/7 security with video surveillance and automated door handling systems integrated, is driving the growth of the market in the region. The Ministry of Public Administration and Security in Korea indicates that the Korean government plans to integrate CCTV in 230 cities according to security, disaster, traffic, and anti-vandalism issues. The government is spending about 171.5 million pounds for integration and installation of these security systems. According to this plan, approximately 2.85 million security cameras will be installed, thereby creating a new potential video surveillance market in Korea. Also, with the increasing commercial and residential buildings in South Korea, the country is expected to significantly contribute to the major share of the region. Furthermore, the introduction of low-priced Chinese audio intercom devices is pushing manufacturers all over the world to support more video intercom devices, in order to cope up with the fierce competition posed by the Chinese products, thus supporting market growth.
Key Developments in the Market
December 2017 - Aiphone Corporation introduced the second generation of IP video intercoms with the release of the IX Series. Its features include video identification, emergency call queuing, ONVIF video streaming, and paging. The system can remotely unlock doors or broadcast information quickly to multiple stations using either the standard master station or the new IX Series mobile device application.
Major Players: HONEYWELL SECURITY GROUP, SAMSUNG GROUP, COMELIT GROUP S.P.A, SIEDLE USA, ZICOM ELECTRONIC SECURITY SYSTEMS, CHRISTY INDUSTRIES, INC., LEGRAND SA, ALPHA COMMUNICATIONS, PANASONIC CORPORATION, SWANN SECURITY, AIPHONE CORPORATION, COMMEND INTERNATIONAL GMBH, ENTRYVUE USA INC., GODREJ INDUSTRIES LIMITED, FERMAX , OPTEX (EUROPE) LTD., SERIOUS SECURITY PTY LTD., SMARTWARES SECURITY, SVAT ELECTRONICS AND VANTAGE SECURITY, amongst others.
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