Video Intercom Devices And Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Video Intercom Devices And Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Video Intercom Devices And Equipment Market size is estimated at USD 45.79 billion in 2024, and is expected to reach USD 76.86 billion by 2029, growing at a CAGR of 10.91% during the forecast period (2024-2029).

Key Highlights

• The increasing demand for video intercom devices in the security and surveillance industries will likely drive market expansion during the forecast period. Video intercom systems are commonly used as audiovisual communication systems at entry-exit points of offices, organizations, and buildings, among other places.
• Globally, smart cities are growing as urbanization picks up speed. According to the United Nations, India (404 million), China (292 million), and Nigeria will each have an extra 212 million urban dwellers by 2050. The highest pace of urbanization is observed in the emerging continent of Latin America, which would drive the demand for smart buildings and proportionately drive the need in the market.
• Globally, many smart city projects and efforts are being implemented, encouraging global investments owing to urbanization. The OECD (Organization for Economic Co-operation and Development) predicts that between 2010 and 2030, worldwide investments in smart city initiatives will total around USD 1.8 trillion for all metropolitan city infrastructure projects. Such a rise in smart cities would allow the market to grow.
• Incorporating new technologies in video intercom devices is expected to drive the market. For example, with AI, video intercom devices can have facial recognition, voice recognition, and behavior analysis features. Also, AI-powered intercom devices can utilize natural language processing and machine learning to improve communication. They can understand and respond to voice commands, providing a smoother user experience. These devices also learn from user interaction, adapting to preferences and making more accurate predictions and suggestions.
• Technological advancement has led to the adoption of video intercom systems as organizations in the commercial sector are looking for sophistication in terms of security features and ease of convenience. In the residential segment, the rise of smart homes has largely impacted the need for innovative technological prowess in the devices and equipment to provide a unified and smart security system. Technological advancements can be seen in the newly launched products for both sectors. The focus on high-quality video, audio, and vandalism-resistant products is gaining significant traction.
• Also, as new infrastructure comes up in the residential and commercial sectors, the high focus on advanced video surveillance alongside the ease of convenience is anticipated to drive the market's growth. Data centers, for instance, are expected to witness high growth rates since security is one of their primary concerns.
• Also, the market is anticipated to benefit greatly from the expanding popularity of smart homes. Various government initiatives to create smart cities are also anticipated to fuel market growth. The market is expanding due to the introduction of sophisticated security audiovisual systems that offer offices and residential buildings a higher level of security.
• The extremely high rate of hacking poses a barrier to the industry being researched because people are concerned about how it may affect the security and safety of homes and businesses. In addition, compromising network security exposes the infrastructure's overall security. However, tight security regulations and developments are anticipated to alleviate the issues brought on by the worry about hacking.

Video Intercom Devices Market Trends

The Commercial Segment is Expected to Hold the Significant Share

• The commercial segment includes office structures that may house numerous organizations. These buildings have video intercom systems installed at the entrance and departure points to prevent unauthorized persons from entering and to permit access to those who are needed. Additionally, delivery employees can enter offices via video intercom systems without requiring permission at entry points.
• Buildings with several blocks hosting more than one business are the ideal target areas for video intercom devices and equipment. As the market progresses from analog to IP, IP-based solutions are anticipated to gain significant traction. Commercial spaces are noted to be moving away from aging access control systems and outdated two-wire analog cabling. Such factors are anticipated to drive the market's growth in this segment.
• Countries in the region have experienced strong growth and are expected to create significant opportunities to adopt video intercom systems during the forecast period. Coupled with the expansion of the overall commercial real estate sector, the emergence of smart buildings defines the region. Several countries in the region are marked with smart building projects anticipated to drive the adoption of IP video intercoms as these systems become an integral part of office security solutions.
• For commercial interests, security issues have spread to more areas. The adoption of IP video intercom services is directly related to the increased demand for video surveillance at entry and exit points to prevent physical breaches, where non-contact access control has gained traction, parking lots, and the transportation sector to maximize visibility and communication.
• In commercial structures, the IP video intercom system is becoming increasingly common. The IP video intercom also has extra features like mobile app control and the ability to integrate CCTV systems. Products with capabilities like remote alerts and notifications that are delivered right to phones and PCs are also available from market sellers.
• Moreover, the proliferation of smart cities and smart homes is also emerging as a major driver for the demand for video intercom systems. Further, developing smart buildings and expanding the commercial real estate market is expected to accelerate the use of IP video intercoms as these systems become a crucial component of office security solutions. According to the National Association of Realtors, in 2023, the costs of features related to smart and connected buildings were 44% among real estate clients in the US Renewable energy systems.

North America Accounts for a Significant Market Share

• North America is a significant shareholder in the video intercom devices market, owing to its strong position in the smart city trend and the presence of criminal offenses, which continues to drive the adoption of intercom systems. North America is primarily organized, and the residential sector significantly contributes to income creation. The market expansion in North America has been aided by the robust home automation sector and rising spending on security systems.
• Local governments are implementing numerous smart city initiatives nationwide to enhance services and open up new opportunities by adopting more advanced technologies. Schenectady, New York, Miramar, Florida, and Brownsville, Texas, are interesting smart city initiatives. Such projects are expected to drive the market.
• The region's video surveillance market is growing due to increased investment. Additionally, for security purposes, governments all around the region are increasing their spending on video monitoring programs. Due to the fast-rising demand from the United States, Canada, and other countries, the region is experiencing massive expansion in adopting video surveillance systems.
• The government funding program for the region is mainly concerned with cross-sectoral projects that will improve the livability and prosperity of the cities and that other municipalities in the region will later adapt. Due to this increased expenditure, the government and commercial sectors are anticipated to embrace smart buildings, generating a supplementary market for advanced video intercom systems.

Video Intercom Devices Industry Overview

The video intercom devices and equipment market is highly fragmented due to the presence of both global players and small and medium-sized enterprises. Some of the major players in the market are Hangzhou Hikvision Digital Technology Co. Ltd, Samsung Electronics Co. Ltd, Comelit Group SpA, Siedle & Sohne OHG, and Legrand Holding Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

• November 2023 - Hikvision announced the launch of a new 2-wire HD intercom solution tailored for apartments. With a focus on increased image quality and intuitive features, the solution supports seamless and efficient communications between residents and visitors.
• November 2023 - ButterflyMX revealed its next-generation 8-inch and 12-inch video intercom systems for multifamily, gated communities, student housing, and commercial properties. ButterflyMX's video intercom system instantly transforms the property access experience for the staff, residents, visitors, and service providers while setting a new design standard for all access control products. When paired with the ButterflyMX ecosystem of property-wide access control products, including its access control system, package room, elevator controls, vehicle access, and smart lock integrations, users can streamline access from the entryway to every door, gate, and elevator throughout the building.

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