2024 Video Intercom Devices Market Report: Size, Share, and Forecast to 2033

The Business Research Company recently released a comprehensive report on the Global Video Intercom Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The video intercom devices market size has grown rapidly in recent years. It will grow from $28.19 billion in 2023 to $32.66 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to increasing security concerns, growing urbanization, rising disposable incomes, growing demand for smart homes and enhanced building infrastructure.

The video intercom devices market size is expected to see rapid growth in the next few years. It will grow to $59.55 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to the increasing adoption of smart home devices, rise in residential and commercial construction, growing awareness of safety and security, increasing investment in the smart building and smart homes, growing demand for video surveillance or security equipment and expanding urban population. Major trends in the forecast period include integration with smart home systems, adoption of wireless and IoT connectivity, growing demand for high-definition video resolution, adoption of cloud-based video intercom systems, increasing adoption of voice-activated controls.

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Market Drivers and Trends:

The rising demand for security and surveillance is expected to propel the growth of the video intercom device market going forward. Security and surveillance refer to the measures and systems employed to monitor, detect, and respond to potential threats and unauthorized activities, such as robbery and safety concerns, in various environments. The demand for security and surveillance is increasing due to increasing crime rates, terrorism and global threats, urbanization and population growth, cybersecurity threats, and enhancing public safety. Video intercom systems contribute significantly to security and surveillance by providing visual verification, access control, remote monitoring, and integration capabilities, improving the safety and protection of residential, commercial, and institutional premises. For instance, in October 2023, according to the Office for National Statistics, a UK-based non-ministerial department, UK police recorded robberies reaching 77,337 incidents in 2023, compared to 69,432 incidents in 2022. Therefore, the rising demand for security and surveillance is driving the growth of the video intercom device market.

Major companies operating in the video intercom device market focus on developing advanced products, such as the preprogrammed box set with video intercom system, to streamline installation processes and enhance user convenience. A preprogrammed box set with a video intercom system is an all-in-one, ready-to-install package with preconfigured monitors, cameras, and wiring for seamless setup. For instance, in April 2023, AiPhone Co. Ltd., a US-based international intercom and security communication product manufacturer, launched the IX Series kit, a preprogrammed and preassembled box set with a video intercom system ready to install. The IX Series is a network-based communication and security system featuring video entry security, internal communication, emergency stations, and paging. Key features include video entry, access control, integration with IP cameras and access control systems, and mobile app integration. The IX Series kit is aimed at installers transitioning from traditional analogy-based intercom systems to IP-based video intercom systems.

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Major Key Players of the Market:

Apple Inc., Samsung Electronics Co. Ltd., Panasonic Corporation, Honeywell International Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Legrand, Dahua Technology, VTech Communications Inc., Axis Communications AB, Snap One LLC, URMET S.p.A., Ring LLC, Grandstream Networks Inc., Siedle, Zenitel, Bosch Security Systems, ButterflyMX Inc., 2N, FERMAX, Comelit Group S.p.A., Bird Home Automation GmbH, CyberData Corporation, Alpha Communications

Video Intercom Devices Market 2024 Key Insights:

• The video intercom devices market size is expected to see rapid growth in the next few years. It will grow to $59.55 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%.
• Growing Demand For Security And Surveillance Fuels Video Intercom Device Market Expansion
• Innovative Advances In Video Intercom Devices
• North America was the largest region in the video intercom devices market in 2023

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