The increasing demand for security and monitoring is providing new opportunities to the global video intercom devices market
Covid-19 Impact & Market Status
COVID-19 had severely affected all the companies related to the production and manufacturing of different hardware components. Due to lockdown, laborers were not able to travel, hence, all the work had to be paused because of the unavailability of the workforce and required resources. This shortage of infrastructure and transportation made various companies pause the work causing them a high loss. With this, the global video intercom devices market had to face a downward graph and its market value got decreased as there was no service available for maintenance and production of the video intercom devices.
The global Video Intercom Devices market size is expected to reach close to $3.8 billion by 2029 with an annualized growth rate of 7.9 % through the projected period.
After the lockdown was over, many potential companies tried to regain their market value and increase the overall CAGR of the global video intercom devices market by upgrading and enhancing the features of the video intercom devices.
The IP-based video intercom devices are in high demand and are expected to increase the overall CAGR of the global video intercom devices market.
The IP-based video intercom devices are expected to increase the overall CAGR and market value of the global video intercom devices by upgrading and enhancing the service provided by the video intercom devices market. For this, many potential companies are trying their best to integrate the hardware and software components in such a way that the quality will improve and the supply cost will decrease. This will help in increasing the potential market of video intercom devices as the number of capable buyers will increase. Hence, this will help in improving the market value of the video intercom devices by enhancing and improving the networking and security criteria.
The IP-based video intercom devices are highly in demand as they can be connected with various other hardware and software components and can be used as an internal part of the data warehouse systems that can store huge amounts of data without any data loss. They can also be integrated with the cloud platforms to ensure the speed of data delivery without any delay or interruption.
The increased development and advancement of science and technology are driving the growth and use of the video intercom devices market in various domains.
With the increase in technology and development of IT industries, there is an increase in hardware and software components that require regular monitoring for their security. This requirement demands a device that can monitor the resources and workers so that their activities can be regularly checked and kept updated. This will keep the companies updated about their resources and aid in security management. The video intercom devices can be plugged in with microphones that enable voice recording along with video capturing, in this way, a proper and completed security check, and monitoring facility is enabled. Apart from security checks, they are used to monitor a patient remotely and diagnose the patient. It helps in connecting several patients with doctors or consultants who can’t reach each other, hence, these devices have proven to be of great use.
These devices help the education sector to help the students understand the networking and security sectors. This helps engineers and other developers to understand the basic functionalities of these devices and the features required to build them. In this way, a developer can enhance the architecture of such devices and build a new version that will have advanced features and wide applications. With this, the video intercom devices can also be fitted with mobile devices like drones and this will widen their scope of usage. In this way, they can be used for monitoring and controlling traffic and help in the regulation of traffic rules and laws. This will ensure proper traffic control and help in security checks at various suspected areas. Hence, it can help the police and law committees to do their work.
These are widely used as door security entry systems that can be installed in the entrance doors of homes and this helps in security checks. In this way, people can know who is outside their home and keep themselves safe from robbery or other such harmful events. These door security devices are in high demand in urban areas. In cities, the cases of robbery and murders are rising, this has increased the demand for devices that enable people to monitor and secure their homes. In this way, such events can be prevented to a large extent. These devices are highly based on hardware and software components that are integrated to provide them with efficient networking based on the topology where they are being used. Hence, before installing them outside doors or in any room, they need a proper IP address for their connectivity and monitoring. They are based on IP addresses that help to link them with another hardware device where all the data is stored and checked by the responsible person or authority.
The video intercom devices also help investigating and crime branches like CID while they investigate their cases as these devices have large storage and resolution capacities that help them to get connected with the cloud also. In this way, these can be used by large enterprises for their data security and data warehouse connectivity. Apart from their use in various companies, these video intercom devices can also be used by people o monitor their babies and ensure their security. Hence, it has wide applications ranging from industry level to personal level.
The major restriction in expanding the global video intercom devices market is the high cost and advanced technical stack required. To integrate and build these devices highly skilled laborers are required who can build and maintain these devices. The components, including software architecture, required for these devices are costly and require high maintenance. Hence, if any fault occurs or the device breaks, the repairing and maintenance charges of the video intercom devices will be very high, hence, many people can’t afford them.
The major players of the global video intercom devices market are Honeywell International Inc., Aiphone Corporation, Dahua Technology Co. Ltd., Panasonic Corporation, Alpha Communications, Comelit Groups, Godrej Industries Ltd., Siedle & Sohne OHG, Legrand, and Samsung Electronics Co. Ltd.
Latest Innovations in the Global Video Intercom Devices Market: a Snapshot
- In a recent development, Hikvision has entered into a collaborative partnership with Yeastar whose core competency lies in video intercom integration. Hikvision is identified for its excellent IoT solutions. The development is expected to improve video intercom devices solutions to support productivity in SMEs for remote management of intercom systems and communication.
Video Intercom Devices Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||$3.8 billion|
|Growth Rate||CAGR of 7.9% during 2021-2028|
|Segment Covered||By Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Panasonic Corporation,Legrand S.A.,Tata Consultancy Services Ltd.,Canon, Inc.,TOA Corporation,Fermax Electrónica, S.A.U.,Commend International GmbH,Comelit Group S.p.A.,Aiphone Co., Ltd.,Barix AG|
Key Segments of the Global Video Intercom Devices Market
Type Overview, 2018-2028 (USD Billion)
- Door Entry Systems
- Handheld Devices
- Video Baby Monitors
Access Control Overview, 2018-2028 (USD Billion)
- Fingerprint Readers
- Password Access
- Proximity Cards
- Wireless Access
System Overview, 2018-2028 (USD Billion)
Technology Overview, 2018-2028 (USD Billion)
End-User Type Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa