Consumer Behavior and Market Preferences in Video Intercom Devices

According to projections, the worldwide video intercom device market is expected to develop at a fantastic CAGR of 13.1% from 2017 to 2027, when it is valued at US$ 53807.51 million. The target market, which was valued at US$ 15711.6 million in 2017, is expected to increase significantly over time. Throughout the projected period, the market for video intercom devices is expected to develop due to reasons such as the growing demand to monitor trespassing, maintain property safety, and improve communication with guests.

Video intercom devices are defined as intercom devices that have a video approach. These are standalone intercom systems with access control that are used to handle calls placed at the building entry.The assortment of applications for video intercom devices and equipment has ensured better security and comfort in commercial, residential, and industrial spaces.

The video intercom devices not only serve communication needs but also offer a wide variety of different features such as improved IP-based networking, multi-site communication, and mobile video app for door intercom. These features are very attractive for consumers who are in the market for a video intercom device system.

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Again, for consumers who already use the product, many market players are offering product upgradation with smart and intelligent features. Such developments with regard to the residential and commercial verticals are expected to have a positive influence on the global video intercom device market during the projected period.

With markets and customers guided by intercom products continuing to transform with modernized needs that require new-age solutions, intercom manufacturers are constantly surveying the market and developing new and innovative solutions to meet the growing needs of the modern consumer. Moreover, modifications in hardware and software are changing and giving rise to new trends within the video intercom devices market. All of these considerations are expected to propel the target market during the forecast period.

“Rising popularity of smart video intercom devices, heightened demand from the residential sector, and the growing concern for personal and property security stimulate the global growth of the video intercom device market over the forecast period,” says an FMI analyst.

Key Takeaways:

Rising adoption of smart home ecosystems will strengthen market prospects.
The video intercom devices market in North America will dominate the global space.
Eastern Europe video intercom devices market will present several incremental opportunities
India and China will make significant contributions to the Asia Pacific (Excluding Japan) market.
By product type, door/ entrance system segment will observe higher growth during this period of observation.
By vertical, the residential segment will lead the market growth during the assessment period.

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Competitive Landscape

Panasonic Corporation, Honeywell Security, LEGRAND, Godrej Industries Limited, Zicom, Zenitel, Aiphone Corporation, Comelit Group S.P.A., Dahua Technologies Co. Ltd., and Hangzhou Hikvision Digital Technology Co. Ltd., among others are some of the major players in the video intercom device market profiled in the full version of the report.

Leading market players are focusing on offering upgraded and innovative features with the help of advanced technologies to expand their consumer base. These organizations are keen on product innovations, strategic partnerships and collaborations to strengthen their market position.

More Insights into Video Intercom Device Market Report

In its latest report, FMI offers an unbiased analysis of the global video intercom device market, providing historical data and forecast statistics for 2017 to 2027. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (baby monitoring system, handheld device, door/ entrance systems), technology (IP-based, analog-based), vertical (government, residential, commercial, manufacturing/ industrial), and region.

According to the latest FMI reports, based on segmentation, the residential vertical segment followed by the government segment is expected to perform well over the forecast period. Concerns for family and property security is driving the growth of the door/ entrance segment which is expected to significantly contribute to the overall market growth.

Based on region, the video intercom device market in North America will display remarkable growth over the forecast period. This region accounts for a major portion of the target market share, generating a considerable incremental opportunity during this period of observation.

This growth can be attributed to a heightened demand for the target product from the residential sector. North America is closely followed by Eastern Europe in terms of revenue generation owing to the rising popularity of smart video intercom devices.

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Key Segments Covered

Product