The video intercom device market size was projected to be USD 32,780.7 million in 2022. By the end of 2023, the industry is likely to reach a valuation of USD 37,020.3 million. During the forecast period, the industry for video intercom device is expected to garner a 13.2% CAGR and reach a size USD 128,200.0 million by 2033.
Key industry Trends and Highlights
| Attributes | Details |
|---|---|
| Estimated Market Value in 2022 | USD 32,780.7 million |
| Expected Market Value in 2023 | USD 37,020.3 million |
| Expected Market Value in 2033 | USD 128,200.0 million |
| Value based CAGR from 2023 to 2033 | 13.2% |
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| Report Attributes | Details |
|---|---|
| Market value in 2022 | USD 32,780.7 million |
| Expected Value in 2023 | USD 37,020.3 million |
An increase in demand resulted from metropolitan regions experiencing rapid urbanization and the development of high-rise structures and apartment complexes. To regulate access and security, traditional doorbell systems must be improved in these high-density living areas. Video intercom systems are vital. Thanks to this urban tendency, the market expanded as more individuals installed video intercom device in their homes and places of business.
Rapid technological developments have increased the accessibility and consumer attractiveness of video intercom device. These developments include better camera quality, increased connection, and integration with smart home systems. The consumer trend for modern, effective, and feature rich products led to market expansion due to this invention.
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The table below lists the top five nations expected to experience prominent growth during the forecast period. China and France are predicted to have the maximum development among these nations.
Forecast CAGRs from 2023 to 2033
| Countries | CAGR from 2023 to 2033 |
|---|---|
| The United States | 4.5% |
| Canada | 4.2% |
| The United Kingdom | 5.5% |
| France | 5.8% |
| China | 18.9% |
The United States market for video intercom device is likely to garner a 4.5% CAGR during the forecast period. The need for video intercom system is being driven by the increase in remote work along with the desire for integration with smart homes. Homeowners in the United States are using these gadgets more frequently to manage integrated platforms, improve home security, and regulate access remotely.
In the United States, there is a growing need for video intercom system due to the abundance of multifamily homes and condominiums in metropolitan areas. These gadgets are used by residents of shared living spaces for improved communication within the building and safe guest entry.
The video intercom device market in Canada is poised to expand at a 4.2% CAGR from 2023 to 2033. Home automation and security are top priorities for Canadians. Since video intercom systems offer a safe way to verify visitors and may be integrated with home automation systems for increased convenience and security, they are in great demand.
The regional aging population is driving the need for video intercoms that help with elder care. These technologies provide families peace of mind and guarantee the wellbeing of aging family members by enabling remote monitoring and communication.
The United Kingdom market for video intercom device is poised to develop at a 5.5% CAGR during the forecast period. Growing urbanization and high density living situations in the United Kingdom have raised questions about security. In apartment complexes and urban homes, video intercoms are highly sought after since they make it easy for tenants to manage entry and verify guests.
The regional emphasis on sustainability and energy efficiency drives the demand for video intercom system with integrated energy saving capabilities. These technologies improve security while assisting homes in using less energy.
The France market for video intercom device is likely to expand at a 5.8% CAGR from 2023 to 2033. There is a need for more security and privacy in various metropolitan regions in France. Video intercom system are preferred for access control and guest verification, especially in apartment buildings and communal metropolitan areas.
The aging population in France, like that of Canada, is driving rising demand for video intercom system that facilitate senior care. These gadgets improve the well being of the elderly and enable communication with them.
The China video intercom device market is poised to expand at an 18.9% CAGR during the forecast period. To provide safe and adequate access control, video intercom device are becoming increasingly popular in China due to the rapid urbanization and high concentration of apartment complexes in China.
Video intercom device are among the smart building technologies encouraged by the smart city programs in China. These gadgets provide contemporary, secure entry options in line with the nation's ambitions for urban development.
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The table below highlights how baby monitoring devices are projected to take up a significant global market share by product type. The IP based technology is likely to garner the dominant market share in 2023.
| Category | Market Share in 2023 |
|---|---|
| Baby monitoring devices | 43.5% |
| IP based technology | 53.5% |
The baby monitoring device segment is expected to acquire a market share of 43.5% in 2023. Parents and other caregivers look for baby monitoring devices to protect their children and keep them secure.
Real time data regarding the movements, sleep, and surroundings of the child are provided by these systems, giving parents peace of mind and enabling them to act swiftly in the event of any possible problems.
Baby monitoring systems have become more accessible and convenient due to the integration of modern technology, such as Wi Fi connectivity, high definition cameras, smartphone apps, and two way audio communication. This has increased demand from tech savvy parents searching for cutting edge ways to keep an eye on their kids.
Based on the technology, the IP based segment is anticipated to take up a significant global market share. In 2023, the IP based technology segment acquired 53.5% market share.
Systems based on IP are easily scalable and adaptable to changing requirements. They work effectively in both business and residential settings. By adding more devices or combining them with other security as well as communication systems, companies, and homeowners may extend or change their systems.
Video intercom system may be accessed remotely from desktops, laptops, tablets, and smartphones using IP technology. By enabling people to communicate with guests or keep an eye on the property from anywhere, this connectivity improves security while also providing convenience.
IP systems may also be combined with other IP based home automation and security systems to form an extensive and networked security ecosystem. These IP based video intercom device are being adopted due to their flexibility and connection.
The existence of several local companies has led the market for video intercom device to become more fragmented. To expand their presence in this market, the leading businesses have also employed various tactics, including acquisitions, joint ventures, partnerships, agreements, the introduction of new products, and expansions.
The combination of comprehensive artificial intelligence (AI) and facial recognition capabilities is one crucial technology that significant global video intercom device market companies are implementing to increase profitability. Video intercoms with AI capabilities can offer more security features like authorized person identification, suspicious activity detection, and convenience for the user. Customers will find the gadgets more desirable, and businesses will be able to charge higher fees and provide value added services.
AI powered analytics have the potential to produce insightful data that enhances user experiences as well as system performance, which will eventually boost market profitability for video intercom device.Some of the prominent developments by the important companies in this domain are given below.
| Company | Key Developments |
|---|---|
| Hikvision |
|
| Dahua Technology |
|
| Attribute | Details |
|---|---|
| Projected market value in 2023 | USD 37,020.3 million |
| Projected market value in 2033 | USD 128,200.0 million |
| Forecast CAGR from 2023 to 2033 | 13.2% |
| Forecast period | 2023 to 2033 |
| Historical period | 2018 to 2022 |
| Market analysis | Value in USD million |
| Key regions covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key countries profiled |
The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key market segments |
Product, Technology, Vertical, Region |
| Key companies profiled |
Panasonic Corporation; Honeywell Security; LEGRAND; Godrej Industries Limited; Zicom; Zenitel; Aiphone Corporation; Comelit Group S.P.A.; Dahua Technologies Co. Ltd.; Hangzhou Hikvision Digital Technology Co. Ltd. |
The global video intercom device market is expected to reach USD 37,020.3 million by 2023.
The global video intercom device market is set to expand by a CAGR of 13.2% by 2033.
The global video intercom device market is forecast to reach USD 1,28,200.0 million by 2033.
The baby monitoring devices are projected to attain a 43.5% share in 2023.
The IP based technology is likely to acquire a 53.50% share in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Baby Monitoring System 5.2. Handheld Device 5.3. Door/Entrance System 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 6.1. IP-based 6.2. Analog-based 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 7.1. Government 7.2. Residential 7.3. Commercial 7.4. Manufacturing/Industrial 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Panasonic Corporation 18.2. Honeywell Security 18.3. LEGRAND SA 18.4. Godrej Industries Limited 18.5. Zicom 18.6. Zenitel 18.7. Aiphone Corporation 18.8. Comelit Group S.P.A. 18.9. Dahua Technologies Co. Ltd. 18.10. Hangzhou Hikvision Digital Technology Co. Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
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Video Intercom Device Market
