June 08, 2020
According to the research report titled ‘Global Video Intercom Devices and Equipment Market Size study with COVID-19 impact, by Type (Door Station, Video Intercom Master, Indoor Units), by System (Wired Systems, Wireless Systems), by Component (Cameras, Sensors, LED/LCD, Others), by Application (Residential, Public Use, Industrial Use, Government, Healthcare, Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global video intercom devices and equipment market was worth USD 20 Billion in 2019 and is expected to witness a CAGR of 12.9% through 2026.
Video intercom system is a stand-alone intercom device used to manage calls made at the entrance of a building or home with access controlled by both audio and video communication between the guest and the resident. The main feature of the video intercom device is that it enables the user to view the visitor, engage in a conversation, and allow access to the visitor if the resident wants to.
The broad plethora of applications for video intercom devices & equipment have enhanced comfort and security in industrial, commercial, and residential spaces. Owing to the rising concerns of home security, smart city initiatives, and urbanization developing economies, the global video intercom devices and equipment market is expected to record a strong CAGR over the estimated timeframe.
As per the United Nations Department of Economic and Social Affairs in the year 2018, 55% of the total population of the world lived in urban area which is anticipated to increase to 68% by 2050. The most urbanized regions include Latin America & the Caribbean, North America, Europe, and Oceanic. This is likely to stimulate the demand for video devices and equipment, which in turn will boost the growth of the market, claims the study.
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On the other hand, COVID-19 is expected to have a negative impact on the global video intercom devices and equipment market as China being one of the major suppliers of the raw materials needed to produces these devices and also of the finished good. The industry is predicted to witness price fluctuations, disruption in supply, and a reduced production over the future. Therefore, the sales amassed by the leading manufacturers of video intercom and equipment might impact the market growth substantially in the coming years. Also, the high initial investments and cost of maintenance may hinder the market growth over 2020-2026.
Based on type, the market is classified into Indoor Units, Video Intercom Master, and Door Station. In terms of system, the global market is spilt into wired and wireless systems. As per component, the global market is segmented into LCD/LED, Cameras, Sensors, and others.
From the regional point of view, the key regions include Latin America, Europe, North America, and Asia-Pacific. Among these regions, North America has a high market share pertaining to the presence of large number of market players as well as high demand of video intercom devices.
The leading organizations in global video intercom devices and equipment market are Aurine Technology, COMMAX, Urmet, TCS, Samsung, Fermax, Legrand, Entryvue, Honeywell, Panasonic, and Aiphone among others.