Between 2017 and 2027, the global video intercom device market is predicted to grow at a CAGR of 13.1%, with North America, Western Europe, and APEJ accounting for significant market shares by the end of the forecast period.
In its study “Video Intercom Device Industry: Worldwide Industry Analysis 2012–2016 and Opportunity Assessment, 2017–2027,” FMI provides vital insights into the global video intercom device market. The global video intercom device market is predicted to increase at a CAGR of 13.1% in terms of value from 2017 to 2027, making it a promising investment opportunity.
Market Dynamics Affecting Revenue Growth for Video Intercom Devices
The use of video intercom devices has risen dramatically in recent years, particularly in the residential market. Manufacturers of video intercom equipment intend to lower both the total and installation costs. Aside from building and societal security infrastructure, video intercom systems are used to monitor babies, easing parenting by providing information about the baby’s daily activities.
Over the forecast period, the door/entrance system sector of the global video intercom device market is predicted to develop significantly. Even if the user is not present at the premise, the system provides an alarm signal to the user regarding the entry and leave of a known or unknown person, which is the primary element driving demand for door/entrance systems.
The market for Video Intercom Devices: A Competitive Analysis
According to FMI’s estimate, makers of video intercom devices will be able to boost their profits in the video intercom device market by integrating modern technologies and improving functionality. 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. are some of the main players in the worldwide video intercom device market.