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Video intercom device market forecast to 2022 examined in new market research report

Video intercom device market forecast to 2022 examined in new market research report

The need for video intercom accessories in residential and commercial buildings is rising over the years, which absolutely drives the market for the same. Although the residential applications are projected to rise, commercial applications will be rapidly escalating with ameliorating economies that lead to additional funds from the private sector and thus show the fastest growth during the forecast period.

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As per Future Market Insights Opportunity Assessment, revenue from the global video intercom device market is expected to increase from more than US$ 15.1 Bn in 2017 to about US$ 54.3 Bn by 2027 end, representing a CAGR of 13.2% from 2017 to 2027. The global market is expected to represent incremental opportunity of about US$ 38.6 Bn between 2017 and 2027.

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Government applications are expected to show slow progress due to the austerity acts being forced for cost cutting, especially in regions such as Europe.

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Market for video surveillance systems is led by APAC, followed by America and Europe. The global video surveillance systems market is forecasted to grow at over XX% due to the growing necessity for observation in many public places along with residential areas all over the world.

The technological developments such as increase in combination with building automation and the change in direction of customers towards the portable video intercom devices are accountable for the shift from audio to video door phones or video intercom devices. The introduction of low-priced Chinese audio intercom devices is pushing the manufacturers all over the world to support more video intercom solutions in order to meet with the fierce competition, thus backing the market growth.

There is a low penetration of video intercom in some developing economies. This is expected to offer potential market opportunities for key players in the video intercom device market.

For instance, in MEA and Latin America, there is low adoption of video intercom devices as compared to other regions. In these regions, currently, only real estate developers and a few commercial places are installing video intercom devices in tier 1 and some tier 2 cities.

Hence, there is significant growth opportunity for key market players to expand their presence in the above mentioned regions.

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