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The video intercom device industry is experiencing strong growth with increasing demand in the security and surveillance sector due to evolving hardware and software innovations.
NEWARK, Del., Oct. 26, 2023 (GLOBE NEWSWIRE) — According to a Future Market Insights (FMI) report, the market for video intercom devices was estimated to be valuable. US$32,780.7 million In 2022. It is anticipated that the industry will be evaluated US$37,020.3 million Video intercom device market is going to expand by 2023 13.2% CAGR During the forecast period, the valuation reached US$128,200.0 million Till 2033.
With a focus on convenience and sophisticated video surveillance, the market is expected to grow as new infrastructure is being built in residential and commercial environments. For example, since security is one of their top objectives, data centers are expected to grow and as a result, the demand for these devices will increase.
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Key findings from the market analysis:
During the forecast period, the video intercom device industry in the United States will grow rapidly 4.5% CAGR,
From 2023 to 2033, Canada video intercom device industry is expected to expand 4.2% CAGR,
Sales of video intercom devices are projected to increase in the United Kingdom 5.5% CAGR During the estimated year.
From 2023 to 2033, the video intercom device market in France is expected to grow by 5.8% CAGR,
During the projected period, the China video intercom device industry is expected to expand at the rate of 18.9% CAGR,
In 2023, the market share of baby monitoring devices is projected to reach 43.5%,
The IP-based technology category is responsible for 53.5% of the worldwide market in 2023.
“The increasing demand for these devices for monitoring and security purposes at entry-exit points of workplaces, societies and buildings is projected to drive market expansion during the forecast period.” Opinion of Sudip Saha, Managing Director and Co-Founder, Future Market Insights (FMI).
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The market for video intercom equipment has become increasingly fragmented due to the presence of many local businesses. Top companies have also used various strategies such as collaborations, agreements, acquisitions, joint ventures, product launches and expansions to increase their market share.
To increase profitability, leading global video intercom device companies are incorporating essential technologies such as facial recognition and holistic artificial intelligence (AI).
Major players in the video intercom devices market are:
Godrej Industries Limited
Comelit Group S.p.A.
Dahua Technologies Co., Ltd.
Hangzhou Hikvision Digital Technology Co., Ltd.
In 2022, ASSA ABLOY acquired the developers of Doorbird. ASSA ABLOY Group has purchased 100% of the assets in Bird Home Automation GmbH, manufacturer of the Doorbird video doorbell. According to ASSA ABLOY, the purchase of Doorbird will strengthen its portfolio of IP door intercoms and offer complementary expansion possibilities.
In 2022, Ring unveiled its latest device, which upgrades apartment intercoms to smart ones. The Ring Intercom is a self-built retrofit device that allows customers to connect to their home intercom and then use Wi-Fi to access the Ring application on their smartphone. It is primarily for use in European residential complexes in which several flats (or apartments) share a single access point and an audio intercom system.
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More valuable information is available:
Future Market Insights provides an unbiased analysis of the Video Intercom Device market, providing historical data for 2018 to 2022 and forecast figures for 2023 to 2033.
To understand the opportunities in the video intercom device industry, the market has been segmented based on product (baby monitoring systems, handheld devices, door/entry systems), technology (IP-based, analog-based), vertical (government, residential) Has gone. Commercial) and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa (MEA)).
Video Intercom Device Industry Segmentation Analysis:
baby monitoring system
South Asia and Pacific
Middle East and Africa
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About the technology team at Future Market Insights:
The technology domain of Future Market Insights provides expert analysis, time-efficient research and strategic recommendations with the aim of providing authentic insights and accurate results to help clients across the globe. With a repository of over 100+ reports and 1 billion+ data points, the team has been clearly analyzing markets across 50+ countries for over a decade. The team provides a concise analysis on key trends including the competitive landscape, profit margins and research development efforts.
Sudeep Saha is the Managing Director and Co-Founder of Future Market Insights, an award-winning market research and consulting firm. Sudeep is committed to shaping the market research industry with trusted solutions and continues to be the subject of media attention with his thought leadership. His vast experience in market research and project management across various regions in APAC, EMEA and the Americas reflects his growth-oriented approach towards clients.
He is a firm believer and proponent of innovation-based solutions, with an emphasis on customized solutions to meet the requirements of one client at a time. His vision and visionary approach recently saw him recognized as a ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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