The Video Intercom Devices and Equipment market is expected to reach $4,867.41 million by 2023 at a CAGR of 8.3%
Video Intercom Devices and Equipment Market (2015 - 2023)”
Americas dominates the Video Intercom Devices and Equipment Market
Americas has a major share in the Video Intercom Devices and Equipment Market during the forecast period. It is expected to reach $1,996.92 million by 2023 at a CAGR of 8.3%. The US stands first in surveillance automation with large scale employment in the commercial sector. Growing government regulations and increasing preferences towards digital systems will drive the market growth in Latin America. The US will have a faster growth when compared to other countries in the future. Video surveillance and communication are present in sectors such as banking, retail, manufacturing, media & entertainment. Europe will generate revenue of $1,180.37 million by 2023 at CAGR of 6.2%. The demand for the intercom system in residential buildings is growing in Europe.
Asia Pacific is expected to generate revenue of $1,236.48 million at a CAGR of 12.9%. In this region, there are many facilities such as schools, colleges, hospitals, and police stations that benefit from video intercom devices. The growing construction sector will also drive the demand for video intercom devices in Asia Pacific.
Excerpts on Market Growth Factors
- Increasing concerns for home security and growing crime rate will propel the growth of the video intercom.
- Growing demand for IP integrated video intercom devices in retail, commercial, and residential buildings enhances the demand for video intercom devices and equipment.
- Video intercom devices can be used at airports for internal communication and video surveillance.
Key players of the Video Intercom Devices and Equipment Market
Panasonic, Honeywell International, and Samsung are the key players of the Video Intercom Devices and Equipment Market. Panasonic offers electronic and non-electronic products. It has become the fourth largest television manufacturer. Honeywell International is an American company that produces consumer products and delvers engineering services. Samsung, a South Korean manufactures electronics such as mobile phones and semiconductors.
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