Overview and Scope
An intercom system is a closed-circuit voice communication system device that allows people to communicate with one another in two ways.
Sizing and Forecast
The intercoms systems and equipment market size has grown strongly in recent years. It will grow from $3.51 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to security concerns, commercial and residential construction, industrial expansion, government regulations, increasing urbanization.
The intercoms systems and equipment market size is expected to see strong growth in the next few years. It will grow to $5.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to smart building trends, health and safety compliance, remote working and virtual communication, education sector growth, hospitality industry requirements. Major trends in the forecast period include voice recognition technology, increased focus on cybersecurity, remote work solutions, ai and automation integration, customization and personalization.
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Segmentation & Regional Insights
The intercoms systems and equipment market covered in this report is segmented –
1) By Product Type: Audio, Video
2) By Technology: IP Based, Analog Based
3) By End-User: Government, Residential, Commercial
The Asia-Pacific was the largest region in the intercoms systems and equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global intercoms systems and equipment market analysis report during the forecast period. The regions covered in the intercoms systems and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Use of IoT based intercom systems is projected to drive the market. IoT based intercom system is the use of internet with key areas of networking through platforms and middleware, which has network connectivity that will allow intercom systems to send and receive data through the use of embedded sensors, actuators, and other devices. The rising adoption of IoT technologies is expected to drive the demand for intercom devices globally. For instance, in June 2021, Fermax, a Spain-based door control, video door control, digital audio and video communications systems, and access control equipment manufacturer, has introduced a brand-new Wi-Fi-enabled product using Microsoft Azure IoT technology, allowing it to gain valuable insights into how customers use its products for the first time. This allows Fermax to not only improve their user experience, but also directly offer a variety of value-added services to their customers.
Key Industry Players
Major companies operating in the intercoms systems and equipment market report are Samsung Electronics Co. Ltd., Panasonic Corporation, Commax Co. Ltd., Honeywell International Inc., ABB Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Legrand Legrand SA, Dahua Technology Co. Ltd., TKH Group NV, Godrej Industries Limited, Elvox SpA, Axis Communications AB, Alpha Communications Inc., Fermax Electronica S.A.U., Gira Giersiepen GmbH & Co. KG, Aiphone Co. Ltd., 2N TELEKOMUNIKACE a.s., Zenitel NV, TekTone Sound & Signal Systems Inc., Comelit Group S.p.A., Commend International GmbH, Cornell Communications Inc., ButterflyMX Inc., Zicom Electronics Security Systems Limited, Ring Communications Inc., EasyGates LLC, TechWorks Communications Inc., RNJ Electronics Inc., Nidac Security Pty Ltd., Siedle & Söhne OHG
The intercoms systems and equipment market report table of contents includes:
1. Executive Summary
2. Intercoms Systems And Equipment Market Characteristics
3. Intercoms Systems And Equipment Market Trends And Strategies
4. Intercoms Systems And Equipment Market – Macro Economic Scenario
5. Global Intercoms Systems And Equipment Market Size and Growth
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32. Global Intercoms Systems And Equipment Market Competitive Benchmarking
33. Global Intercoms Systems And Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Intercoms Systems And Equipment Market
35. Intercoms Systems And Equipment Market Future Outlook and Potential Analysis
36. Appendix
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