PUBLISHER: The Business Research Company | PRODUCT CODE: 1435426
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435426
An intercom system serves as a closed-circuit voice communication device facilitating two-way interactions between individuals.
Intercom systems primarily come in two product types such as audio and video. Audio pertains to sound-related functions involving transmission, reception, reproduction, or specific frequency modulation. These systems leverage either IP-based or analog technology. They find extensive utility across government, residential, and commercial sectors, catering to diverse applications.
The intercoms systems and equipment market research report is one of a series of new reports from The Business Research Company that provides intercoms systems and equipment market statistics, including intercoms systems and equipment market global market size, regional shares, competitors with a intercoms systems and equipment market share, detailed intercoms systems and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the intercoms systems and equipment industry. This intercoms systems and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 increase observed during the historical period can be credited to a variety of factors including heightened security concerns, growth in both commercial and residential construction, expansion within industrial sectors, government regulatory changes, and the ongoing trend of 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%. Anticipated growth in the forecast period stems from smart building trends, health and safety compliance, remote work, education sector expansion, and evolving hospitality needs. Key forecasted trends include voice recognition tech, cybersecurity focus, remote work solutions, AI integration, and increased customization.
The utilization of IoT-based intercom systems is anticipated to be a driving force in the market. These systems leverage the internet, focusing on networking through platforms and middleware. With network connectivity facilitating data transmission between intercom systems, these IoT-based solutions incorporate embedded sensors, actuators, and other devices. The increasing adoption of IoT technologies is poised to generate global demand for intercom devices. For example, in June 2021, Fermax, a Spain-based manufacturer specializing in door control, video door control, digital audio and video communication systems, and access control equipment, introduced a new Wi-Fi-enabled product utilizing Microsoft Azure IoT technology. This innovation empowers Fermax to gain valuable insights into customer usage patterns, enabling improvements in user experience and the provision of value-added services.
The upward trend in smart homes is expected to drive the growth of intercom systems and equipment. Smart homes are residential properties equipped with an array of devices and systems that can be remotely monitored, controlled, and automated. Intercom systems and equipment within smart homes are accessible through smartphones, tablets, or other devices, enabling residents to communicate with each other, screen visitors at the front door, and manage access control. In August 2023, RubyHome, a US-based real estate company, reported that 63.43 million homes in the US utilize smart home devices, with approximately 7 in 10 homebuyers expressing willingness to invest in a smart home. Consequently, the increasing popularity of smart homes is a key driver behind the growth of the intercom systems and equipment market.
The intercom systems and equipment market faces challenges stemming from initial investments and high installation costs. The pricing of intercom systems varies based on factors such as on-site inspections, determining whether traditional or wireless systems are suitable for installation. For instance, a two-module intercom setup is estimated to cost between $200-$300 without installation. Business intercom systems designed for efficient communication among co-workers may range from $200-$700, depending on features. Industrial intercom models, equipped with speakers and adjustable volume, can cost between $750-$1000. The significant cost associated with intercom systems is acting as a constraint, limiting market growth.
The adoption of Long-Term Evolution (LTE) technology-based intercoms is gaining traction across various industries. LTE serves as a modern IP communicator, offering high data rates for clear voice communication, full HD video streaming, and faster intercom installation. In August 2021, NTT DATA Corporation, a Japan-based consulting and information technology company, announced the launch of NTT's Private 5G platform (P5G), a global Network-as-a-Service platform for private LTE/5G. This platform provides Chief Information Officers and Chief Digital Officers with end-to-end services beyond the network, allowing them to leverage the benefits of private 5G to address business challenges and innovate for future business needs. By incorporating design thinking concepts, NTT P5G prioritizes security, control, and privacy by design, ultimately leading to improved performance, reduced costs, and a clear return on investment.
Key players in the intercom systems and equipment market are committed to product innovation, exemplified by offerings such as IMPW, aimed at delivering reliable services across various scenarios. IMPW stands out as a wireless intercom system and equipment specifically engineered for critical missions, catering to both civilian and combat contexts. In September 2023, Savox Communications Ltd., a prominent communication solutions provider based in the US, introduced IMPW to the market. The IMPW intercom system comprises the Savox IMP system, the Savox WIM (Wireless Interface Module), and a designated number of Savox WPCU's (Wireless Personal Communication Units). This system boasts wireless capabilities, low-power operation, robust encryption, and natural audio features within vehicles or vessels. It ensures seamless collaboration between teams and supporting vehicles in diverse and challenging situations.
In February 2021, Legrand, a France-based expert in electrical, digital building, and data center infrastructures, successfully acquired the Champion ONE (C1) family of brands from A&M Capital Opportunities. Legrand's strategic acquisition is geared towards addressing the escalating demands within the data center and mission-critical IT sectors for dependable, scalable power, and connectivity solutions. A&M Capital Opportunities, a U.S.-based provider of optical networking components and solutions, was the entity from which Legrand made this acquisition.
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 & Sohne OHG
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.
The countries covered in the intercoms systems and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The intercoms systems and equipment market consist of sales of intercom system devices for usage in an electronic communications system that contains circuitry to transmit and receive audio and/or video transmissions. The intercom system services can be through wireless, wired, video, apartment based, and two ways radios for communication. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Intercoms Systems And Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on intercoms systems and equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for intercoms systems and equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The intercoms systems and equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.