IP Intercom Market Outlook- 2030
The global IP intercom market was valued at $2.23 billion in 2020 and is projected to reach $4.92 billion by 2030, registering a CAGR of 8.5% from 2021 to 2030.
An IP intercom is a device that provides two-way audio communication between different location and parties. Moreover, IP intercoms can either connect directly to each other via a Local Area Network (LAN) connection or through a computer server. It is an internet-connected device designed to transmit audio and video.
The growing adoption of Intercom in commercial and government applications for communication and security purposes, and the associated benefits and integration of advance technologies in IP intercom are expected to fuel the growth of the market. Moreover, the growing use of intercom in residential sector is also expected to boost the market during the forecast period.
In the coming years, the IP intercom industry is expected to generate cash output with the investments in development, research, and tests. However, the IP intercom market is nearing the maturing stage, and is expected to generate modest revenue for key players in the coming years.
By Type
Visible segment generated the highest revenue in 2020.
Factors such as growing adoption of Intercom in commercial and government applications for communication and security purposes, and the associated benefits and integration of advance technologies in IP intercom are expected to drive the growth of the market in the future. However, high equipment cost act as major barriers and hamper the market growth. Furthermore, the growing use of intercom in residential sector are expected to offer lucrative opportunities for the market.
Segment Review
The IP intercom market is analyzed on the basis of type, application, and region. By type, the market is divided into visible, and invisible. By application, it is classified into commercial, government, industrial, residential, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
Competitive Analysis
The key players profiled in the report include Axis Communications, Barix, AIPhone, TCS AG, Legrand, Panasonic, Commend, Comelit Group, TOA Corporation, and Fermax. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
By Application
Commercial segment generated the highest revenue in 2020.
COVID-19 Impact Analysis
The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.
The COVID-19 pandemic has impacted the society and overall economy across the globe. The impact of this outbreak increased day-by-day that affected the supply chain. This has created uncertainty in the stock market; decreased business confidence, slowed supply chain, and increased panic among customers. European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19, which led to decrease in growth of the market in 2020.
According to the IP intercom market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.
Emergence of COVID-19 declined the growth of the IP intercom market in 2020, and is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdown across various countries globally is the prime reason for decline in growth rate of the market. As industries were temporarily shut, it reduced the need for maintenance from various industries.
Top Impacting Factors
The significant factors that impact the global IP intercom market include the growing adoption of Intercom in commercial and government applications for communication and security purposes, and the associated benefits and integration of advance technologies in IP intercom. In addition, high equipment cost is the key hurdle for the market growth. Moreover, the growing use of intercom in residential sector has affected the market growth to a certain extent. Each of these factors is anticipated to have a definite impact on the global IP intercom market during the forecast period. These factors are expected to offer lucrative opportunities for the market growth in the coming years.
Growing Adoption of Intercom in Commercial and Government Applications for Communication and Security Purposes
IP intercom adopting is growing in all sectors including government and commercial sector specifically-configured communications solution and security purposes. Intercom devices are an essential component of communication and security, they also give a safe way to manage access through the doors in both the public and private sectors. In commercial as well as government sectors, P intercoms allow security teams to manage visitors and maintain safety from a centralized location and off-premise.
Moreover, it is also be integrated with the corporate and security phone system and answered on the normal reception phone, or even in the video management system on the screens in the security office of the commercial and government offices. Thus the growing adoption of IP intercom in commercial and government sectors are boosting the market growth. These factors are driving the growth of the market.
High Equipment Cost
The intercom system services can be through wireless, wired, video, apartment based, and two ways radios for communication. IP intercoms is costly and time-consuming for multi-dwelling buildings due to system integrators and equipment installation. IP intercom have high resolution cameras, which add high cost in the system, also the advance security software is bit costly than the tradition intercom. Sensors and speakers are widely used in IP intercom that adds on the cost for the system. Moreover, IP intercom includes audio trigger, scan monitor, remote control, and more for added features and ease of communication. These equipment’s are high in cost and is the key hurdle for the IP intercom market growth.
By Region
Asia-Pacific would exhibit the highest CAGR of 10.4% during 2020-2030
Key Benefits for Stakeholders
- This study comprises analytical depiction of the IP intercom market size, IP intercom market analysis opportunity along with current trends and future estimations to depict imminent investment pockets.
- The overall IP intercom market and IP intercom market size analysis is determined to understand profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis and IP intercom market forecast.
- The IP intercom market outlook forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates potency of buyers and the market share of key vendors.
- The report includes the market trends and the IP intercom market share of key vendors.
IP Intercom Market Report Highlights
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Analyst Review
The IP intercom market is highly competitive, owing to strong presence of existing vendors. IP intercom technology vendors who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the global market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
The IP intercom market exhibits high growth potential in automobile, healthcare, utility, commercial and industrial sectors. The current business scenario is witnessing an increase in demand for energy, particularly in developing regions such as China and India, owing to surge in population and rise in demand for energy. Companies in this industry are adopting various innovative techniques, such as mergers and acquisitions to strengthen their business position in the competitive matrix.
The market growth is supplemented by proactive industrialization efforts and surge in manufacturing output, owing to technological advancements. These factors have allowed emerging markets to evolve as largest markets during the forecast period both from the demand as well as the supply side. Public & private organizations have substantially invested in R&D activities and fabrication techniques to develop cost-effective electrical digital twins.
North America is the major revenue contributor to the global market, followed by Europe. The market growth in Asia-Pacific and Europe is expected to significantly increase during the forecast period. The IP intercom market provides numerous growth opportunities to the market players such as Axis Communications, Barix, AIPhone, TCS AG, Legrand, Panasonic, and others. These companies are engaged in the process of product innovation, collaboration, and acquisition to expand their services across various regions.
The IP Intercom Market is estimated to grow at a CAGR of 8.5% from 2021 to 2030.
The IP Intercom Market is projected to reach $4.92 billion by 2030.
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Factors such as growing adoption of Intercom in commercial and government applications for communication and security purposes, and the associated benefits and integration of advance technologies in IP intercom are expected to drive the growth of the market in the future.
The key players profiled in the report include Axis Communications, Barix, AIPhone, TCS AG, Legrand, Panasonic, Commend, Comelit Group, TOA Corporation, Fermax, and many more.
On the basis of top growing big corporations, we select top 10 players.
The IP Intercom Market is segmented on the basis of type, application, and region.
The key growth strategies of IP Intercom market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Visible Segment holds a dominant position throughout the forecast period.
Government segment will grow at a highest CAGR of 10% during 2021 - 2030.
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