[187+ Pages Report] Global IP intercom market in 2019 was approximately USD 985.6 million. The market is expected to grow at a CAGR of 7.1% and is anticipated to reach around USD 1,487.0 million by 2026.
The IP intercom is an integrated system for audio communication, it sends audio over the IP network in packets to attain, accurate and faster communication with optimum reliability and security. There are 2 modes of communication for the IP intercom system namely, Master-to-Substation communication and Master-to- Masterstationcommunication. IP intercom system has numerous uses such as audio triggering, paging broadcasting, BGM broadcasting, conversation, and other functions related to security.
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The IP intercom equipment is being widely implemented for the AV systems of the building, malls, offices, etc. The Amassed building automation is anticipated to bolster the adoption of IP intercom devices for commercial and residential buildings. Furthermore, it is anticipated that various government initiatives for smart cities will further bolster the IP intercom industry’s growth. The increasing demand for advanced AV security systems that provides better security for offices and residential buildings is also anticipated to drive the market’s growth. Additionally, major players are increasingly incorporating new technologies into IP intercom systems such as wireless communication systems, and the use of IoT and cloud-based service is supporting the market growth. The high initial investment required for the installation of the IP intercom system combined with its high maintenance costs compared to the traditional intercom system may recede the growth of the IP intercom market. However, the government’s austerity acts for lowering the prices of IT products are anticipated to provide lucrative opportunities for new players in the IP intercom market. Furthermore, the increasing adaptation of cloud and IoT-based systems across the globe will enable the IT industries to expand its IP intercom market worldwide.
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The application segment of the IP intercom system includes offices, educational institutions, stores, residential, and others. Among these segments, the residential sector is projected to acquire a major revenue share. The residential segment held 33.56% of total market shares in 2020 and is anticipated to grow at a steady pace of 8.1% CAGR over the forecast period. Several government initiatives for the development of smart cities, such as India, China, South Korea, Brazil, etc. are the key reason for the huge growth of this segment.
The regional segment includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the IP intercom market in terms of revenue. The presence of prominent technology players in the region, infrastructure development, and awareness regarding safety and security are likely to propel the market growth in the region.
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Top Market Players
Some of the essential players operating in the IP intercom market, but not restricted to Aiphone Co. Ltd., Axis Communications, Barix AG, Commend International GmbH, Legrand S.A., TCS TürControlSysteme AG, Comelit Group S.p.A., FermaxElectrónica S.A.U., Panasonic Corporation, TOA Corporation, S. Siedle&Söhne OHG, Hongkong Koon Technology Ltd., Hubbell Incorporated and others.
This report segments the IP intercom market as follows:
Global IP intercom Market: By Application Segmentation Analysis
- Offices
- Educational Institutions
- Stores
- Residential
- Others
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