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Intercoms Systems And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Intercoms Systems And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6072050
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the intercoms systems and equipment market are Hangzhou Hikvision, Aiphone Corporation, Legrand SA, Panasonic Corporation, Honeywell Security Group, Zicom Electronics Security Systems Limited, Godrej Industries Limited, Dahua Technology Co. Ltd, Comelit Group S.P.A and Easy gates LLC.

The global intercoms systems and equipment market is expected to grow from $17.7 billion in 2020 to $18.63 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $23.64 billion in 2025 at a CAGR of 6%.

The intercoms systems and equipment market consist of sales of intercom system devices and related services for usage in electronic communications system that contains circuitry for the purpose of transmitting and receiving audio and/or video transmissions. The intercom system services can be through wireless, wired, video, apartment based, and two ways radios for communication.

Implementation of long-term evolution (LTE) technology based intercoms, have been gaining acceptance from companies across all industries.LTE is a modern IP communicator, which provides high data for clear voice communication, full HD video streaming and a faster installation of the intercom.

For instance, in July 2019, Clear-Com, introduced the FreeSpeak II Digital Wireless Intercom System. FreeSpeak II is a five-channel, full-duplex wireless intercom solution, ideal for large-scale, complex ideas or specialized applications-requiring team members to be untethered and talking in free channels of communication.

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 April 2019, Hikvision, the world’s leading provider of innovative video surveillance products and solutions produced a new range of vertical-specific solutions, including specialized applications, intelligent traffic management solution (ITMS), and mobile enforcement devices in the third edition of the Fire & Security India Expo (FSIE) in 2019.

Initial investments and high installation cost is expected to restrain the intercoms systems and equipment market.Price of intercoms systems varies on the basis of on-site inspection to determine the installation of traditional or wireless intercom systems.

For instance, a two-module intercom setup will cost between $200-$300 without installation, business intercom systems for faster communication between co-workers will cost between $200-$700 depending on features and industrial intercom models with speakers and adjustable volume will cost between $750-$1000. Thereby, high cost of intercom systems is limiting the market growth.

In October 2018, Zenitel, a Belgium based company, acquired intellectual property rights and intercom operations of Phontech from Jotron AS for an undisclosed amount through an asset purchase agreement.Addition of Phontech business will strengthen Zenitel, in the business for intelligent critical communication solutions.

Phontech, a Norway based company, is well known for intercom, public address and general alarm solutions with worldwide market presence.

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