Intercoms Systems and Equipment Global Market Opportunities and Strategies to 2033

This report describes and explains the intercoms systems and equipment market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global intercoms systems and equipment market reached a value of nearly $3.47 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.17% since 2018. The market is expected to grow from $3.47 billion in 2023 to $5.07 billion in 2028 at a rate of 7.88%. The market is then expected to grow at a CAGR of 8.39% from 2028 and reach $7.58 billion in 2033.

Growth in the historic period resulted from the rising adoption of IoT technologies, rising number of educational institutions, increasing smart city projects and emerging markets growth. Factors that negatively affected growth in the historic period include initial investments and high installation cost.

Going forward, the growing popularity of smart homes, rising number of hotels and resorts, increasing aging population worldwide, growth in the construction industry and rising urbanization will drive the market. Factors that could hinder the growth of the intercoms systems and equipment market in the future include supply chain disruptions and shortage of skilled professionals.

The intercoms systems and equipment market is segmented by product type into audio and video and equipment. The video market was the largest segment of the intercoms systems and equipment market segmented by product type, accounting for 65.1% or $2.25 billion of the total in 2023. Going forward, the video segment is expected to be the fastest growing segment in the intercoms systems and equipment market segmented by product type, at a CAGR of 8.73% during 2023-2028.

The intercoms systems and equipment market is segmented by technology into IP based and analog based. The IP based market was the largest segment of the intercoms systems and equipment market segmented by technology, accounting for 69.9% or $2.42 billion of the total in 2023. Going forward, the IP based segment is expected to be the fastest growing segment in the intercoms systems and equipment market segmented by technology, at a CAGR of 8.36% during 2023-2028.

The intercoms systems and equipment market is segmented by end-user into government, residential and commercial. The residential market was the largest segment of the intercoms systems and equipment market segmented by end-user, accounting for 40.1% or $1.39 billion of the total in 2023. Going forward, the residential segment is expected to be the fastest growing segment in the intercoms systems and equipment market segmented by end-user, at a CAGR of 8.50% during 2023-2028.

North America was the largest region in the intercoms systems and equipment market, accounting for 30.4% or $1.05 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the intercoms systems and equipment market will be Asia-Pacific and the Middle East, where growth will be at CAGRs of 10.43% and 9.03% respectively. These will be followed by Africa and South America, where the markets are expected to grow at CAGRs of 8.91% and 7.64% respectively.

The global intercoms systems and equipment market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up 39% of the total market in 2023. Aiphone Corporation was the largest competitor with a 7% share of the market, followed by Legrand SA with 6.6%, TKH Group NV with 5.5%, ABB Ltd. with 4.2%, Hangzhou Hikvision Digital Technology Co. Ltd. with 3.8%, Dahua Technology Co. Ltd. with 3.3%, Samsung Electronics Co., Ltd with 2.6%, Honeywell International Inc. with 2.1%, TOA Electronics, Inc. with 2% and Axis Communications AB with 1.8%.

The top opportunities in the intercoms systems and equipment market segmented by product type will arise in the video segment, which will gain $1.17 billion of global annual sales by 2028. The top opportunities in the intercoms systems and equipment market segmented by technology will arise in the IP based segment, which will gain $1.19 billion of global annual sales by 2028. The top opportunities in the intercoms systems and equipment market segmented by end-user will arise in the residential segment, which will gain $700.7 million of global annual sales by 2028. The intercoms systems and equipment market size will gain the most in the USA at $301.05 million.

Market-trend-based strategies for the intercoms systems and equipment market include innovative vehicle communication solutions for seamless team support, professional peer-to-peer communication systems offer increased flexibility, advanced hands-free communication systems for film and concerts, virtual intercom solutions for modern production, and new product launches with focus on enhanced security with cloud-managed video intercoms.

Player-adopted strategies in the intercoms systems and equipment market include focus on strengthening business operations through strategic partnerships, enhancing business operations through strategic acquisitions and strengthening business operations through new product developments.

To take advantage of the opportunities, the analyst recommends the intercoms systems and equipment companies to focus on innovating product offerings to enhance market penetration, focus on expanding product offerings and integration capabilities, focus on innovating hands-free communication solutions, focus on implementing virtual-based intercom solutions, focus on developing cloud-managed video intercom solutions, focus on expanding presence in the video intercom market, focus on expanding presence in the IP-based intercom market, expand in emerging markets, focus on diversifying distribution channels for intercom systems, provide competitively priced offerings, continue to use B2B promotions, focus on digital marketing and thought leadership and focus on tailoring sales strategies for diverse end-user segments.