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According to the latest research report titled “Wireless Intercom Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the global wireless intercom market was valued at US$ 5,896.81 million in 2019, and it is expected to grow at a CAGR of 6.7% during 2020–2027 to reach US$ 9,564.41 million by 2027.
APAC Wireless Intercom Market to Grow at Highest CAGR During Forecast Period
Presence of steadily growing developing economies and rise in adoption of innovative as well as advanced technologies contribute to fast pace of growth of APAC. Development of infrastructure activities due to the expansion of urban population in the Asia-Pacific region is expected to propel the demand for robust security and communication solutions. Increasing disposable incomes and rising affluence have also supported the need for electronic security. This, in turn, is anticipated to increase the need for wireless intercoms to provide better communication for security and surveillance purposes. Moreover, the market in India is mainly driven by rise in demand for apartments having an inbuilt security system and wireless intercoms. Regionally, Asia-Pacific is the main production area of video intercom devices. China and Japan are the largest producers of such devices. Compared to Japan, video intercom devices produced in China are of large volume and cheaper. Also, the present and future of wireless intercoms are related to their integration within the home automation systems. Most of the infrastructure facilities in the region use this wireless intercom to monitor the crowds and secure facilities, which is leading to the market growth. The global wireless intercom market would continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific would continue to be at the forefront of global demand, with the market in the region expected to grow at a higher rate during the forecast period.
The intense competition between RTS Intercom, Clear-Com Ltd., and Commend International GmbH characterizes the competitive landscape of the wireless intercom market in Asia Pacific. These wireless intercom manufacturers depend on product innovations and integration of latest technologies in their existing offerings to grab an edge over each other. For instance, Commend International introduced an advanced version of its intercom solution in April 2019, integrated with intelligent volume control function to enhance the speech volume and degrade the background sound in noise-polluted environments. By September 2019, Clear-Com also came up with DX410, a 2.4GHz base station, offering a two-channel, frequency hopping system. Over the forthcoming years, apart from innovation and advancements, competitors in this market are likely to look for strategic alliances with companies in the media and technology sector to incorporate technological developments in their products, to strengthen their position in APAC.
Key Findings of Study:
The residential sector across the world continues to observe considerable changes, particularly in developing regions. The introduction of smart cities and the focus on implementing new technologies and amenities across residential complexes and townships are expected to drive the adoption rate of wireless intercoms in the upcoming years. Smart wireless video intercoms allow condominium residents to view visitors and CCTV from their residence or from remote locations. In addition, various governments are initiating strategies toward the development of smart cities, which is further expected to drive the wireless intercom market. Wireless intercom systems have gained immense popularity across developing countries over the past couple of decades. At present, wireless intercoms are extensively used as an advanced security solution across developing countries. Key players operating in the wireless intercom market include Alcatel-Lucent S.A. (Nokia Corporation), Aiphone Corporation, Clear-Com LLC, Commend International GmbH, Panasonic Corporation, RIEDEL, RTS intercom systems, Telephonics Corporation, VTech Holdings Limited, and Wisycom Srl.
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