Residential Intercom System Market Size, Share, Growth, and Industry Analysis by Type (Audio Intercom System, and Video Intercom System) By Application (Apartment, and House), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Residential Intercom System Market Report Overview

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The global residential intercom system market size was USD 2478.9 million in 2022 and projected to touch USD 4954.56 million by 2031, exhibiting a CAGR of 7.2% during the forecast period.

Audio and video transmissions can be transmitted and received through an intercom system, which is a two-way communication product. Cellular communication, digital telephone systems, and other communication devices have reduced the use of intercoms. It should be noted, however, that these devices still offer better performance than anything else in many situations.

Residential intercom systems are electronic devices that enable two-way communication between tenants and their visitors and grant access to the property. In addition to a microphone, speaker, and sometimes a camera, intercoms are installed at the entrance to a building. Using the intercom, tenants can view and speak with guests before giving them access to the building. In addition to being convenient, home intercom systems increase family safety and provide an additional layer of security. With this two-way communication device, you can see who is outside your home without opening the door, answer the door remotely from your smartphone, and see who has been visiting your home when you aren't home.   It is crucial to have an intercom system in your apartment building in order to control visitor access. Visitors can call tenants within a building using the directory on a multi-tenant intercom system to request access. Unlike video doorbells or access control systems, tenant directories are an incredibly important feature of property access solutions.  

COVID-19 Impact: Halt on Machinery and Equipment to Hamper Market

Offices and business organizations are exploring a variety of ways to enhance workplace safety without compromising communication as the global economy continues to recover from the ongoing COVID-19 pandemic. As offices prepare to resume on-premise operations following the relaxation of lockdown guidelines in 2020, sales of residential intercom systems are expected to continue to grow in the last two quarters of 2020, even though the market was already on the upswing before the COVID-19 pandemic. During the lockdown, since many people worked from home, the market experienced a decline. However, restrictions have been eased and more people are focusing on smart homes, etc. Over the forecast period, it is expected to witness the residential intercom system market growth. 

Latest Trends

"Increasing Relevance of Smart Homes to Drive the Market Growth"

A significant market for smart homes is growing each year, and their size continues to grow. Increasing the safety and security of one's home is one of the biggest benefits of home automation. Developers will be able to deploy the IoT in the target application with security functions defined. To verify identity, traditional doorbells require being near the door, but video doorbells come with a high-definition 1080p camera, a buzzer, and two-way audio. By connecting the smart app to a smartphone or another smart device, all of these features can be accessed on the go.

Residential Intercom System Market Segmentations

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• By Type

The market is classified into audio intercom system, and video intercom system based on type. The audio intercom system segment will lead the residential intercom system market share throughout the forecast period.

• By Application

The market is classified into apartment, and house on the basis of application. The apartment segment will lead the residential intercom system market share throughout the forecast period.

Driving Factors

"Advanced Security of Intercom System to Drive the Market Growth"

The better your home security and household safety, the more likely you are to identify visitors on your doorstep or let them into your property. Moreover, a video intercom allows you to catch all criminal activity on camera, and it could be used as critical evidence in the event of a crime. There are times when it is difficult or impossible to answer the front door. Your risk of theft or liability may increase if you miss visitors when you are busy, at work, or running errands. It has been shown that most burglaries occur between 10 am and 3 pm, when people are most busy or at work. In addition, 34% of burglars enter through the front door, as seeing someone enter a home through the front door seldom raises any suspicion.

The right home intercom system will alert your smartphone, computer, or tablet when someone is at your door, so you can connect and see who it is. Some systems can show a live video of someone standing near your entryway while you carry on an audio conversation with them. Keeping your home safe with recorded video of your visitors is possible when you monitor entry and access points carefully.

"Convenient Usage of the Intercom System to Drive the Market"

Residential intercom systems are mostly installed for convenience. The intercom allows you to communicate with those in other parts of your house without having to walk over to them or shout. The advantage of this is that you can easily communicate with your young children or elderly relatives without having to leave what you are engaged in, thereby driving the residential intercom system market growth.

Restraining Factors

"Limited Range of Certain Residential Intercom System to Restrain the Market Growth"

Having a large home can make an intercom system inconvenient due to its limited range. As a result, it may be difficult to communicate with people who are too far away, which can be difficult if someone needs help. Thus, the limited range of residential intercom system is often a major disadvantage in the market.

Residential Intercom System Market Regional Insights

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"North America to Lead the Market Owing to the Growth of Residential Sector in the Region"

The North American market dominates the residential intercom systems market with the largest share. As the residential sector grows rapidly in the region, the market is expected to be fuelled by this growth. Moreover, the Western attitude of welcoming and embracing new technology plays a huge role in the high market share in America. Regional markets are also expected to benefit from initiatives such as smart buildings and smart transportation. Residential income generation is a major contributor to income in North America. Market growth in North America has been driven by the home automation industry and increased spending on security systems. Many residential projects and offices in the country are gradually replacing their deadbolt locks with smart video intercoms.

In the forecast period, Asia Pacific will lead the market behind North America due to increased urbanization in the region. The regional market is also expected to benefit from rising disposable income levels in developing countries, such as India and China.

Key Industry Players

"Leading Players Adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolios and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the residential intercom system market.

List of Market Players Profiled

• Aiphone (Japan)
• Panasonic (Japan)
• Legrand (Europe)
• Samsung (South Korea)
• Commax (South Korea)
• ABB (Europe)
• Guangdong Anjubao (China)
• TCS (India)
• Fermax (Spain)
• Aurine Technology (China)
• Honeywell (U.S.)
• Siedle (Europe)
• Urmet (Europe)
• Comelit Group (Europe)
• Kocom (Europe)
• Nortek Security & Control (U.S.)
• Axis (India)
• Zhuhai Taichuan (China)
• Leelen Technology (China)
• WRT Security System (U.S.)
• ShenZhen SoBen (China)
• Doorking (U.S.)
• Fujiang QSA (China)
• Zicom (India)
• Shenzhen Competition (China)
• Quanzhou Jiale (China)

REPORT COVERAGE

In the report, factors affecting the market from both demand and supply are evaluated and market dynamics during the forecast period are also forecasted. Also included in the report is a comprehensive PEST analysis of countries, which assesses the governmental, financial, and shared factors influencing their markets. Apart from all of these, the report also provides drivers, restraints, opportunities, and future trends.