Market Trends of Europe IP Video Intercom Device and Equipment Industry
This section covers the major market trends shaping the Europe IP Video Intercom Device & Equipment Market according to our research experts:
Increasing Home Security Concern Owing to Growing Crime Rate to Drive the Growth
- The adoption of security solutions is directly related to European crime occurrences. The pandemic-ridden era led to lockdown protocols which closed the opportunity for home security breaches because people were confined in their homes. However, the rates picked up again as restrictions eased up.
- Across Europe, the crimes of housebreaking, theft, and robbery have been significantly high despite the efforts of the government and police to curb them. For instance, according to the Ministry of Interior of France, in December 2021 alone, more than 400,000 cases were reported to the police and authorities. Furthermore, housebreaking was the second most reported crime for the same month, with 50,422 cases reported.
- The data shows the large occurrence of home-related crimes prevalent across European countries. The concurrent crime occurrence and crime rates in home security are driving the deployment of IP video intercom cameras in the residential sector as citizens are willing to invest in home security solutions and avoid such incidents.
- The European Union Agency for Network and Information Security (ENISA) is a network and information security expertise center for the EU. The organization assists EU member states in implementing relevant EU legislation to enhance the current cyber security status in Smart Home Environments.
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Commercial Establishments to Drive the Demand for IP Video Intercom Devices and Equipments
- The commercial sector includes office buildings that may host multiple organizations inside it. These buildings' entry and exit points are equipped with video intercom systems to restrict unwanted access to personnel and allow access to the required ones. Further, the video intercom systems allow offices to allow delivery personnel without needing to physically access the entry points.
- Building with several blocks hosting more than one business is the ideal target area for video intercom devices and equipment. As the market progresses from analog to IP, IP-based solutions are anticipated to gain significant traction. Commercial spaces can be noted to move away from aging access control systems and from using outdated two-wire analog cabling. Such factors are anticipated to drive the growth of the studied market in this segment.
- Newly built commercial spaces already make room for installing the IP-based video intercom systems; however, the existing framework for analog settings can be a pain point restricting its fluid adoption. Due to the need for replacing wired connections with the up-gradation of the entire building to connect them to the Internet, the adoption in existing buildings can be riddled with restraints.
- However, technological innovation like the two-wire IP Video Intercom System by Hikvision is expected to address the challenge and positively influence the market's growth. Furthermore, the rising number of commercial buildings is a key indicator of the growing potential of the market. The construction of commercial buildings was temporarily stopped due to the COVID-19 restrictions but has again gained momentum and is expected to increase drastically in the post-pandemic era.
- Countries like Germany, the UK, France, and Italy, amongst others, have registered strong growth and are expected to create significant opportunities for adopting IP video intercom systems over the forecast period.
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