Wireless intercoms are a type of telecom devices that allow voice communication without the requirement of copper wires in between the intercom locations. In recent years, the Asia Pacific wireless intercom market has witnessed substantial growth owing to the high rate of adoption in urban regions. Furthermore, the consistent infrastructure development in this region is projected to augment the demand for efficient and reliable security systems, thus propelling the wireless intercom market. The rapid urbanization in Asia Pacific is also projected to boost the demand for wireless intercoms in the next few years.
In 2014, the Asia Pacific market for wireless intercoms was worth US$0.4 bn. The market is anticipated to exhibit a progressive 12.30% CAGR between 2015 and 2023, reaching a value of US$1.1 bn by the end of 2023.
Rising Crime Rate to Augment Growth of Security and Surveillance Segment
The Asia Pacific market for wireless intercoms can be classified on the basis of industry vertical into hospitality, transportation and logistics, security and surveillance, event management, retail, and others. In 2014, the security and surveillance segment was worth US$100.7 mn and is projected to reach a value of US$302.5 mn by 2023. This segment is estimated to register a 13.20% CAGR between 2015 and 2023. The rapid growth of this segment can be attributed to the increasing crime rate in Asia Pacific in the last few years.
The Asia Pacific wireless intercom market can be segmented on the basis of technology into Wi-Fi and radio frequency. In 2014, the radio frequency segment accounted for an 80% share in the overall market, and is expected to register a 10.50% CAGR between 2015 and 2023. Nevertheless, the Wi-Fi segment is expected to grow at a fast pace, exhibiting a 19.80% CAGR between 2015 and 2023. On the basis of end use, large enterprises are considered as the prominent consumers of wireless intercoms in Asia Pacific. This segment is projected to remain in the leading position in the next few years.
Rapid Industrialization to Drive Wireless Intercom Market in Rest of Asia Pacific
The Asia Pacific market for wireless intercoms can be divided on the basis of geography into Oceania, China, ASEAN, and Rest of Asia Pacific. In 2014, the Rest of the Asia Pacific (India, Japan, Taiwan, Pakistan, Bangladesh, South Korea, Sri Lanka, and Fiji) accounted for a 40% share in the overall wireless intercom market. The rapid growth of this region can be attributed to the growing commercial infrastructure, industrial complexes, and special economic zones.
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The prominent players engaged in the wireless intercom market in Asia Pacific include Telephonics Corporation, RTS Intercom, Clear-Com Ltd., Riedel Communications GmbH & Co. KG, Sena Technologies, Inc., Panasonic Corporation, Zenitel Group, and Commend International GmbH. Considering the potential opportunities in the Asia Pacific market, several players are estimated to enter the market in the near future in order to gain a lucrative share in the market.