Over the last decade, the adoption of wireless intercom in Asia Pacific has witnessed a significant upswing. The infrastructural development in this region has boosted the need for efficient security systems, of which wireless intercoms are essential parts. This factor has been driving the demand for wireless intercoms in this region remarkably.
Analysts at Transparency Market Research project this trend to remain growing over the next few years, leading to an upsurge in the adoption of wireless intercoms in Asia Pacific. In 2014, the opportunity in wireless intercom across Asia Pacific was worth US$0.4 bn. Rising at a CAGR of 12.30% between 2015 and 2023, it is estimated to rise up to US$1.1 bn by 2023.
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Security and Surveillance Emerges as Leading Application Area of Wireless Intercoms
Event management, security and surveillance, hospitality, retail, and transportation and logistics are the prime application areas of wireless intercoms. Among these, the security and surveillance segment has emerged as the leading adopter of these intercoms. The rising crime rate has increased the concerns over security among people in Asia Pacific, leading to the growing demand for robust security solutions. Hence, wireless intercoms, being an important part of these solutions, has also witnessed a surge in demand in the recent times.
In 2014, the revenue generated by the application of wireless intercoms in the security and surveillance segment stood at US$100.7 mn. Expanding at a CAGR of 13.2% between 2015 and 2023, it is likely to reach US$302.5 mn by the end of 2023.
Wireless Intercoms to Witness Significant Adoption in the Rest of Asia Pacific
The wireless intercom market in Asia Pacific stretches across Oceania, ASEAN, China, and the Rest of Asia Pacific. The Rest of Asia Pacific, including India, Taiwan, Japan, Pakistan, South Korea, Bangladesh, Fiji, and Sri Lanka, led the overall demand for wireless intercoms in 2014 with a share of nearly 40%. The rising number of industrial complexes, commercial infrastructure, and special economic zones (SEZs), owing to the rapid industrialization, has boosted the application of wireless intercoms in economies in the Rest of Asia Pacific in the recent past.