The cloud video intercom platform is a smart video-intercom system installed on a door that helps users to view and interact with visitors and release the door. This can be done via a smartphone, using the particular cloud video intercom application. The cloud video intercom system provides audio - visual calls without the needs of labor to install video-intercom and, related wiring and power supply requirements. Increasing security concerns across the globe are likely to boost the cloud video intercom platform market during the forecast period.
The global cloud video intercom platform market can be segmented based on component, enterprise size, end-user, and region. Based on component, the cloud video intercom platform market can be divided into hardware, software, and services. Presently, large enterprises are emphasizing on the adoption of cloud-based technology as a vital business model for their overall process development. Likewise, small and medium enterprises, i.e., SMEs, are also witnessing the benefits of cloud-based technology and hence, are adopting it in order to improve their productivity. These factors are expected to offer significant opportunity to cloud video intercom platform providers. In terms of services, the global cloud video intercom platform market can be classified into implementation service, integration, and consulting services.
Based on enterprise size, the global cloud video intercom platform market can be further divided into large-sized enterprises and small and middle-sized enterprises (SMEs). The large-sized enterprises segment is estimated to account for a prominent share of the cloud video intercom platform market owing to rising investments and rapid adoption of cloud video intercom platform. On the other hand, low capital investments are further boosting the small & middle-sized enterprises segment of the market. Based on end-user, the market can be split into individuals and corporate. The corporate segment can be further sub-segmented into IT & telecom, transportation and logistics, banking, financial services and insurance, i.e. BFSI, consumer goods and retail, government and public sector and others.
In terms of region, the global cloud video intercom platform market can be segmented into North America (NA), South America (SA), Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). North America is estimated to hold a dominant share of the global cloud video intercom platform market, in terms of revenue, followed by Europe, during the forecast period. The market in North America is projected to expand considerably and account for a notable share of the global cloud video intercom platform market during the forecast period. The U.S and Canada are estimated to contribute significantly owing to increasing investments in research and development of companies and technological advancements in the region. However, among all the other regions, Asia Pacific is expected to offer significant opportunity to players operating in the cloud video intercom platform market due to rapid industrialization and high rate of adoption of cloud technology in the region. In Asia Pacific, Japan, China, India, South Korea, and Singapore contributed significantly to the expansion of the market in the region.
Key players operating in the global cloud video intercom platform market include AlphaTouch, CloudApp, AKUVOX, Panoply Ltd., UBM plc., Schonell, Alpha Communications, CTC Communications, and Runs Like Butter, Inc. Key vendors in the cloud video intercom platform market are majorly focusing on the introduction of new and advanced solutions offering customized features in order to consolidate their position in the market. Vendors operating in the market are also emphasizing on the development of solutions to diversify their portfolio in order to cater to the requirements of end-users. Moreover, these players are focused on transforming their pricing packages in order to strengthen their position in the global cloud video intercom platform market. These vendors primarily compete in terms of customer engagement or customer relationship and the way they meet and address expectations of their end-users.
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