IC Press Release

Intercom systems struggle with stagflation

In 2023, the market volume of intercom systems in the top 9 European countries will only decline by 5.7% in value, with total sales of around € 1 billion. According to a study by Interconnection Consulting, sales in volume fell by 9% last year.

The market for intercom systems is characterized by stagflation. Falling demand is offset by rising prices. However, rising prices have only partially compensated for falling demand. Prices have risen sharply in recent years due to the shortage of raw materials caused by the Ukraine crisis, among other things. Average prices are expected to rise by 3.6% in 2023. The author of the study expect prices to rise by a further 2.8% in 2024.

Germany crashes

The countries analyzed in the study developed very differently, depending on the respective construction sector. Germany had the strongest negative impact on the overall result. The largest market for intercom systems in Europe plummeted in value by 15.6% in 2023. The UK also plummeted by around 8%. Switzerland, Poland and Austria also recorded single-digit percentage declines in value. The Spanish market achieved the strongest growth with an increase of 6.8%, followed by Italy, Belgium and France, all of which increased their nominal sales compared to 2022. Interconnection expects an average annual growth of 3.1% in value in the top 9 European countries until 2026.

Video is becoming more important

The lowest price segment had a market share of 69.1% in volume terms in 2023, followed by the medium segment (18.4%) and the premium segment with 12.5%. However, there are signs of a shift in market share in favor of higher-quality systems, explains Johannes Lözelt, author of the study. The premium segment is also forecast to see the strongest growth in the coming years. Although wireless intercom systems (9.3%) and intercom systems with mobile communication (13.6%) will still have a relatively small market share in 2023, but this will increase significantly over the next few years. The quantity share of external systems with audio & video will also increase from 48.0% in 2023 to over 49.8% by 2026. The most important companies in alphabetical order are 2N Telecommunication, Commend, Doorbird, Legrand, Ring, Siedle and Urmet.

Link to the report

07/06/2024

Copyright: Interconnection, Publication free of charge for coverage regarding the study and InterConnection Consulting.

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