APAC region which includes China, India, Japan, South Korea, Australia, New Zealand & some other countries. Increasing number of population coupled with the rise in the household size has been promoting the need of new residential construction activities in the highly populated economies including China, India and so on countries. Over the past few years, the construction sector has witnessed tremendous increase primarily due to the increasing trends of urbanization in APAC region. Indian government has been taking active measures to construct 29.5 million residential homes by the end of 2022 as a part of smart cities under ‘Housing for All’ scheme.
In addition, the apartment construction has been growing briskly in the economies including Australia, India, South Korea & so on economies and are projected to continue fuel market growth of video intercom devices in respective countries. Home automation market in APAC is estimated to witness significant growth over the next decade and is projected to be dominated by the developed economies including Japan, Australia & New Zealand and South Korea. Home automation in China is growing owing to the government’s initiatives for converting 200 Chinese cities into smart cities under five-year plan and this policy also aims to regulate the increasing crime rate in China.
Additionally, APAC is having numerous facilities which includes educational institutions and other public buildings which is projected to augment the number of opportunities for these devices owing to the increasing terrors threats in countries including India, Japan and many others. Japan has witnessed the decrease in crime rates from 2002, however, among the past few years, there has been an increase in crimes on elderly women living alone has been stimulating the adoption of these systems in this country. Additionally, increasing usage and wireless communications coupled with the integration of video intercom devices with wireless devices for better connectivity have been fueling the market demand for these devices.
IndustryARC is a global market research and business consulting firm based out of India. We have research centers across Asia and Europe with consultants experienced in the following verticals – Agriculture, Automotive, Chemicals and Materials, Energy and Power, Food and Beverages, ICT, Electronics, Life sciences and Healthcare, Automation and Instrumentation.
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