Research and Markets announced the addition of Frost & Sullivan's new report “Asia Pacific Oil and Gas Infrastructure Security Market.”
The steadily growing Asia Pacific oil and gas infrastructure security market is expected to get a boost with the greater spending by oil and gas companies on infrastructure protection, refinery expansion and upgrades of security systems in wake of terrorist attacks, sabotages and other crimes. As Asia Pacific is the largest consumer of oil and gas, governments and energy companies have accorded priority to protecting the infrastructure of oil and gas installations, with some countries even mandating the deployment of security systems. Expansion and upgrades of refining plants are likely to open up opportunities for security system providers to offer advanced and integrated security systems for critical infrastructure.
As most oil and gas companies already have basic security systems in place, they will be upgrading their security devices to network-based real-time systems. End users will be looking for integrated solutions from a single source. However, an open platform that could integrate devices from different manufacturers is likely to benefit both local companies and end users. “Companies should also continually offer innovative systems and add capability to existing product line,” said a Frost & Sullivan analyst. “Providing compatible systems with modularity will allow customers to upgrade their systems with ease.”
Another technology trend that is gaining currency is the convergence of Internet Protocol (IP) technologies with physical security systems. Major IT companies have entered the infrastructure security systems market and are providing integrated security solutions. Therefore, system integrators are beginning to dominate the market through the offer of customized security solutions. “Consequently, physical security's convergence with IT brings more participants from the IT and network domain,” said the analyst. “Security companies must gain IT expertise and provide complete networked solutions to be successful.”
Participants should also diversify their product portfolios and offer a wide range of products. Companies sticking to a single technology and segment will find it difficult to survive in this highly fragmented market. Consolidation will be the way forward to achieve price and technology stabilization.
This Frost & Sullivan research service titled “Asia Pacific Oil and Gas Infrastructure Security Market” provides quantitative overview of security spending in the Asia Pacific region within the oil and gas critical infrastructure protection markets. It identifies the key market drivers, restraints, industry challenges and provides strategic recommendations for companies that wish to enter the market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: perimeter security and intrusion detection systems, surveillance systems and biometric and access control systems.