Messe Frankfurt, the organizer of Secutech Thailand 2017, expects the global security technology market will hit US$100 billion over the next three years as a result of higher security requirements and intelligent solution upgrades.
The Thai security market is expected to follow suit with total market value up to $110 million in 2017. Additional driving forces will come from extended vertical application of security technology such as smart city development, smart retails and smart homes. To serve such rising demand, Messe Frankfurt will bring the latest security technologies from around the world to showcase at Secutech Thailand 2017.
Veronica Chen, group manager of Messe Frankfurt New Era Business Media (MFNE) says that security technology is part of people's daily life around the world in order to maintain security and safety in the country, residences, vehicles and the workplace.
“With these factors, we believe that the security equipment and solutions market will continue to grow, especially in Asia and Thailand,” she says.
According to IDC data, global revenues for safety technology are projected to exceed $100 billion in 2020. The physical security market is expected to increase from $69.63 billion in 2017 to $112.43 billion by 2021, with a CAGR of 10.1 percent between 2016 and 2021.
Thailand's security solutions market this year is expected to be worth $100 million and is expected to grow by 10-12 percent over the next three years. In addition to video surveillance cameras, video surveillance will be more on demand for real-time data collection to ensure maximum security and accurate data analytics.
The country's mega projects to expand its transportation network mean more demands for security equipment. The extended application of security solutions for several vertical sectors such as smart retail, smart building and smart transportation will also result in more demands, thanks to IoT (Internet of Things). Smart city development coupled with safety to meet government policy is an important aspect that will drive this market growth further.
Two of the largest showcases at Secutech Thailand 2017 will be those of HIP Global and Hanwha Techwin.
Tony Yang, President of HIP Global, says that security technology is on a noticeable upward trend. The company has been specializing in the security market for more than 15 years because of current high security needs, and has been pioneering the fingerprint scanning market under the HIP brand.
Currently, HIP Global has more than 1,500 security related products, 2,000 public and private customers, and a 60 percent market share of the Thai security market. Its one-stop service and security products include equipment for fingerprints, face scans, car parking, folding gates, suspension gates, turnstiles, flip gates, RFID, and access control.
HIP also provides OEM, ODM and other business-type services to create a full-fledged security business. Overseas markets include the US, China, Hong Kong, India, Turkey, Argentina, Spain, Myanmar, Laos, Vietnam, Cambodia, Malaysia, Singapore, Indonesia and Saudi Arabia. The company is ready to expand its customer base to North America and Europe within the next two years.
Sumet Sirisantisumrit, Country Manager of Hanwha Techwin said, “New security technology will certainly emerge. Hanwha Techwin, as a developer of security technology solutions, is offering video surveillance products both analog and IP Network IP (WISENT HD) video surveillance system, 2-megapixel high-resolution analog and WISNET Q, X, P Series high-resolution 2 megapixel IP video surveillance network up to 4K quality.
“The company is expected to be able to meet all customer needs and solutions that are ready for all market segments.”
For this year, the company has set a marketing target of about 20 percent, worth about $6.2 million, focusing on value-added solutions for its core customers. Specifically, the retail group will focus on smart retail solutions and business video analytics, such as Heatmap, Counting People and Queue Management, to help customers record information for marketing and promotional purposes together with the security system to record simultaneously.
The company also plans to develop new products and solutions to expand the market to the larger core businesses, namely transportation and industrial.
Secutech Thailand 2017, which is jointly organized by Messe Frankfurt New Era Business Media and Worldex GEC Co, is the leading platform for security, fire and safety and smart home technology for ASEAN, where industry professionals can meet, learn and search for the latest technology.
Secutech Thailand 2017 will take place concurrently with Thailand Lighting Fair 2017 and Thailand Building Fair 2017 on 16-18 November 2017 at BITEC, in Bangkok.