With the opening of local economies, emerging markets in the ASEAN region are experiencing an influx of foreign investments coupled with new infrastructure developments. The fast-paced growth also increases security demands, with governments placing more emphasis on the implementation of physical security systems and solutions in order to secure the premises, assets and its people. As a thought leader in the security and surveillance arena, Sony sees the tremendous potential of growing this business across the ASEAN region.
With the opening of local economies, emerging markets in the ASEAN region are experiencing an influx of foreign investments coupled with new infrastructure developments. The fast-paced growth also increases security demands, with governments placing more emphasis on the implementation of physical security systems and solutions in order to secure the premises, assets and its people. As a thought leader in the security and surveillance arena,
Sony sees the tremendous potential of growing this business across the ASEAN region.
“Sony’s reputation as the industry-leading technology innovator, solutions provider and trusted business partner showcases our offering goes beyond the dated vendor/customer practice. We concentrate on building relationships that empower our partners and customers,” said Riki Nishimura, GM of Visual Security Solutions Division, Professional Solutions Company (PSAP) at Sony Electronics Asia Pacific. “With the whole gamut of video security products, we are confident in providing solutions that cater to specific needs of our clients and ensure that it will be an effortless process for them. For example, Sony’s latest 4K video security camera (SNC-VM772R) aims to address the concerns of our business partners to achieve both high resolution and high sensitivity while battling the increased system costs.”
Government as a core driving force
Nishimura observed that the core driving force in these emerging markets would be government bodies followed by the banking/financial and retail sectors. “Increasingly, financial institutions are enhancing their surveillance systems to meet security, regulatory and compliance demands, while addressing their concerns for efficiency and productivity. On the other hand, retail market is also booming with the opening of more high-end boutiques which require higher security requirements.”
He also remarked that the hospitality sector could be one of the new opportunities for the security industry.
“Tourism is a huge economic driving force for these emerging markets. With the rising numbers of hotels and entertainment establishments, we foresee that this will generate demands for security and surveillance solutions.”
Challenges in the distribution market
Nishimura highlighted the possible challenges in the distribution markets of these countries especially for new foreign players. Apart from cultural taboos as well as possible language barrier, finding the ‘right’ local partner would be the key to effective market penetration. These ‘right’ partners will be able to facilitate and expedite market entry with their in-depth knowledge and established networks and assist new players to establish a foothold within the market. In addition, there may be limits on new players through licensing requirements, restricted access to raw materials, product testing regulations, among other constraints. Nonetheless, Nishimura remained positive and stressed the importance of understanding the regulatory framework within these markets.
“It is important that products meet the local standards apart from the global ones. This will definitely boost consumer confidence and reputation of the company in the long run.”
Looking ahead
Apart from immediate installation demands driving these emerging markets compared to other more developed regions, Nishimura commented that 4K imaging will soon be a global video security standard. “It is more than just increased resolution. It is expanding the application potential of security cameras and helping to transform security and surveillance. For example, the SNC-VM772R has received overwhelming responses across Europe and the product promises to be a real game changer for the market as customers unlock the true value of 4K imaging.”