Thailand’s security technology market to reach us$110 million in 2017: Messe Frankfurt

Thailand’s security technology market to reach us$110 million in 2017: Messe Frankfurt
Messe Frankfurt, the organiser of Secutech Thailand 2017, predicts that the global security technology market will hit $100 billion in 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 3.5 billion baht (about US$110 million) in 2017. Other driving forces will come from extended vertical application of security technologies, in fields like 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 be showcased at Secutech Thailand 2017, to be held Nov. 16-18.

Veronica Chen, group manager of Messe Frankfurt New Era Business Media Ltd, 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 research institute IDC, global revenues for safety technology are projected to exceed US$100 billion by 2020. The physical security product market is expected to increase from US$69.63 billion in 2017 to US$112.43 billion in 2021, registering an annual growth rate of 10.1 percent.

Secutech Thailand 2017, which is jointly organised by Messe Frankfurt New Era Business Media Co Ltd and Worldex GEC Co Ltd, 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.

The show will take place concurrently with Thailand Lighting Fair 2017 and Thailand Building Fair 2017 at BITEC, in Bangkok.

Thailand’s booming market

Thailand’s security solutions market this year is expected to be worth 3.5 billion baht (US$110 million) and is expected to grow by 10-12 percent in 2018.

The country’s mega projects to expand transportation networks mean even 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 Internet of Things related innovations. Smart city development along with security requirement to meet government standards is also an important factor to drive market growth.

HIP Global focuses on security technology

Two of the largest exhibitors at Secutech Thailand 2017 will be HIP Global and Hanwha Techwin.

Tony Yang, president of HIP Global Co Ltd, says that the security technology is progressing on a noticeable upward path. The company has specialized in the security market for more than 15 years. It pioneered in the fingerprint scanning market under the HIP brand.

Currently HIP Global has more than 1,500 security products, 2,000 public and private customers, and owns a 60-percent market share in 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 is an original equipment manufacturer, original design manufacturer and provides services to create a full-fledged security business. Its overseas markets include the US, China, Hong Kong, India, Turkey, Argentina, Spain, Myanmar, Laos, Vietnam, Cambodia, Malaysia, Singapore, Indonesia and Saudi Arabia. The company plans to expand its customer base to North America and Europe within the next two years.

Hanwha techwin stays optimistic

Sumet Sirisantisumrit, country manager of Hanwha Techwin Co Ltd says, “New security technology will certainly emerge. Hanwha Techwin, as a developer of security technology solutions, is offering CCTV products through both analog and IP Network IP (WISENT HD) CCTV system, 2-megapixel high-resolution analog and WISNET Q, X, P Series high-resolution 2 megapixel IP CCTV 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,” Sirisantisumrit said.

For this year, the company has set a marketing target of about 20 percent, worth about 210 million baht, 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.

The company plans to develop new products and solutions to expand the market to transportation and industrial sectors
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