Over the past two years, there has been a mixed sentiment for the security industry in Singapore. Although there are projects from both government and commercial sectors, small security companies are losing competition to established security companies due to their willingness to secure projects at a lower margin. “Alt
Over the past two years, there has been a mixed sentiment for the security industry in Singapore. Although there are projects from both government and commercial sectors, small security companies are losing competition to established security companies due to their willingness to secure projects at a lower margin. “Although with the release of multiple tenders from the government, only established security companies are able to bid due to their financial and bid qualifications. This leaves the small security company with only small projects with intense competition with barely little margin to cover their overheads,” said Ken Lee, Sales Director at
KZTech.
In regard to Singapore’s implementation of the safe city test bed initiative, Lee expects the safe city vision will come true with the government’s support on high speed internet, island wide wireless connectivity and big data market. Singapore has paved its way to a world of smart technology, with plans to combine intelligent solutions with more projects in the future. “There are already many analytical software companies entering into the market, and projects from both the commercial and government sector putting VCA as part of the package.”
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