According to a report from Transparency Market Research, the global physical security market is expected to grow at a CAGR of 14.9 percent from 2013 to 2019, reaching market value of about US$125 billion by the end of this period. Asia Pacific is projected to see the highest growth, at a CAGR of 17 percent. With la
According to a report from Transparency Market Research, the global physical security market is expected to grow at a CAGR of 14.9 percent from 2013 to 2019, reaching market value of about US$125 billion by the end of this period. Asia Pacific is projected to see the highest growth, at a CAGR of 17 percent.
With large-scale spending estimated in segments like police and national security, solution providers are gearing up for some major developments in 2016. a&s recently interviewed Magnus Zederfeldt, Regional Director for South Asia Pacific at Axis Communications, to know more about the company's experience in 2015 and expectations of 2016.
a&s:What are some of the major factors that have influenced the South and Southeast Asian security industry in 2015? How did they influence?
Zederfeldt: The technology shift from Analogue to IP video systems continues according to expectation, the underlying drivers for this are both demand for broader integration with other systems as well as increasing demand for smart business applications. The Internet of Security (IoE) is happening both in the enterprise and Smart City installations. Today, basically all larger installations are specified for IP and open standard platforms, thus the demand for our solutions are very strong and will continue to grow. A negative factor during 2015 have been the weakening of some currencies which has affected approved budgets as it may sometimes be insufficient for the purchases.
a&s:How are they expected to influence the market in 2016? Why?
Zederfeldt:The market is expected to continue to grow and the technology shift is also accellerating in mid and small size installations. More and more customers, also with smaller systems, request the same video quality and basic IP functionality like remote monitoring as they have on their home TVs and smartphones. Demand for smart applications both for business and security needs are also increasing in smaller installations. A key driver here is ease of installation, in smaller systems where both installers and end customers expect plug-and-play solutions with smart capabilities.
a&s:Securities markets in which of the countries in South and Southeast Asia have done well in 2015? Which were the worst? Why?
Zederfeldt:We feel the demand is strong in all South and south east Asia for our smart safety products. In general there is an expectation of more than 20% market growth for smart IP solutions. Then, as stated above, there are external factors like weak currency that is affecting some countries more than others.
a&s:Which of the countries in the region are expected to see better growth for security industry in 2016? Why?
Zederfeldt:We expect that the demand for our products will continue to grow in 2016 , but it can also be subjected to unforseen external factors which will influence specific markets.
a&s:Could you give some major achievements of your company in the region in 2015?
Zederfeldt:Axis most successful launch in 2015 was not a product but a feature in all our new products – Axis' Zipstream technology . Optimized for video surveillance, Axis' Zipstream technology is a radically more efficient H.264 implementation, lowering bandwidth and storage requirements by an average 50% or more for many common 24/7 surveillance use cases, and without compromising quality or functionality in smart solutions. With the increasing demand for HDTV and even higher resolutions like 4K, Axis' Zipstream is a very good value to the customers. Axis has also expanded our range with more IOT devices like network video door controller and IP speakers. On the camera side there are both new exiting innovations as the award winning design AXIS Q61 camera series , and a complete high functionality and affordable range of network cameras.
a&s:Could you give an insight into your company's plans for the region in 2016?
Zederfeldt:We have a strong roadmap for products and capabilities that we will promote together with our application partners globally . We are involved in many exciting new projects in various verticals, including both government and enterprise projects. In general the demand for smart high quality solutions that expands security investments beyond surveillance to smart applications is a growing need.