The Indonesian electronic security market is set to post strong growth in the coming years backed by factors like rising security concerns, increasing government security spending and surging IT infrastructure. According to a recent report from 6W research, the country’s video surveillance market is projected to rea
The Indonesian electronic security market is set to post strong growth in the coming years backed by factors like rising security concerns, increasing government security spending and surging IT infrastructure.
According to a recent report from 6W research, the country's video surveillance market is projected to reach $203.14 million by 2022.
The recent terror attacks in the Indonesian capital Jakarta has prompted the government to shore up its city surveillance systems. The authorities plan to install about 6000 cameras in the capital city alone. This could be a major growth factor for the market. It could be supported by developments in the tourism industry, growing commercial sector, new infrastructure, and transportation projects etc.
Analysts noted that IP technology is still in its infancy in the market but the situation could change in over the decade as its advantages become more apparent and the costs go down further.
“Analog video surveillance systems accounted for majority of the revenue and volume shares in Indonesian market owing to low pricing and ease of installation. However, by 2022, IP video surveillance segment would lead the overall market in terms of revenue,” said Prijo Samuel, Senior Research Analyst, Research and Consulting at 6Wresearch. “Declining prices, improved image quality, better remote monitoring capability, higher demand for scalability and development of new infrastructure in major cities are some of the reasons that would fuel IP video surveillance segment market.”
Rishi Malhotra, Research Associate, Research and Consulting at 6Wresearch further added that amongst all verticals, commercial office, government and transportation and banking & financial are the leading revenue generating verticals in the Indonesian market. These verticals would register growth on the back of surging number of ATMs, bank branches, commercial offices and various public infrastructures.
“Upcoming 2018 Asian Games, Mass Rapid Transit project, Light Rail Transit project, expansion and construction of new airports, seaports, SEZ, toll roads, railways and industrial estates would drive the market for video surveillance systems in Indonesia”, Malhotra said.