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Demand for IP Video Surveillance Boosts Northeast Asia Video Surveillance Market Finds Frost & Sullivan - Government Support for Large-scale Security Projects Steps up Pace of Market Growth - Autoid.Frost.com
Demand for IP Video Surveillance Boosts Northeast Asia Video Surveillance Market Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Singapore, Singapore, 2011/09/06 - Government Support for Large-scale Security Projects Steps up Pace of Market Growth - Autoid.Frost.com.

   
 
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Estimates reveal that the total Northeast Asia video surveillance market was valued at US$525.3 million in 2010. The market comprises two mature countries - Japan and South Korea, in terms of video surveillance prevalence, and continues to grow at a compound annual growth rate (CAGR) of 20.3 percent. This can be attributed to various mandates in these countries, falling prices of IP video surveillance, initiation of a number of large-scale security projects and, most importantly, government support for these projects.

Japan had to face a financial crisis in 2009; also, the earthquake and tsunami in 2011. Both these events have curbed government spending and resulted in fluctuating growth rates in the video surveillance sector. South Korea has remained relatively stable, showing consistent growth over the years.

New analysis from Frost & Sullivan (autoid.frost.com), Northeast Asia Video Surveillance Markets, finds that the market has been showing promising growth in video surveillance and can look forward to numerous pilot projects in the future.

"Participants in both these countries are very confident of the market share of IP surveillance taking over analog surveillance within the next 3 to 5 years," says Frost & Sullivan Industry Analyst Navin Rajendra. "This is evident from the magnitude of projects being implemented which would not be properly managed by analog surveillance systems in terms of finance and operation."

The private sector is now employing video surveillance for the service as well as the manufacturing industries as a tool to monitor and expedite efficiency. Going forward, the impetus from both the government and private sector will stoke growth in these mature markets. Japan, South Korea and China are the top revenue generators to the video surveillance market in Asia.

"Companies such as Axis, Panasonic, Sony, and Mobotix continue to dominate the market at the high end," says Rajendra. "Looking at the low and medium end, there are many small tier companies that have been performing well with ample scope for growth."

Samsung, Techwin, LG, Truent and ICanTek continue to dominate the high-end market in South Korea.

Although the prospects for the market look upbeat, there are some challenges restraining market progression. The high degree of competition, particularly at the mid-level tiers, is clouding the market landscape. Issues surrounding integration with legacy systems are slowing market momentum.

Currently, many of the video surveillance systems are part of an integrated security system involving many vendors from the biometrics, key pads and smart card access control segments. The system integrator would be responsible for selecting the vendor for each of these projects and would have to ensure interoperability between these systems. Participants in this space must immediately address interoperability concerns for auto identification technologies to put the market on the fast track to progress.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Northeast Asia Video Surveillance Markets is part of the Automatic Identification & Security Growth Partnership Service program, which also includes research in the following markets: Peering into Asia Pacific RFID Post Crisis and The Physical Security Market in Asia Pacific - Better Positioned to Face the Economic Downturn. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (visit frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Northeast Asia Video Surveillance Markets / P51C

 
 
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Demand for IP Video Surveillance Boosts Northeast Asia Video Surveillance Market Finds Frost & Sullivan

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