Press release
Philippines Electronic Security Industry Revenue is Expected to reach around PHP 15,500 million by 2024: Ken Research
• Technological advancements in the industry are expected to drive the growth in the demand for electronic security systems in the country. New technologies such as Wireless based technology, IoT, AI, and others increase the benefits of the products and hence, enhance the usability for the customers.
End Users: The electronic security market in the Philippines has witnessed a growth in recent years on an account of rising demand from the government, banking and commercial sectors. The surge in growth is majorly originated from growth in video surveillance systems as a segment of the electronic security market. The growth in this segment has been largely led by the government’s massive investment in public infrastructure development. The electronic security market in the Philippines is comprised of a few large companies such as Hikvision, Dahua, Uniview, Honeywell, Bosch, and Tyco which posses a large product portfolio of electronic security products. The market also consists of several unorganized players competing on the basis of prices.
Future Product Growth: IP-based video surveillance systems are expected to drive the growth of video surveillance systems by enlarging the sales of analog-based systems. On the other hand, biometric-based access control systems will gain more popularity and contribute a significant share to the market revenue by 2024. Technologies such as RFID and smart cards are expected to gain tremendous growth in the forthcoming years. Integrated electronic security systems designed by combining multiple security systems will be deployed to enhance efficiency and improve security infrastructure. Increased investments will be made by different verticals to upgrade their security systems and incorporate the latest technology devices.
Research Analyst at Ken Research in their latest publication “Philippines Electronic Security Market Outlook to 2024 - Emergence of Technology Integrated Electronic System and Growth in Infrastructure Projects”, believes that technology innovation is an integral contributor to the success of any organization. Companies have to upgrade their technology and products so as to add value to their products and to have an edge over their competitors. Large companies devote adequate time and manpower in R&D and innovation and thus are able to evolve with the changing technology, while small and local companies that fail to upgrade their products or adopt advanced technologies are unable to compete in the market. The market is anticipated to register a positive CAGR of ~11.2% in terms of revenues during the forecasted period 2019P-2024.
For More Information On The Research Report, Refer To Below Link:-
https://www.kenresearch.com/defense-and-security/security-devices/philippines-electronic-security-market-outlook/303062-16.html
Key Segments Covered:-
By Channel of Sales
System Integrator Led
Direct Sales
By Product and Installation & Accessories
Product
Installation & Accessories
By Type of End Users
Residential Sector
Non- Residential Sector
Product by Type of Sector
Organized Sector
Unorganized Sector
Product by Type of Product
CCTV Camera
Fire Alarm Systems
Access Control Systems
Intrusion Detection Systems
Specialty Devices
By Type of CCTV Camera
Fixed CCTV Camera
PTZ CCTV Camera
360 Degree Camera
By Type of CCTV Camera
IP Camera
Analog Camera
By Type of IP Camera
Wireless Camera
Non-Wireless Camera
By Type of Camera Housing
Dome
Bullet
Discreet
CCTV By Type of Region
Luzon
Visayas
Mindanao
CCTV Camera By End Users
Residential
Non-Residential
By Type of Fire Alarms
Conventional
Addressable
By Type of Detection
Heat Detectors
Smoke Detectors
Fire Alarm By Type of Region
Luzon
Visayas
Mindanao
Fire Alarm By Type of End-user:
Residential
Non- Residential
By Type of Access Control
Card-Based
Hybrid (Integration of Two or Three Access Control Systems)
Key Pad
Biometric
Access Control By Region
Luzon
Visayas
Mindanao
Access Control By Type of End Users
Residential Sector
Non-Residential Sector
By Type of Intrusion Detection Systems
Motion Sensors
Infrared Beam Sensors
Seismic Detectors
Intrusion Detection System By Type of Region
Luzon
Visayas
Mindanao
Intrusion Detection Systems By Type of End Users
Residential Sector
Non-Residential Sector
By Type of Specialty Devices
Barriers
Scanners
Metal Detectors
Specialty Devices By Type of End Users
Residential sector
Non-Residential Sector
Key Target Audience
Existing Electronic Security Manufacturers
System Integrators
New Market Entrants
Government
Electronic System Retailers and Online Suppliers
Time Period Captured in the Report:
Historical Period: 2014-2019
Forecast Period: 2019-2024E
Key Companies Covered:
OEM
Hikvision
Panasonic
Axis
Bosch
HID (Hong Kong)
UTC (U.S.) – Lenel, Interlogix
Tyco (US) – C-Cure
ICT (New Zealand)
Honeywell
Simplex
Eduards
Nohmibosai
Hochiki
System Integrators
MEC Network Corporation
Net Pacific Inc.
DTSI (as of March)
Esscor
Guard All
I3 Technologies
EVI Distribution Inc.
Alcon Philippines Technologies and Solutions
Infinite Systems Technology Corporation
Right security solutions
Mustard Seed Systems Corporation
Key Topics Covered in the Report:-
Executive Summary
Research Methodology
Philippines Electronic Security Market Overview and Genesis
Philippines Electronic Security Market Value Chain Analysis
Philippines Electronic Security Market Size, 2014-2019
Philippines Electronic Security Market Segmentation
Competitive Scenario in Philippines Electronic Security Market
Company Profiles of Major Players in Philippines Electronic Security Market
Major Trends and Development in Philippines Electronic Security Market
Issues and Challenges in Philippines Electronic Security Market
Snapshot on Philippines System Integrators Market
Emerging Technologies in the Philippines Electronic Security Market
Government Role and Regulations in the Philippines Electronic Security Market
SWOT Analysis of Philippines Electronic Security Market
Philippines Electronic Security Market Future Outlook and Projections, 2019-2024E
Philippines Electronic Security Market Future Segmentation, 2024E
Analyst Recommendations for the Philippines Electronic Security Market
Related Reports by Ken Research:-
https://www.kenresearch.com/defense-and-security/security-devices/middle-east-electronic-security-market/168983-16.html
https://www.kenresearch.com/defense-and-security/security-devices/middle-east-cyber-security-market/160752-16.html
https://www.kenresearch.com/defense-and-security/security-devices/turkey-electronic-security-market/94374-16.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity, and economy reports. We provide business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies
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