PRLog (Press Release) - Sep 05, 2011 - Singapore – 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, 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 oled technology on mobile phone 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 t my photo and wallpaper he market on the fast track to progress.
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Northeast Asia Video Surveillance MarketsP51C
Contact:Donna JeremiahCorporate Communications – Asia PacificP: +603 6204 5832F: +603 6201 7402E: firstname.lastname@example.org
Carrie LowCorporate Communications – Asia PacificP: +603 6204 5910F: +603 6201 7402E: email@example.com
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