Philippines Electronic Security Industry Revenue is Expected to reach around PHP 15,500 million by 2024: Ken Research

      • Competition in both the product and installation of the electronic security market is expected to be fierce in the future due to the new entrants in the product suppliers and also the rise in the number of system integrators
      • 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 possess a large product portfolio of electronic security products. The market also consists of several unorganized players competing on the basis of prices.

philippines-electronic-security-market-outlook

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.

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: –

Philippines Fire Alarm Market Key Players

Philippines Access Control Market

Philippines Fire Alarm Market

Philippines Specialty Devices Market Share

System Integrators Market Philippines

Growth Drivers Electronic Security Market

Margins Electronic Security Market Philippines

Philippines Fixed CCTV Camera Market

Philippines Card Readers Access Control Systems Market

Philippines Biometrics Access Control Systems Market

Philippines Keypad Access Control Systems Market

Philippines Motion Sensor Intrusion Detection Systems

Philippines Infrared Beam Sensor Intrusion Detection Systems

For More Information On The Research Report, Refer To Below Link: –

Philippines Electronic Security Market Research Report

Related Reports by Ken Research: –

Middle East Electronic Security Market Outlook to 2022 – By Monitoring and Surveillance (CCTV, Access Control and Intruder Detection), Restricted Entry Systems (Traffic Barriers, Turnstiles, Detectors, Automated Gates, Traffic Bollards)

Middle East Cyber Security Market Outlook to 2022 – By Solutions (Firewall, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Unidentified Threat Management, Disaster Recovery) and By Region

Turkey Electronic Security Market Outlook to 2021 – Rising Tourist Safety Concern from Looming Threat of Neighbouring Countries Will Drive Market Growth

Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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