Electronic security system is a specific type of electronic system that performs various security operations such as alarm, access control, surveillance or intrusion control for a facility or area that uses the power of the network and also an energy backup such as a battery etc. The system also includes a variety of operations like electrical and mechanical gear. Its determination is entirely based on the area to be protected and its threats. Increasing cases of property theft and break-ins are another important factor contributing to the growth of the market. Both private and government organizations use electronic security solutions for monitoring the occurrence of terrorist activities including smuggling, shootings and bombings in sensitive & high-risk locations. Furthermore, increasing willingness of the authorities to secure public transport and infrastructure, such as power grids, waterworks, oil and gas systems, is also driving market growth.
Referring to the study, Malaysia Electronic Security Equipment Market Outlook to 2018 – Increasing Demand for CCTV Cameras to Spur Growth some of the key companies operating in the Malaysia electronic security equipment market include Panasonic Corp, Samsung Electronics Co. Ltd, Hikvision Digital Technology Co. Ltd., Honeywell International Inc, LG Corp, Dahua, Bosch and among others. Renowned players are focusing on providing new solutions, including various wireless sensors.
Based on product type, Malaysia electronic security equipment market can be segmented as biometrics, alarms, video surveillance system, access control systems and metal detectors. Video surveillance system holds major share in Malaysian market as it is used for wide applications such as facial recognition, smoke detection, video monitoring from remote location and automatic identification of the vehicle number plate.
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Growth in penetration of home security solutions, followed by rise in demand for wireless & contactless technologies, growth in economy, high risks associated with the terrorist attacks, rise in demand for CCTV and video surveillance, growth in technological advancements in security electronics, rise in disposable income, increase in government initiatives and policies to promote use of security equipment, rise in trend of automation & smart technology and growth in emphasis on technologically advanced radars, night vision equipment and surveillance systems are some major factors, which are responsible for growth of the Malaysia electronic security equipment market. In addition, rapid urbanization and ongoing globalization have increased the requirement for advanced security solutions in the industries and fueled the expansion of the industry. Apart from this, lack of technical knowledge to use the security systems and high costs associated with security system electronics may impact the market.
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Malaysia Electronic Security Equipment Market Analysis
It is projected that Malaysia electronic security equipment industry will be reached at rapid pace a result of growth in social awareness regarding use of security equipment against crimes, increase in usage of cloud-based access control solutions, growth in instances of organized crimes like property theft, smuggling, and rise in spending to protect the critical infrastructures including trade centers, government headquarters, airports, banks, and enterprise facilities during the forecast period.
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