“Emergence of new technology integrated electronic security systems launched in the market by the local players and Shift towards Wireless Technology-Based Systems has supported Market Growth”.
Emergence of Technology Integrated Electronic Security Systems: There has been an emergence of new technology integrated electronic security systems launched in the market by the local players. For instance, a local safety and security device provider namely MiGuard recently launched an Internet of Things (IoT) based alarm system to cover the residential market. It also launched a wireless-based technology alarm for homes. The IoT based alarm system has offered a lot of Filipinos affordable security systems. MiGuard wirelessly connected and controlled up to 100 devices by the MiGuardWiFi and GSM Console due to the IoT based alarm system. Another latest technology in an alarm system is the IP based dual path transmission technology. This is a secure and managed type of technology that gives the benefit that the communication from one alarm panel to the central monitoring receiver is intact. The new technology-based alarm systems are mostly used in the business and corporate settings.
Rising Government Projects: In the year 2018, Projects such as “Safe Philippines” were declared by The Department of the Interior and Local Government (DILG) to install 12000 CCTV Cameras in Metro Manila and Davao cities to reduce crimes and increase response time. A contract of PHP 396.8 million was signed with China International Telecommunication Construction Corporation (CITCC) regarding the monitoring and installation of the CCTV cameras. The “Build Build Build” program was initiated by the President Rodrigo Duterte to increase the infrastructure spending from 5.4 percent of the country’s GDP in 2017 to 7.3 percent by the end of his term in 2022. The government will spend around PHP 8.4 trillion in an infrastructure plan which aims to facilitate the flow of capital, goods, and people nationwide in every region in the country.
Shift towards Wireless Tech-Based Alarm Systems: Filipinos have started shifting towards wireless technology-based alarm systems since they are easy to install and the components of a wireless security alarm system can be moved to different locations in the home. The wireless home security alarm system works through a transmitter. Each component has a transmitter that sends signals to the central control receiver of your alarm system. When a transmitter is activated, the central control receiver sounds an alarm. It seems simple enough but with the more costly wireless alarm systems, not only does an alarm sound off but it is also able to indicate which particular device was triggered.
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”, believe that the companies can expand their sales target team and a particular department can primarily focus on capturing government projects. They should fill out suitable government tenders and carry out other necessary steps that are required to win a government tender. A number of such tenders are high-value projects which could prove to be highly beneficial not only in terms of revenue but also in terms of brand value. 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:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
