- Improving technology and customer willingness to pay premium for quality products will help in augmenting market revenue of electronic security devices.
- Government keen interest to secure its citizens and ensure security of its tourism industry will lead to investment in electronic security market. This will create growth opportunities for all type of electronic devices in Turkey.
- Refugee maintenance and to curb the growing threat from extremist to further boost the market for electronic security in Turkey.
Market for electronic security devices in Turkey is expected to register positive growth. It will be mainly driven by demand for new and modern electronic security devices for replacement. Improved technologies such as 4K technology bring industry leading clarity and sensitivity to critical video monitoring and surveillance systems. Explosion-proof cameras are an important solution in areas which are on high risk. Turkey is expected to implement (electronic traffic inspection system) TEDES in many of its cities. This will lead to additional demand for electronic security devices as well as R&D in the sector. It is expected that CCTV will continue its dominance in the electronic security market in Turkey.
Based on analyst recommendation easing restrictions on foreign lenders, private sector involvement in the financing and construction of education infrastructure, security for small and medium businesses are some other key factors that will have positive impact on the market creating additional and replacement demand in the future as per the analyst, Ken Research.
Ken Research in its report, “Turkey Electronic Security Market Outlook to 2021 – Rising Tourist Safety Concern from Looming Threat of Neighboring Countries Will Drive Market Growth” suggested that Turkey is expected to implement (electronic traffic inspection system) TEDES in many of its cities. This will lead to additional demand for electronic security devices as well as R&D in the sector in 2019-2021. Key business opportunity exists for upgradation of existing electronic security system to reduce the cost implication for consumers.
The report provided information on CCTV (Analog, Digital), Fire Alarm, Access Control Devices (Biometric Based, Card Based, Pin Based), Intrusion Alarms (Motion Alarms, Seismic Alarms, Infrared Beam Alarms) segments.
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Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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