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Growing Base of Techno-savvy End Users Energises the Asia Pacific Physical Security Market - Concerns surrounding privacy continue to be a roadblock for the market
Growing Base of Techno-savvy End Users Energises the Asia Pacific Physical Security Market

 

NewswireToday - /newswire/ - Singapore, Singapore, 2011/08/09 - Concerns surrounding privacy continue to be a roadblock for the market.

   
 
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The Asia Pacific physical security market has been witnessing steady growth in biometrics and video surveillance programs. In addition, there has been a steady change in the market dynamics with mega trends emerging as well as with various government initiatives that would continue to drive the demand for physical security systems in the future. By 2020, Asia will be the largest contributor of the Gen Y population, which will be more technologically aware and receptive to new security systems. This is an indication that as security systems become more advanced, consumers will also be more receptive, thus allowing for greater coverage over the coming years.

For instance, in Japan, the palm vein scanner was developed to address the issue of cleanliness and hygiene during the verification/authentication process. Until then, biometric systems had not been used extensively.

"With lowering costs and smaller form factors, contactless biometrics can soon be seen in many mainstream applications of biometrics within the next 5 years," says Frost & Sullivan Industry Analyst Navin Rajendra. "Video surveillance, which is currently highly prevalent in the region, can witness further growth with security mandates being reinforced."

The shift to IP network cameras has increased revenue generation for security solution providers. There is a trend of IP surveillance being hosted/stored outside the premises in a databank. This reduces the cost for the end users in terms of warehousing for the surveillance videos. IP surveillance also allows for integration with facial biometrics.

Privacy issues have held back the deployment for many security projects in the region; however, this scenario will change drastically by 2020. Security system integrators and manufacturers will need to bridge the gap between the security and the IT world, adopt open standards and move away from proprietary solutions. This will be a move toward interoperability, which has been an impediment for security-based solutions.

In time, the Government will also realize the need for an open architecture to upgrade or increase the security of key institutions. There is a need for a holistic view of security that integrates different dimensions into a unified solution.

"With national ID projects and mobile payment applications expected to be utilized completely by 2020, one can also expect the employment of some more niche applications for verticals such as gaming and healthcare that require online security and verification," says Rajendra. "Mobile phones with biometric authentication will not only act as a key for the user to access his/her sensitive data on the phone, but will also serve as the authenticating key for bank and Webmail accounts and so on."

Competition with large firms is likely to put pressure on margins. Physical security companies need to build up network security capabilities that will boost margins. Partnerships, strategic alliances and M&As are a surefire route to build complementary skills quickly.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

360 Degree Perspective of the Asia Pacific Physical Security Market is part of the Automatic Identification & Security Growth Partnership Service program, which also includes research in the following markets: Peering into Asia Pacific RFID Post Crisis and The Physical Security Market in Asia Pacific – Better Positioned to Face the Economic Downturn. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

360 Degree Perspective of the Asia Pacific Physical Security Market / P462

 
 
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Growing Base of Techno-savvy End Users Energises the Asia Pacific Physical Security Market

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