Indonesia Video Surveillance Market Synopsis
Indonesia Video Surveillance Market is expected to grow in the coming years on account of rising government transportation projects such as construction of Phase 2 of Jakarta metro, MRT Phase 3 East-West Line, $224 million Indonesia Mass Transit (MASTRAN) Project.
The video surveillance market in Indonesia in 2020 registered decline due to covid-19, as all the economic activities came to standstill, therefore the construction sector also witnessed decline of 11%. Furthermore, due to the pandemic the government announced lockdown which led to temporarily shutdown of hotels, malls, offices etc. Moreover, 51% of total working class in Indonesia was forced to do work from home to maintain social distancing which resulted in temporary closure of public and commercial spaces leading to fall in demand for video surveillance in the country. However, the market in 2021 observed slight recovery on the back of upliftment of lockdown and due to the government initiative for installation of video surveillance security systems in various public places.
According to 6Wresearch, Indonesia Video Surveillance Market revenue size is anticipated to grow at a CAGR of 12.1% during 2023-2029. The rise in infrastructure projects such as Phase 2 of Jakarta metro, AMSL – Delta Mas City Mall, Jakarta 6 subway network expansion are expected to boost the market for video surveillance in Indonesia. Moreover, increasing crime rate in Jakarta and Bali would further drive the market for video surveillance in Indonesia as video surveillance systems would be installed to monitor safety and curb violent crimes. This sector is a pivotal part of the Asia Pacific Video Surveillance Market.
Rising crime rate is one of the major factors spurring the demand for video surveillance systems in the region. Additionally, Jakarta recorded around 52.44 crime index in 2021, while Bali recorded 48.37 per 1000 population crime rate which is rising from past 3 years. Moreover, Indonesia ranked 3rd of 11 of 11 countries in South-Eastern Asia and 9th of 46 countries in Asia in criminality score.
With growing need for intelligent security system and rising government initiatives, the video surveillance market has been gaining traction in the recent years. In 2019, home affair minister asked to install CCTV systems connected to local police to address the crime and provide digital security measures for the residents.
Government policies and schemes introduced in the Indonesia Video Surveillance Market
The government issued Presidential Regulation 20/2018 to strengthen domestic industries, including the video surveillance sector. This regulation requires government agencies to prioritize the use of domestically produced goods and services, including video surveillance equipment, for government projects. The government has introduced tax incentives for businesses that want to purchase and install video surveillance systems, such as CCTV cameras. The government launched the Safe City Initiative, aimed at establishing safer cities through increased video surveillance. The initiative provides funding for the installation of CCTV cameras and software across Indonesian cities to monitor public spaces, traffic, and crime. The government has also allocated funds for research and development in the video surveillance industry, encouraging innovation and growth. In 2020, the government provided funding for a research project aimed at developing artificial intelligence-powered video analytics software that could detect threats in real-time
Market by Components
In 2022, video surveillance cameras held the majority share in Indonesia video surveillance market owing to increasing public investment towards deployment of security systems & devices throughout several public infrastructure areas, predominantly airports, metros and key crowded places. The demand of video surveillance cameras will continue to propel.
Market by Applications
Government & transportation sector held for the highest revenue share in 2022 owing to increased investment in infrastructure development projects like airports, roads and others which are further expected to drive the growth of segment in the upcoming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2023
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Indonesia Video Surveillance Market Overview
- Indonesia Video Surveillance Market Outlook
- Indonesia Video Surveillance Market Forecast
- Historical Data and Forecast of Indonesia Video Surveillance Market Revenues & Volume for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Video Surveillance Market Revenues & Volume, By Components, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Video Surveillance Camera Market Revenues & Volume, By Camera Type, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Video Surveillance Recorder Market Revenues & Volume, By Recorder Type, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Video Surveillance Market Revenues, By Applications, for the Period 2019-2029F
- Market Drivers and Restraints
- Indonesia Video Surveillance Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Indonesia Video Surveillance Market Revenue Ranking, By Companies
- COVID-19 impact on Video Surveillance Market
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Component
- Video Surveillance Cameras
- Video Surveillance Recorder
- Video Surveillance Encoder
- Video Management Software
By Application
- Banking & Financial Institutions
- Government & Transportation
- Retail & Logistics
- Commercial Offices
- Industrial & Manufacturing
- Residential
- Hospitality & Healthcare
- Education Institutions
