Government & transportation sector accomplished major revenue share in the Indonesia Video Surveillance Market – 6Wresearch
Government and transportation vertical has generated majority of the market revenues on the back of growing infrastructure spending by the government such as opening of $1.7 billion mass rapid transit in Jakarta in 2019 and inauguration of Kertajati International Airport in 2019, Moreover, same trend is expected to continue in the forecast years owing to rising level of investment toward various construction projects such as development of new Bali airport with an investment of US$ 3.4 billion, six new subway lines with an investment of US$ 42 billion, burgeoning deployment of video surveillance in public areas to ensure safety and diminish crime rate and increase in infrastructure development activities.
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 crime rates in Jakarta and Bali and the allocation of $27 billion for infrastructure projects by the government would augment the market for video surveillance in Indonesia in the upcoming years. Growth in government funding towards the expansion of existing public infrastructure and construction of new public and private infrastructures such as the Phase 2 of Jakarta metro, MRT Phase 3 East-West Line, which will have 40 stations and span 87 kilometers across Greater Jakarta are strongly contributing towards the growth of the market in the forthcoming years.
According to Ravi Bhandari, Research Head, 6Wresearch, Video surveillance cameras would dominate Indonesia video surveillance market in the coming years owing to increasing demand for video surveillance camera in the public spaces along with initiatives undertaken by the government to boost and establish modern infrastructure by allocating $27 billion in infrastructure projects would lead to wider deployment of CCTV solutions in the country.
The Indonesia Video Surveillance Market (2023-2029)” report provides an in-depth analysis with 20 figures and 9 tables, covered in 77 pages. The report on Video Surveillance Market in Indonesia comprehensively covers the industry by Component, and Applications. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.