Posted On: 2020-09-23
Government & transportation application is anticipated to hold the largest revenue share in Indonesia Video Surveillance Market during the forecast period – 6Wresearch.
Increasing security concerns, primarily arising from theft, domestic crime and threats from terrorism, coupled with government initiatives to encourage digitization and development of smart cities, are expected to drive the demand for video surveillance systems in Indonesia over the coming years. Moreover, growing consumer awareness about video surveillance as a solution for addressing security and monitoring concerns, combined with declining installation cost would further propel the demand for video surveillance systems in the country during the forecast period.
According to 6Wresearch, Indonesia Video Surveillance Market size is projected to grow at a CAGR of 8.1% during 2020-26. Government initiatives towards promoting city surveillance and smart city projects are likely to increase opportunities for deployment of high-resolution IP cameras across the country over the coming years. The coronavirus pandemic is expected to restrict the growth of the video surveillance market in Indonesia in 2020 due to supply chain disruptions and a moratorium on commercial activities, followed by a recovery driven by the reopening of the commercial sector and resumption of infrastructural projects in the country after the health emergency.
According to Prithu Chawla, Senior Research Analyst, Research and Consulting, 6Wresearch, "Based on applications, government & transportation accounted for nearly one-fourth of Indonesia’s video surveillance market in 2019 and is projected to maintain its dominant share during the forecast period owing to rapidly increasing demand for safety in this sector. On the other hand, the infrastructure segment would grow at a faster rate on the back of upcoming smart city projects in the country over the coming years. Further, new technologies, such as ultra-high-definition surveillance cameras with 4K resolution, are yet to be widely adopted in Indonesia as higher bandwidth and data storage requirements are hindering the market growth.
According to Urvashi Sharma, Research Associate, Research and Consulting, 6Wresearch, "Declining prices and increasing awareness would drive the market for advanced video surveillance solutions over the coming years. The surveillance camera segment accounted for the majority of the market revenue in 2019. Furthermore, based on camera types, the IP segment is expected to witness significant growth in demand over the coming years, owing to technological advancements such as digital PTZ, embedded video analytics capabilities, and cloud solutions. Moreover, the market for video management software is anticipated to register considerable growth during the forecast period, on account of its benefits which allow viewing, recording and retrieving multiple cameras at the same time.
Some of the key players in the video surveillance market include- Axis Communications, Bosch, CP Plus, Hikvision, Honeywell, Panasonic, Hanwha Techwin, Sony, Pelco by Schneider, Zicom, and Dahua technology.
“Indonesia Video Surveillance Market (2020-2026)" provides an in-depth analysis with 22 figures, covered in 93 pages. The report estimates and forecasts the overall Indonesia Video Surveillance market by component types, by applications, and by regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.