Video surveillance camera accomplished major revenue share in 2022 in Southeast Asia Video Surveillance Market – 6Wresearch
By components, video surveillance camera acquired the maximum revenue share in 2022 owing to installation of security systems at public places such as airports, metros etc. The growing need for perimeter security & surveillance of critical infrastructure such as Nhon-Hanoi station, Jakarta 6 subway network expansion, Bangkok Mass Transit Rail and more would further augment the demand for video surveillance solutions from government sector in the future.
According to 6Wresearch, Southeast Asia Video Surveillance Market revenue size is anticipated to grow at a CAGR of 12.2% during 2023-2029. The rise of crime rate in Southeast Asia such as Malaysia, Cambodia, Vietnam which recorded around 55.7%, 50.7% and 45.8% crime index respectively in the year 2022 has led to increase in demand for video surveillance market to ensure safety and security. On account of increase in infrastructure development owing to the government investment of $22.6 trillion by 2030 in Southeast Asia region would lead to increase in market for video surveillance in the future to keep a check on safety and security. The construction industry in South Asia is expected to register growth, supported by investments in energy, transport and mega commercial construction projects. Additionally, under ASEAN Vision 2025 economic integration, infrastructure development, and digital economy initiatives is anticipated to increase the demand for video surveillance in the region. The rise in technology has led to increase in data breach and security concerns regarding cyber-attacks with 2,07,506 cyber-attacks recorded in Southeast Asia in 2022 which would restrict the growth of video surveillance market in the region.
According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, government and transportation segment is expected to witness highest growth rate in the coming years owing to government projects for infrastructure development such as U-Tapao International Airport in Thailand, Bien Hoa - Vung Tau Expressway in Vietnam, Koh Rong International Eco-Tourism Airport in Cambodia.
The Southeast Asia Video Surveillance Market (2023-2029) report provides an in-depth analysis with 106 figures and 74 tables, covered in 198 pages. The report comprehensively covers the market by components, camera type, recorder type, application, and countries. 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.