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360 Degree Perspective of the Asia Pacific Physical Security Market
Frost & Sullivan, Feb 2011, Pages: 49
This Frost & Sullivan research service titled 360 Degree Perspective of the Asia Pacific Physical Security Market provides an insight into some of the key trends that have been affecting the security industry. Also, the study considers what current security systems are likely to evolve into in the future. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies; biometric readers, iris scanners and palm vein scanners.
This study provides an insight into some of the key trends and factors that have been affecting and that will affect the physical security market till 2020. Looking at a holistic approach, there have been various megatrends that have been taking place across the globe and these are trends which organizations need to look into and capitalize on in the coming years. The study brings in a correlation between these trends and in what way the security industry will be impacted and how the industry can grow further in the coming years.
Market Overview:
Expanding Base of Techno-savvy End Users Revs Prospects for the Asia Pacific Physical Security Market
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 more receptive to new security systems.
This is an indication that as security systems become more advanced, consumers will be more receptive, thus allowing for greater coverage in future. 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 were not 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,” notes the analyst of this research service. “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.
Concerns Surrounding Privacy Continue to be a Roadblock for the Market
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 realise 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 utilised 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 the analyst. “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 sure fire route to build complementary skills quickly.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By End-use Vertical:
- Banking
- Healthcare
Technologies
The following technologies are covered in this research:
- Biometric readers
- IRIS scanner
- Palm vein scanner
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