The security and safety market in Asia-Pacific region, particularly in Vietnam, is embarking on a wide and clear development road, with market size expanding several times in the next few years, both foreign and local experts said here.
The annual growth in Asia-Pacific demand for security equipment will stand at 9.6 percent between 2007 and 2012, while the growth will be only 6.3 percent in Western Europe, 6.7 percent in North America and 7.8 percent in the whole world, said John Shih, editorial director of A and S Group, an integrated media service provider dedicated to the global security and safety industry based in China's Taiwan.
According to surveys by the group and some well-known international research firms, the Asia-Pacific demand for security equipment will surge to 24.7 billion U.S. dollars from 15.7 billion dollars in 2007 and 9.8 billion dollars in 2002, while the respective figures for the world demand are 90.5 billion dollars, 62.1 billion dollars and 42.1 billion dollars, Shih said at a seminar on global security development trend held by the group and some Vietnamese entities in Hanoi on July 7.
"Regions and countries with high growth (in security equipment demand) are Russia, India, China, the United Kingdom, Spain, Japan, the Middle East and Southeast Asia.. Major verticals include city surveillance, transportation, banking, retail, industry and residential," he said.
The group's surveys indicate that Japan's security market, worth 12.3 billion dollars now, has annually grown 10 percent in recent years. Security equipment and services are used at gaming centers, convenience stores, banks, crowded urban areas, parking lots, public means of transport, merchants and mansions.
Vietnam's security and safety equipment market, worth 50-60 million dollars in 2007, is much smaller than Japan's or China's, but it will grow more considerably in the coming years, especially in the 2008-2010 period, he said, predicting that the Vietnamese market will surge 100-200 percent this year.
Vietnam's market segment for Internet Protocol (IP) surveillance equipment alone will annually grow 40-60 percent because more and more trade centers, industrial parks, hotels, office buildings, banks, highways, airports and seaports in the country need security equipment, especially surveillance cameras, he said, noting that China's Guangdong province currently has up to one million cameras in place.
At the one-day seminar, Philip Siow, senior technical manager of Axis Communications, a global leader in network cameras and other IP networking solutions based in Sweden, said the global IP video surveillance market was 1.2 billion dollars in 2007.
Many Asia-Pacific economies, especially Vietnam, are intensifying investment in infrastructure, such as office buildings, luxury apartments, roads, airports and seaports, so their demand for advanced security and safety equipment and systems are growing, Tran Trong Vinh, chairman of the Vietnam Asian Professional Security Association (APSA Vietnam), told Xinhua on July 9.
"I believe that Vietnam's security and safety market will grow200-300 percent in five years starting this year. All kinds of products, including IP cameras, access control and alarm devices will sell well. Demand for IP cameras will grow the fastest," said Vinh, who is also chairman of the management board of Silver Sea Company, a major domestic distributor of such foreign security and safety brands as Panasonic, Honeywell and Checkpoint.
"Now, Vietnam has to import all advanced security and safety devices. If our country had more rational import tax rates on security, safety and anti-fire equipment, the market would grow faster," he said, noting that the current tax rate on anti-fire equipment is zero percent, that on cameras 15 percent, and that on digital video recorders 47 percent.
The growth in Vietnam's security and safety device market has resulted in the boom of security services providers, many of them are now installing and running high-technology equipment like IP cameras at their customers' buildings, including factories, offices and supermarkets.
"We offer electronic security systems and equipment for our clients, including IP-based solutions where suitable for integration with our on-site security guard services. We have 250 active clients, mainly foreign-invested companies," said Graham Potter, marketing and business development director of the Long Hai Security Services Joint Stock Company in southern Ho Chi Minh City.
Vietnam currently has over 300 security and protection services providers, whose main service include asset protection, executive protection, cash in transit, rapid emergency response and mobile patrol, Potter said, stating that "the widespread production and installation of advanced security and safety equipment at lower costs in many countries in the world will be surely replicated in the coming time in Vietnam."
This article appeared in China View
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