The report Philippines Electronic Security Market Outlook to 2024-Emergence of Technology Integrated Electronic System and Growth in Infrastructure Projects provides a comprehensive analysis of the various aspects such as the market size of the Philippines electronic security market, video surveillance systems market, fire alarm systems market, access control systems market and intrusion detection systems market. The segmentation has been thoroughly covered in the report by transmission and demand from end-users for each product category considered in the report. The report also covers the market shares and revenues of major companies in Philippine’s electronic security market. It also covers the future outlook and projections, which have been analyzed on the macroeconomic factors that have a direct bearing on the market. The competitive landscape of major players has been covered including Hikvision, HID Global, UTC Fire, Panasonic, Dahua, Bosch Security and others. Future market segmentation, growth opportunities, up-coming business models, government regulations and analyst recommendations have been covered.
Philippines Electronic Security Market Overview and Size
Among the 5 ASEAN countries such as Indonesia, Malaysia, Philippines, Thailand and Vietnam, the Philippines has the second-highest annual growth rate of around 6.5% in GDP from (2018-19). The economic expansion sets the stage for similar growth in the Philippines’ the electronic security industry, which is at a relatively young stage compared to other mature Asian markets yet have a lot of room to grow. The electronic security market in the Philippines has grown tremendously over the last few years, on the grounds of an increasing number of criminal and terrorist activities that have stimulated the need for surveillance at public places, commercial buildings, banks, and financial institutions. The electronic security market in the Philippines has grown at a promising CAGR during the period 2014-2019.
Philippines Electronic Security Market Segmentation
By Channel of Sales (Direct Sales and System Integrator Led): The electronic security market in the Philippines is segmented into Direct sales and System Integrator Led with System Integrator holding a majority share in the market in 2019. System integrators provide electronic security systems as per the clients’ requirements. They also save the end-user client personnel cost and also take accountability for time and resources.
By Organized and Unorganized Sector: The electronic security market in the Philippines can be broadly categorized into organized and unorganized sectors. The organized sector has dominated Philippine’s electronic security market. Despite being price sensitive, consumers have become conscious of the product quality they are purchasing. The consumers have attempted to focus on the technological aspect and their requirements well. This has been one of the prime reasons behind the enlarging the share of the organized sector and declining share of the unorganized sector.
By Residential and Non-Residential Sector: The non-residential sector has been a major contributor to the overall revenues in Philippine’s electronic security market during the span of the last five years 2014-2019. The market has been largely supported by government-issued norms to install electronic security and surveillance equipment in buildings and offices of under commercial and industrial areas as well as banks and other financial institutions. The residential electronic security market presently accounts for a small meager part of the Philippines’ electronic security market and has showcased a slower growth as compared to the non-residential sector over the years. The residential electronic security market in the Philippines has been driven by rising urban population and consequent growth in the housing societies which have been increasingly resolving to install electronic security and surveillance systems in the buildings.
By-Products (CCTV, Fire Alarm Systems, Access Control Systems, Intrusion Detection Systems, and Specialty Devices): The electronic security equipment can be broadly divided into video surveillance systems, access control systems, intrusion alarms, fire alarm systems, intercom, and others including metal and X-ray detectors.
CCTVs: CCTV’s have been the major contributor to the growth trajectory of the industry over the past five years. The demand for these systems is majorly driven by the government, banking, commercial, and transportation sector which require a high level of security systems
Fire Alarm System: The Philippines fire alarm market is well established and with the arrival of new and innovative technologies, the market has achieved an increase in the electronic security market in the Philippines. The market amplified as the Government rules and regulations mandated the installation of fire alarm systems in buildings and offices.
Access Control Market: The increase in revenues has been attributed to the technological advances in the access control systems market and improved usage of smart cards and biometric solutions. Additionally, growing awareness about the importance of security equipment as a result of a rise in burglaries, theft and overall sense of insecurity also supported the sales.
Intrusion Alarm Systems Market: Intrusion alarms are most popular amongst the residential sector, but they fail to garner demand from other sectors, owing to high-rate of false alarms instances, generally induced by environmental conditions. The financial sector including banks was amongst the early adopters of intrusion alarms in the country, as the government made the installation of intrusion alarms and other electronic security equipment mandatory for banks and hotels.
Trends and Issues
Filipinos have started shifting towards wireless technology-based alarm systems since they are easy to install and the components of a wireless security alarm system can be moved to different locations in the home. The wireless home security alarm system works through a transmitter. Each component has a transmitter that sends signals to the central control receiver of your alarm system. Infrastructure development has increased in the recent decade. An increasing number of railway stations, airports, roads, colleges, hospitals, offices, and shopping malls and others have helped in surging the demand for electronic security systems. Under the “Build Build Build” Program, PHP 8.4 trillion is allocated for infrastructure projects up till 2022. As of June 2018, over 60 projects are listed under this program, including 24 roads, highway and bridge projects, 15 airport-related projects and nine rail/subway projects.
System Integrators in Philippines Electronic Security Market
System Integrators have benefitted the most from the presence of foreign manufacturers in the country over the period 2014-2019. System integrators sell and install products of different manufacturers. They can customize a sale depending on the customers’ needs. Owing to the local presence of foreign manufacturers in the country, it has become easier for the system integrators to procure those products. They are the ones who install them and provide after-sale services. Furthermore, entry of foreign manufacturers in the market has created a number of employment opportunities for the system integrators in the country as they are the ones installing their products in different sectors. During 2019 (P), the total revenues generated by system integrator from sales and installation for electronic security products has grown at a significant growth rate during the period 2014-2019.
Competitive Landscape of Philippines Electronic Security Market
Philippines ‘ electronics security market is highly fragmented with the presence of foreign companies. In terms of revenues and technology, International companies have dominated the market over the past few years. However, a very small amount of local players do benefit from the presence of these foreign companies. CCTV products market is highly concentrated with the presence of Hikvision been dominating the market. On the other side, the Fire alarm system and access control systems market is fragmented among a large pool of international companies, innovating products to penetrate the market for electronic security products.
Philippines Electronic Security Market Future Outlook and Projections
Philippines ‘ electronic security market is expected to witness phenomenal growth across all industry verticals driven by the growing awareness among the domestic population. The wide publicity by media and other government entities about the advantages of electronic security systems are anticipated to further support the growth of the market in the coming years. Additionally, recurring incidents of crime, terror, and burglary have also driven the need for an around-the-clock robust security solution. These factors will amplify the demand for CCTV surveillance systems, access control systems, intrusion alarms, fire alarm systems, and specialty security equipment in the coming years and hence will lead to the overall development of the market.
Key Segments Covered:-
By Channel of Sales
System Integrator Led
By Product and Installation & Accessories
Installation & Accessories
By Type of End Users
Non- Residential Sector
Product by Type of Sector
Product by Type of Product
Fire Alarm Systems
Access Control Systems
Intrusion Detection Systems
By Type of CCTV Camera
Fixed CCTV Camera
PTZ CCTV Camera
360 Degree Camera
By Type of CCTV Camera
By Type of IP Camera
By Type of Camera Housing
CCTV By Type of Region
CCTV Camera by End Users
By Type of Fire Alarms
By Type of Detection
Fire Alarm by Type of Region
Fire Alarm by Type of End-user:
By Type of Access Control
Hybrid (Integration of Two or Three Access Control Systems)
Access Control by Region
Access Control by Type of End Users
By Type of Intrusion Detection Systems
Infrared Beam Sensors
Intrusion Detection System by Type of Region
Intrusion Detection Systems by Type of End Users
By Type of Specialty Devices
Specialty Devices by Type of End Users
Key Target Audience
Existing Electronic Security Manufacturers
New Market Entrants
Electronic System Retailers and Online Suppliers
Time Period Captured in the Report:-
Historical Period: 2014-2019
Forecast Period: 2019-2024E
Key Companies Covered:-
HID (Hong Kong)
UTC (U.S.) – Lenel, Interlogix
Tyco (US) – C-Cure
ICT (New Zealand)
MEC Network Corporation
Net Pacific Inc.
DTSI (as of March)
EVI Distribution Inc.
Alcon Philippines Technologies and Solutions
Infinite Systems Technology Corporation
Right security solutions
Mustard Seed Systems Corporation
Key Topics Covered in the Report:-
Philippines Electronic Security Market Overview and Genesis
Philippines Electronic Security Market Value Chain Analysis
Philippines Electronic Security Market Size, 2014-2019
Philippines Electronic Security Market Segmentation
Competitive Scenario in the Philippines Electronic Security Market
Company Profiles of Major Players in the Philippines Electronic Security Market
Major Trends and Development in the Philippines Electronic Security Market
Issues and Challenges in Philippines Electronic Security Market
Snapshot on Philippines System Integrators Market
Emerging Technologies in the Philippines Electronic Security Market
Government Role and Regulations in the Philippines Electronic Security Market
SWOT Analysis of Philippines Electronic Security Market
Philippines Electronic Security Market Future Outlook and Projections, 2019-2024E
Philippines Electronic Security Market Future Segmentation, 2024E
Analyst Recommendations for the Philippines Electronic Security Market
For More Information On The Research Report, Refer To Below Link:-
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