The Malaysia electronic security equipment market has continued to evolve In the recent years through increasing awareness among people about the usage of cameras and other related equipments to combat increasing crime in the country.
Various government regulations and initiatives have also led to increase sales of electronic security equipments in the marketplace. The entry of various players in the security equipment industry has led to increased competition in the domestic market leading to price wars and need for advanced electronic security equipments.Economic reforms In the country are still underway along with legal, tax and regulatory developments with the market requirements. The future potential of the Malaysia economy is largely subject to such reforms and can alter the efficiency of the government's economic, financial and monetary policy.
Video surveillance equipments segment is the dominating segment In terms of total revenue contribution since 2008. The segment contributed more than 40% of the total revenue In the year 2008.It will continue to be the largest contributor in the electronic security equipments over the years, growing at a CAGE of -% during 2013-2018. The use of Video surveillance equipments such as cameras is expected to increase over the years. Government initiatives to increase the number of in public places, roads and others would spur the demand for this segment in the near future.
Growing demand for , IP cameras for security of residential purpose would also and the market growth.Video surveillance equipment would be closely followed by biometrics systems in terms of revenue generation. However, with increasing commercial, non residential projects in the country, the demand for Access control systems would increase and will overtake the system segment in the year 2018. It Is expected that the entry of International branded players In Malaysia will Increase competition In the domestic market and consequently result In reducing the prices, thus proving beneficial for the end users", according to the Research Analyst, Ken Research.
