As an emerging market, the potential is huge with divergently realities from one region to another and around verticals.
Research and
Markets reveals that, upcoming new hotels & shopping malls,
coupled with increasing urbanization rate are some of the few factors that have
resulted in the overall growth of video surveillance market in Vietnam.
One can also observe that, IP video surveillance segment is accounting
for majority of the market revenue owing to high pricing and major deployments
in government & transportation vertical.
In terms of volume, analog video surveillance systems are accounting
for majority of the volume share owing to lower pricing and accessibility.
According to Research and Markets, reduction in import taxes resulted in declining of prices of video
surveillance systems.
Amongst all the verticals, government & transportation acquired
largest revenue share of the market pie in the country.
The firm predicts that, over the next six years, retail and healthcare
& hospitality verticals are forecast to grow at relatively higher CAGR from
2016 to 2022.
Southern Region of Vietnam held major market for video surveillance systems
in terms of revenue owing to increasing infrastructure development activities
especially in commercial and retail verticals.