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Safety and Security Equipment

Overview

Unit: USD thousands

 

2014

2015

2016
(estimated)

2017
(estimated)

Total Market Size

1,420,121

1,435,960

1,382,994

1,457,924

Total Local Production

4,120

3,850

3,800

3,780

Total Exports

4,298,516

4,168,400

4,053,300

4,087,000

Total Imports

5,714,517

5,600,510

5,432,494

5,541,144

Imports from the U.S.

783,696

796,625

820,523

845,140

Exchange Rate: 1 USD

7,8

7.8

7.8

7.8

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)
Data Sources: Hong Kong Census & Statistics Department

Hong Kong is one of the safest regions in the world, with a low crime rate and strong social order. As the transportation and logistics hub for Asia, there is a stable demand for safety and security equipment and services in Hong Kong, especially for airport and freight-cargo facilities. Other major areas of substantial security equipment outlays include the commercial and financial sectors, while home security systems become increasingly popular.

The market potential for safety and security equipment and services continue to grow steadily, gearing towards more sophisticated high-tech products, an area in which U.S. firms are particularly strong. Our major competitors in the high-tech arena are from Japan, South Korea, Israel and the European Union.

While Hong Kong possesses one of the freest trade regimes in the world, U.S. exporters should be aware that security products may be subject to U.S. Export Control Regulations and are advised to pursue Hong Kong, Macau and China projects after determining compliance requirements. In particular, exports to China for certain crime control items may be prohibited by law.

Sub-Sector Best Prospects

Alarms and access controls
Biometrics
Chemical detection systems
Identification devices
Radio frequency wireless technologies
Rescue equipment
Wireless surveillance equipment
X-ray scanners
Video surveillance systems

Opportunities

Physical Security

In Hong Kong, the primary users of safety and security products are enforcement units such as the Police Force, Customs & Excise Department, Fire Department and Port Control Authorities. For commercial and residential use, there is a steady demand for access control equipment, alarm systems and CCTV surveillance cameras and systems. Fire Protection is another area which currently holds strong market demand—especially for state-of-the-art technology in integrated fire alarm systems.

Macau shows promise as a long-term niche market. U.S. companies wishing to enter the Macau market may consider partnering with Hong Kong companies with a strong foothold in Macau.

Cybersecurity

E-commerce is booming in Hong Kong with sales doubling to USD 36 billion from 2008 to 2012. As a result, many innovative payment services have emerged, such as stored value payment cards, online stored value payment facilities, mobile payment and internet payment services. To ensure that consumers are well-protected, starting from November 2016, the Hong Kong government will regulate and issue licenses for e-payment systems. License holders will be subject to safety requirements, which include, among other things, risk management and control procedures relating to the operation of the system; safety and integrity of the information held within the system.

On 2 Dec. 2015, the Electronic Health Record Sharing System Ordinance (Cap. 625) (EHRSSO) finally came into effect in Hong Kong. The EHRSSO allows health-care professionals and public and private hospitals to collect, share and store patients’ electronic health records via the Electronic Health Record Sharing System (eHR system). The eHR System will bring about a major change for private health-care providers in Hong Kong, most of them operating in small practices and still relying on paper files and records.

These will lead to a growing demand for cybersecurity products and network security consultancies to identify vulnerabilities, reduce risks and ensure compliance.

Web Resources

Trade Shows:

Name: Security Products China Sourcing Fair
Date: October 11-14, 2016
Location: Asia World Expo, Hong Kong Airport
English language website: http://www.globalsources.com/TRADESHOW/HONGKONG-ELECTRONICS.HTM?source=Verticals_TopNav_TS
Description: A sourcing trade show held together with the 2016 China Sourcing Fair: Electronics & Components.

Name of event: Asian Securitex 2018
Date: May 9-11, 2018
Location: Hong Kong Convention & Exhibition Centre
English language website: http://www.asiansecuritex.com/
Description: Held in every two years, Asia Securitex showcases state-of-the-art international security products ranging from smartcard technologies to integrated security management systems.

Trade Associations:

Asian Professional Security Association
Website: www.apsahk.org

International Professional Security Association (Hong Kong) Ltd.
Website: www.ipsa.com.hk

For more information about this industry sector, please contact U.S. Commercial Service:

Ms. Maria Lo, Commercial Specialist
Tel: (852) 2110-8647
Fax: (852) 2845-9800
Email: maria.lo@trade.gov




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