This is a best prospect industry sector for this country. Includes a market overview and trade data.

Overview

Unit: USD thousands

 

2015

2016

2017
(estimated)

2018
(estimated)

Total Market Size

1,436,800

1,394,900

1,443,900

1,545,000

Total Local Production

3,800

3,900

3,900

4,000

Total Exports

4,168,000

4,257,000

4,298,000

4,327,000

Total Imports

5,601,000

5,648,000

5,738,000

5,868,000

Imports from the U.S.

797,000

848,000

864,000

897,000

Exchange Rate: 1 USD

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 public safety and law 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 an estimated sales value of internet retailing growing at 6% per annum from 2014-2019. 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 mid-2016, the Hong Kong government began to 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

Asian Securitex 2018. May 9-11, 2018 at Hong Kong Convention & Exhibition Center. Held 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

International Professional Security Association (Hong Kong) Ltd.

For more information about this industry sector, please contact the U.S. Commercial Service in Hong Kong:
U.S. Commercial Service, Hong Kong
Ms. Olevia Yim, Sr. Commercial Specialist
Tel: (852) 2521-1467
Fax: (852) 2845-9800
Email: olevia.yim@trade.gov

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.