Release Date: 16-Jan-2013
India is in the first phase in adoption of security systems; it is still not a mature industry. However, given the security and crime scenario in the last few years, the government emphasis on security and the related spending has seen a gradual rise in adoption. In fact, this has made it de-rigueur for some sectors to buy security systems, like the hospitality industry wherein a hotel cannot acquire a 5-star or 4-star tag unless it has specific security systems in place. RBI’s guidelines that all banks need to have intrusion alarms and video surveillance systems ensures that banks are also driving the demand. As government bodies are more determined to safeguard all public places such as markets, airports, railway stations and university campuses, surveillance is on the top of government’s security priorities. With the impetus from the government and regulatory bodies we see good demand coming from sectors like banking, commercial establishments, industrial sector, etc.
The growth in the market has come about with the growing awareness among different end user segments. The Indian security market is witnessing immense growth from sectors such as city surveillance, public transport, hospitality, airport security, BFSI, retail, BPO, manufacturing, college campuses, infrastructure companies and education. The government, in general, is the biggest segment in terms of volume demand. PSUs are also a vertical with significant demand. The private sector, enterprises as well as SMBs, shows potential although their demand is dwarfed by that of the government sector.
The most popular and widely used electronic security solutions include alarms, access control devices and CCTVs. CCTVs are the widely used security products, with the government and domestic intelligence/ security agencies implementing these solutions widely in public areas, defence establishments, public sector and government establishments. Specific products include security alarm systems (fire alarms, burglar alarms, etc), closed circuit television (CCTV) systems, A/V door entry systems, access control and video control systems, intrusion detection security products, network cameras, video encoders, and the increasing demand for security products has seen a range of new innovative products to meet the growing demand from different sectors.
For more information visit: India Electronic Security Equipment Market Outlook 2016