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India is a frequent target of terrorists and has borne the maximum number of attacks in the world. Following the November 2008 attacks in Mumbai, all quarters of society, including the government, ...
India is a frequent target of terrorists and has borne the maximum number of attacks in the world. Following the November 2008 attacks in Mumbai, all quarters of society, including the government, businesses and individuals are investing significant amounts in installing and upgrading their security infrastructure. The heightened awareness is providing an added boost to the security and surveillance systems industry, which has historically grown at 20-30 per cent annually.
The report provides a snapshot of the market indicating the estimated size, growth, and segments by product, customer type and geography. Since imports play a major role in the market, a brief on the typical sales method in each customer segment, and the role of distributors provides an introduction to companies seeking to do business in India.
A discussion on demand from various customer segments shows the impact of recent attacks. Challenges such as attitudes toward security, a disorganized marketplace, and high import duties are also illustrated. The structure of competition followed by a product-matrix of major players and snapshots of their strategies completes the picture of the market as it is today.
The future outlook in the market suggests that high import duties and taxes may be reduced in wake of increasing security concerns while IP and video analytics technologies will see greater adoption. The participation of private equity in the broader security systems and services market is also covered and is an indicator of growing investment interest in the industry.
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