Security equipment industry records 25% rise in 3 yrs
30 Oct 2012 4:50 AM IST
Unabated terror threats coupled with rise in crime rate and growing public awareness has seen the security equipment industry grow by 25 per cent in the country in the last three years, experts have said. A similar trend is likely to continue for the next few years, they predicted.
‘Market for security equipment in India is worth Rs 5,000 crore. Global market is growing by seven per cent only, while the Indian market has grown by about 25 to 30 pc in the last three years,’ Pankaj Jain, Project Director, IFSEC India and Homeland Security India, said.
‘One of the reasons for the strong demand (of security equipment) is the Mumbai terror attacks of 2008, but the larger reasons are the awareness of security in the Indian market and it has spread in the last five to six years,’ he added.
IFSEC India and Homeland security 2012 exhibition will be held in Greater Noida from 1 Nov where at least 250 leading security companies from more than 20 countries are expected to participate, with more than 12,000 govt officials and security professionals expected to attend the event.
According to Jain, the CCTV and surveillance device, access control, biometric equipment, intruder alarms and fire alarms have massive demand in the country. Mumbai Police Deputy Commissioner (Crime Branch) Ambadas Pote also attributed the industry growth to public awareness about the security in view of terror threat looming large.
‘I think security is a must for overall development in the country. Nowadays, money spent on security is considered as an investment, rather than just expenditure. In fact, the growth rate may rise in future,’ he said.
According to Suhas Joshi, chief of Mumbai Fire Brigade, ‘The government is also making it mandatory in all offices to install such equipment, which is why the demand has increased,’ he said.
‘Market for security equipment in India is worth Rs 5,000 crore. Global market is growing by seven per cent only, while the Indian market has grown by about 25 to 30 pc in the last three years,’ Pankaj Jain, Project Director, IFSEC India and Homeland Security India, said.
‘One of the reasons for the strong demand (of security equipment) is the Mumbai terror attacks of 2008, but the larger reasons are the awareness of security in the Indian market and it has spread in the last five to six years,’ he added.
IFSEC India and Homeland security 2012 exhibition will be held in Greater Noida from 1 Nov where at least 250 leading security companies from more than 20 countries are expected to participate, with more than 12,000 govt officials and security professionals expected to attend the event.
According to Jain, the CCTV and surveillance device, access control, biometric equipment, intruder alarms and fire alarms have massive demand in the country. Mumbai Police Deputy Commissioner (Crime Branch) Ambadas Pote also attributed the industry growth to public awareness about the security in view of terror threat looming large.
‘I think security is a must for overall development in the country. Nowadays, money spent on security is considered as an investment, rather than just expenditure. In fact, the growth rate may rise in future,’ he said.
According to Suhas Joshi, chief of Mumbai Fire Brigade, ‘The government is also making it mandatory in all offices to install such equipment, which is why the demand has increased,’ he said.
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