India is a largely untapped and under-served electronic-security equipment market, says the report India Electronic Security Equipment Market Outlook 2016 by Research and Markets, a market research and data firm.
In addition, there is a need for greater awareness about the installation of electronic security equipment and associated benefits, the report says.
While increasing awareness about the installation of electronic security equipments might make the task of the market players slightly difficult, those companies stand to benefit from the opening up of the market into new user segments, the report says. That can add to the fast growing market and vendors will need to find the right solutions, technology, market niche and price points to be able to make an impact in the electronic security area, according to the report.
The initial stages of the electronic security market in India were marked by a profusion of vendors and service providers, a none-too-aware market and a lack of awareness among customers, the report says. During recent years a more serious’ electronic security market has developed giving it a more organized feel.
The growth in the Indian security market has come with the growing awareness among different end-user segments, the report says. That market’s growth is coming from sectors such as city surveillance, public transport, hospitality, airport security, BFSI, retail, BPO, manufacturing, college campuses, infrastructure companies and education and the growth in the Indian market has come with the growing awareness among different end user segments, the report says.
While the government, in general, is the biggest segment in terms of volume demand, the future in the India electronic-security equipment market is pointing towards integrated security solutions created by integrating multiple systems, including video, intrusion, video analytics, fire, access control, HVAC, chemical and biological sensors, the report says. Such systems would offer actionable intelligence and decision support to the organization, according to the study.
Click here for more information on the report.