India's electronic security market expected to be favorable

The rising trend of smart cities in India is contributing highly towards the growth of the ES market. Several initiatives by the government are also leading to the growth of this market. The public sector holds the highest share in the market as governments are making use of the advanced technological solutions for criminal detection applications and surveillance. The ES systems includes surveillance, access control, alarming or an intrusion control to a facility or an area.
The electronic security market in India has seen substantial growth taking place in the last 5 years. The equipment industry witnessed a strong growth of 25% and is expected to grow at 18% in forthcoming years. Security and Surveillance is one of the fastest growing industry in India, the market size of the industry from the current $1Bn is likely to grow 2.5 to 3 folds by end of 2021. 

Key Takeaways: Owing to rapidly growing urban population, mushrooming of residential, commercial and industrial construction and rising GDP of India, the future of Indian electronic security market is expected to further enhance. The rising awareness about benefits of the electronic security equipment amongst the Tier-I, Tier-II, and Tier-III cities of the country will encourage players to expand their products & presence across the potential markets. However, the market will be driven by IP-based video surveillance and integrated solutions. Also with systems getting intelligent, business intelligence is seen to be having a profound influence on the new-age electronic security products. 

Cool Vendors: Honeywell, CP Plus, HIK Vision and others including Bosch Security, Axis, Dlink, HID, Matrix, Electronics Eye, Smart Eye and Zicom.