The market for civil security in India is set to grow 12 per cent for the remainder of this decade to double the revenues of 2012.
New market assessments from Frost & Sullivan reveal the civil security market was worth $10.69 billion last year. The firm predicts that the figure will reach $26.46 billion in 2020.
This research was released just weeks before the international security market descends on Greater Noida, New Delhi, for IFSEC India.
The show, in its third year, takes place 5-7 December.
The sectors covered in Frost & Sullivan’s research include:
- Border and maritime security
- Critical infrastructure protection for airports, oil and gas, and power and utilities
- Mass transportation
- First responder C3i and emergency response
- Safe cities
- Cybersecurity
The firm expects airport security and safe cities to be the fastest-expanding segments for security in the country; their growth rates are forecast at 31.2 per cent and 21.4 per cent, respectively. An increase in terror threats has been driving increased investment in technology such as video surveillance in India.
However, this investment has not been without its challenges. The Indian city of Pune was the victim of a bombing last year. However, the cameras that had been installed in public places were not operational — for whatever reason — in the leadup to the bombing. This dented the chances of catching those responsible.
Frost & Sullivan analyst Anshul Sharma said in a press release.
The demand for equipment and technologies to address the existing capability gaps in India’s civil security is attracting global suppliers to the country. Investment plans have been proposed by the central and state police agencies to improve the capabilities of various state police forces in areas such as communications, surveillance, weapon systems, combat uniforms, ammunition, ground vehicles, and airlifting.
The market in India is extremely fragmented, according to the report. This is putting pressure on prices which could result in companies moving into a position where they could be acquired. Sharma explained in the release how suppliers will also be turning to solutions, rather than products to ensure their survival.
To sustain profits, suppliers are looking to offer end-to-end security solutions. As they do not have an integrated portfolio at present, market participants are quite likely to turn to mergers and acquisitions. Market consolidation will allow market players to expand their offer.
In addition to a rapidly growing economy and burgeoning middle class, India is dealing with pressure at its borders, and the government is placing a significant emphasis on border security, which is also likely to drive the market’s growth.
IFSEC India will be taking place next month. You can still register for the event at www.ifsecindia.com.
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I think we need to take advantage of this rapid growth and invest in india security sectors
Anyone who has been to/ worked in India knows that security is a massive employer. There are guards everywhere. I think the challenge is to make the most of the manpower and take the industry to the next level by intergrating the human and technical- having 50+ guards looking after a building is great, if the guards are well trained and of a good standard, combining manned guard and tech will ensure that when there are weaker guards, issues will still get picked up.
This is amazing that security cameras were in place but not operational at the time of the bombing. Do you know if cameras were taken care of by the terrorists or was it some operational failure of the cameras? There must have been some inquiry made into this matter, it would be good if you can provide us with the details of the findings.
India is big, so is every market in India. India’s booming economy has attracted businesses in various sectors for investment and securing windfall profits. As @ holmesd said, integrating manpower available in India combined with technology can open new horizons for the industry. It will also serve Indian people better by making them more secure.
It’s a huge country, so it stands to reason that the scale of potential investment will be similarly huge, really. But it’s also a country of contrast – huge wealth and a burgeoning middle class sit alongside mass poverty. And with poverty there is crime. Where there’s crime, there’s a need for security…
I believe, and I stress I’m not clear on this, that they were either switched off for operational cost savings, or they were malfunctioning. I don’t think it’s ever been suggested that terrorists took the cameras out.