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IFSEC Global India Correspondent, IFSEC Global

January 1, 2014

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The Video Surveillance Report 2022

Moving towards intelligent camera networks

Please elaborate on your product portfolio and its applications in the security and surveillance space?

LG has a clear vision to be the technology leader in CCTV domain. Our core philosophy is to set a high benchmark by consistently bringing out technologically advanced products, so that no compromise is made with the sensitive issue like security of the citizens. With the launch of Full HD high Frame Cameras (60 FPS) with edge based analytics; LG has reiterated its focus on state-of-the-art technology with ease of operations. The entire product portfolio of LG is focused around network based technology.

The Union Budget 2014 has a major announcement on 100 Smart Cities to be setup. Do you think Smart City projects will increase the demand for Security and Surveillance solutions?

Security & Surveillance solution is already a more than 300 million dollar market in India. With the announcement of 100 smart cities, the need should supposedly increase, but it will also depend a lot on the government’s agencies speed of implementing these projects.

How do you foresee India as a potential market for Electronic security product, what are its prospects?

India Electronic Security market is growing at a CAGR of 27 percent. Most importantly the need of IP-based system is being recognised by most of Private and Government Companies. Earlier it was presumed that the IP will grow at a rate of 37 percent CAGR, but the year 2014 has shown a much bigger transformation of the industry shifting to IP.

What is the growth rate witnessed in adoption of IP-based security solutions? How is LG addressing this opportunity?

LG is known for its futuristic approach and technological leadership in all product domains. In Electronic Security product, LG has big plans in widening its product portfolio. We have done extensive market research and our R&D team is working to incorporate the VOC. LG has seen an average growth of 29 percent in its OEM business and more than 100 percent growth in IP based products in various LG subsidiaries.

How do you account the R&D activity in your company for security products?

LG has been into manufacturing of Electronic Security products and components for more than two decades. With OEM business of Zoom Modules and complete assembly products for other brands, LG has been inwardly present in this segment for a long time. All of this has been possible with the constant efforts of our huge R&D team based out of South Korea. To keep our technology leadership, LG is planning on further investments in R&D.

According to you what could be the future trends for this market which will drive the business?

This market has been highly fragmented in India. The involvement of under qualified professionals in selling and purchasing of electronic security products has led to this level of fragmentation. As users get educated by various reputed market professionals every day, we foresee by 2017, this market in India will see a major paradigm shift and deployments will be based on the network and intelligence rather than just a deterrent. Customers will start paying premium to manufacturers/resellers/ integrators for technological relevant solutions.

What are the different verticals/segments that you are targeting for these products? Which one do you see has the potential to take the lead?

Every vertical in India has its own importance; most of them have not even been covered properly. Vertical approach by any company mostly depends on current situations and future policy decisions made by the Government and competent authorities. India has a huge potential to grow in all segments be it, Transportation (Government’s announcement to build Bullet trains, Freight corridors, upgrade Train stations, Airports ); Government (100 Smart Cities,); BFSI (Growth and increase in number of national banks, increase in centralization); Hospitality (Growth of Number of foreign franchises, more investments in B Class Cities by Hoteliers) are few examples.

What are your revenue expectations for the year 2014-15 for B to B segment? What is the percentage growth that you are targeting for Security and Surveillance products?

LG India launched these products in the year 2011 in India. Starting from zero, three years ago LG has been constantly growing at more than 60 percent every year since 2012. For the next five years we are targeting average growth of 45 percent.

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