Aimed as the next Asian economic power house, India
opens its doors to the world for business opportunities across all
levels and all industries, including the fire, safety and security
sector.
The Indian Safety and Security (S&S) market offers excellent growth
opportunities to companies and has proved to be boon for the security
market. The Indian security market is changing due to the realization in
terms of reducing losses against theft, espionage, vandalism and
terrorism. The 9/11 attack in the US and subsequent events in India
significantly changed the perception and the need to provide adequate
levels of security. Electronic security industry remains largely
imported and the Indian security market is close to Rs. 7566.02 million
(US $ 187 million).
The market is expected to grow approximately by about 25% as expenses
on safety and security are now being viewed as a profit centre and thus
has a domestic scene. The growth is spurred with the evolution of
technology that provides both security and convenience and the fact that
prices are very reasonable. The total imports are estimated at Rs.
4855.20 million (US $120 million). Import comprises total market size of
Rs. 7566.02 (US $ 187 million). India is importing 45 million worth of
high-tech safety and security products from the US and currently it is
enjoying an approximately 35 % import market.
The fire protection market in India including both active and passive
protection is estimated to be worth around Rs. 8000 million (US $ 197
million). Of this, the active protection, such as fire alarms,
extinguishers, addressable and conventional systems, takes an estimated
over 90% of the market. On the security front, industry experts estimate
that the market for electronic security equipment in India is around Rs.
7000 million per annum and is growing at about 20 to 30%. India is
rapidly adopting new applications for smart card technology in a variety
of segments, primarily to accelerate the government to citizen interface
and to bring transparency and accountability in the system.
Smart cards are synonymous with security in the networked world. In the
next four years the demand for smart cards is expected to increase
dramatically in India. The three markets which are expected to power the
expansion of the Indian smart card market is SIM, National ID and
Driving license and vehicle registration certificates, with SIM being
the most prominent. The future is bright for the smart card industry in
India which will take some time before gaining mass access.
