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Security market is expected to attain a CAGR of 25% to reach INR 600 bn by 2015, finds Netscribes
Netscribes (India) Pvt. Ltd. launches a report on the Security Equipments and Services Market India 2012 covering a market with strong growth potential. It is a part of Netscribes’ Information Technology Series
The market primarily comprises of multiple segments including CCTV & other equipments, electronic access control, IT security and private security services. “Basically the demand for security equipment is seen mostly from the residential and commercial and enterprise segments of the market, wherein frequent criminal activities and the lurking danger of potential terrorist attack is stimulating the market by manifolds,” says Mr. Kalyan Banga, Product Manager at Netscribes..
The report begins with an illustration which briefs about the several segments within the market. The segments have been well highlighted for the better understanding of readers. Market overview section begins with the graphical representation of the overall market size and forecasted growth figures and the break up of these figures for the years 2010, 2012 and 2015. Moving along, the report elaborates on each individual market segments and explains various aspects of the market in details. It also features individual market size and forecasted growth figures of the market segments. This section features a separate portion on the initiatives taken by the Indian Government which enlightens the readers on some of the major steps taken so far. This section depicts the market scenario on a pan India basis with the aide of an illustration , wherein the major markets have been highlighted for readers. Further, the report talks about the multi staged distribution model followed in the market. Types of products section in the report mainly talks about the various components that make up each individual market segment. A brief introduction, explaining details about the technologies involved can be found here in this section.
Market entry strategy section talks about the most appropriate method for players interested in venturing into the market. Viable reasons to validate the mentioned strategy are also summarized for a clearer understanding. Following the section, the report contains a Vendor opportunity section which talks about the various sectors which can be exploited by players to generate better revenue. Basically, the section lists the key opportunity areas, prospective clients, their purchase profiles and additional characteristics which can be effectively tapped for an efficient lead generation.
An analysis of the drivers for CCTV and other equipment explains growth factors such as government demand, corporate demand, and retail and residential sector demand. The key challenges identified include high duty and taxation structure and competition from unorganized players. Analysis of the driver for electronics access control explains growth factor such as increasing security breaches, demand from upcoming government projects and proposals, economic growth and rise in employable population and increasing demand for better security from increasing R&D centres. The key challenges identified include lack of awareness towards security and availability of cheaper alternatives, and lack of end to end solution providers. Analysis of the driver for private security services explain growth factor such insufficient police protection and cost of electronics. The key challenges identified include lack of proper training and fire arms not being allowed.
The report also talks about future outlook for this sector including the existing duty structure and the PE investments and their impact on the market. The major products expected to be demanded have been highlighted including the sectors which will drive the market.
Key security equipment and services vendors have been profiled in details within the report which enables readers to get a clear picture of the current competitive scenario. The section lists the basic details of the players such as corporate information, business highlights and key members. The section also features financial analysis of key vendors which in turn provides us with the financial health of players.
The report concludes with a section on strategic recommendations which comprises of an analysis of the growth strategies of the digital camera market in India. “Sales strategy is a very crucial factor for the security equipment vendors in the market and hence must be given a significant priority,” noted Kalyan.
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