The Indian security sector is rapidly transforming, driven by technological advancements and evolving threats, industry executives and experts said.
AI-powered solutions are revolutionizing security systems, while strategic partnerships are fostering innovation in critical areas like quantum technology and cybersecurity, they said.
With growing demand for advanced security solutions, the domestic market is expanding, positioning Indian companies as global leaders through their technological expertise and manufacturing prowess, they added.
“The global security industry is valued at $120 billion, growing at 8% CAGR annually until 2030. As security becomes an essential focus for governments, institutions, and private sectors alike, the demand is set to increase exponentially in the coming years,” said Shashank Sambyal, Zonal Head, North & East, Godrej Enterprise while speaking at the IFSEC India expo organised by Informa Markets in India.
“Government regulations like Standardisation Testing & Quality Certification (STQC), are strengthening industry standards, ensuring secure data management,” he said.
M. A. Johar, President, Strategic Business, CP Plus, said “The CCTV surveillance sector in India is currently valued at approximately ₹9,000 crore, growing at rate of 30% annually. The potential for further expansion is immense, and Indian brands are gaining global attention as the world increasingly looks towards India for surveillance solutions.”
“The integration of AI technologies is revolutionizing the industry. AI enhances the functionality of cameras by offering real-time monitoring, proactive alerts, and data analytics. we are also witnessing how the demand for cameras has expanded beyond traditional security applications. Whether it’s in homes, businesses, or even vehicles with the growing popularity of dash cams, security has become a pervasive part of daily life,” he added.
“The market continues to grow, and the evolving technology landscape will only drive more widespread adoption of surveillance systems,” he further said.
Ashish P. Dhakan, MD & CEO, Prama Hikvision India Private Ltd., said, “AI is revolutionizing not just security, but also industry automation, enabling cameras to detect product quality issues. With the government’s policies, we foresee a 40% growth rate for Indian manufacturers in the coming years.”
Manish Rathi, Chief Executive Officer, TrueView India, said, “The recent restrictions on Chinese brands have opened up significant opportunities for Indian manufacturers to strengthen their presence in the market.”
“Innovations such as AI-driven solutions for human detection, face recognition, and Wi-Fi enabled wire-free systems are transforming the industry landscape. With cutting-edge offerings and state-of-the-art manufacturing facilities, Indian brands are poised to lead the way in addressing growing security demands,” he added.
“While metro cities continue to lead in adopting sophisticated security measures, tier-II and tier-III cities are emerging as significant contributors to this demand surge,” said Yogesh Mudras, Managing Director, Informa Markets in India.
“The integration of AIoT technologies is revolutionizing the industry, enabling cutting-edge security cameras and solutions to cater to diverse needs across urban and rural areas,” he added.
As India strides towards becoming a global economic powerhouse, the demand for advanced surveillance solutions is accelerating, industry executives said.
India’s security landscape is undergoing a remarkable transformation, with cities increasingly adopting advanced solutions such as video analytics, facial recognition, and integrated CCTV systems, driving the shift toward smarter and safer urban environment, they added.
Published - December 14, 2024 11:38 pm IST