The Indian security sector is rapidly transforming, driven by technological advancements and evolving threats, industry executives and experts said.
Artificial intelligence (AI)-powered solutions are revolutionising 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 pointed out.
“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,” pointed out Shashank Sambyal, zonal head for the north and east region at Godrej Enterprises.
“Government regulations like Standardisation Testing & Quality Certification (STQC), are strengthening industry standards, ensuring secure data management,” Mr. Sambyal said.
M.A. Johar, president of strategic business at 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.”
‘Demand for cameras’
“The integration of AI technologies is revolutionising 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,” he added.
Published – December 15, 2024 12:30 am IST
