Sophisticated security-related electronics are expected to flood the domestic market after the Mumbai terror attacks.
Detection and surveillance solutions — from biometrics to video surveillance to explosive or hazard sensors — continue to gain momentum, while background screening, data analytics, biometrics, digital video, and sensor-based detection will continue to be major security investments over the next three to five years. The market is currently growing at 30 per cent annually.
This could well be a Rs 1,800-crore window for the players to cash on. Deepak Thakur, Honeywell director (security-south Asia) says, “The security market will grow with commercial establishments, companies and government agencies looking to beef up their deployments. People will now think of security as a comprehensive solution and not just a standalone closed circuit television (CCTV) deployment.”
He is betting on next-generation solutions such as video analytics, which detects, analyses, tracks and classifies the behaviours of people and vehicles as they move through a scene setting off an alarm in case of a deviation. In fact, a report by IMS Research forecasts that the video analytics market will explode over the next five years, growing from $67.7 million in 2004 to $839.2 million in 2009, at a CAGR of 65.5 percent.
Thanks: Business Standard/SMART IP VIDEO BLOG & NEWS