Opportunities In Home Safety, Physical Security Market

According to an industry estimate, the Indian home safety and security market, which includes CCTVs, video phone devices (VDPs), fingerprint locks and intrusion alarm systems is estimated to be around Rs 300 crore in 2012. The industry is expected to grow at a CAGR of 35 percent for the next four years.

As per an IMS report, the residential surveillance deployment market was estimated to be $1.7 million in 2012 and is likely to go up to $7.1 million by 2016 with a CAGR of about 44.8 percent in India.

With crime increasing at an alarming rate, the increase in the demand for home safety and security devices should not come as a surprise.

Companies like Zicom, Dax Networks, Axis Communications, Digisol and D-Link are some of the names which are riding on this bandwagon.

Crime-driven market

According to reports, India is fast becoming an unsafe place for children with a 24 percent increase in crimes against children in 2011 compared to the previous year. Nearly 33,100 cases were reported in 2011 against 26,694 cases during 2010.

Such an alarming crime rate against children is a big concern for parents; hence they are taking every step to protect the kids. More and more double income single kid families are going in for IP cameras and other home safety devices. A typical building with 100-odd flats goes in for CCTVs in the kids park, corridors and parking areas not only to keep a watch on the overall premises but also to keep an eye on the children, says Subhashini Ramakrishnan, CTO, Dax Networks.

According to a study by HelpAge India, an organization working for the welfare of senior citizens, Delhihome to nearly a million senior citizens, crime against elderly people is four times more than in Mumbai and double that of Bengaluru. The study said that of the total cases of crime against elders registered in Delhi last year, the highest form of crime was hurting a senior (42.2 percent) followed by murder and robbery which accounted for 35.5 and 13.3 percent respectively. A major chunk of these crimes happen within the confines of the senior citizens home.

Lifestyle changes

Says Sudhindra Holla, Country Manager, Axis Communications, The changing lifestyle of consumers is another big reason for the increasing demand of CCTVs. Technology is enabling parents to keep an eye on their parents and children over a mobile phone.

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Opportunities In Home Safety, Physical Security Market