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India Electronic Security Market Size (2024 - 2029)

The India Electronic Security Market is experiencing significant growth, driven by increasing urbanization, rising crime rates, and the demand for advanced e-security solutions. The expansion of smart cities and infrastructure projects is further propelling the market, as is the widespread adoption of video surveillance systems and innovative technologies like AI for enhanced security. Despite challenges such as high installation costs and a lack of awareness about advanced security benefits, the market is buoyed by substantial investments from both private and government sectors. State governments are also playing a crucial role by integrating advanced video surveillance to enhance public safety, particularly in urban areas.

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Market Size of India Electronic Security Industry

India Electronic Security Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.56 Billion
Market Size (2029) USD 7.36 Billion
CAGR (2024 - 2029) 23.57 %
Market Concentration High

Major Players

India Electronic Security Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Electronic Security Market Analysis

The India Electronic Security Market size is estimated at USD 2.56 billion in 2024, and is expected to reach USD 7.36 billion by 2029, growing at a CAGR of 23.57% during the forecast period (2024-2029).

The India Electronic Security Market size is estimated at USD 2.56 billion in 2024, and is expected to reach USD 7.36 billion by 2029, growing at a CAGR of 23.57% during the forecast period (2024-2029).

  • With rising urbanization and crime rate, there is an increasing demand for e-security solutions and services nationwide. Innovative city projects and significant infrastructure developments are adopting electronics security solutions across India.
  • Increased use of cameras by law enforcement agencies, advanced analytics like AI to enable facial recognition, thermal scanning, and monitoring, and a surge in the number of residential and commercial buildings, along with the development of smart cities, are driving the market's growth.
  • The digitization and the ever-increasing deployment of video surveillance systems are further catalyzing market growth. The industry growth's most significant factor has been the recent innovations in surveillance, security, and network offerings, gradually reducing the costs of specialized products and increasing their overall effectiveness. India is focusing on ambitious and innovative programs such as the Smart Cities Mission, which aims to eliminate infrastructural bottlenecks, minimize friction in operations, and promote a healthy urban environment.
  • Rapid installation of access control systems across defense and commercial sectors and investment of various private and government entities in such solutions have boosted the market's growth. However, a lack of knowledge regarding the benefits of advanced security solutions and high workplace installation prices is challenging.
  • The state governments in India are increasingly adopting video surveillance equipment to improve security and safety. With the increasing emphasis on smart cities and integrated security surveillance, many states have incorporated advanced video surveillance solutions in their cities. For instance, the Telangana government primarily focuses on improving administration on the streets to upgrade Hyderabad's safety. Telangana state has more than 900,000 cameras, with most of them in the capital, Hyderabad.

India Electronic Security Industry Segmentation

Electronic security systems perform various security tasks to improve the protection of a specific area using computer software and electrical gadgets. These systems keep track of and gather data from subsystems, allowing system operators to analyze the information, choose a course of action, and promptly respond to occurrences. The India Electronic Security Market is segmented by Type (Solution and Services) and End-User Vertical (Government, Commercial, and Industrial). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Type
By Solution
Video Surveillance (IP & Analog)
Access Control
Intrusion Detection And Alarms
By Services
Installation And Integration
Maintenance And Support
By End-User Vertical
Government
Commercial And Industrial
Other End-User Verticals
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India Electronic Security Market Size Summary

The India Electronic Security Market is experiencing significant growth, driven by increasing urbanization, rising crime rates, and the development of smart cities. The demand for electronic security solutions, such as video surveillance systems, access control systems, and advanced analytics like AI-driven facial recognition and thermal scanning, is on the rise. This growth is further fueled by the digitization of security measures and the adoption of innovative technologies that enhance the effectiveness and reduce the costs of security products. The government's focus on ambitious programs like the Smart Cities Mission and the Digital India initiative is promoting the integration of advanced security solutions across various sectors, including defense, commercial, and residential areas.

State governments in India are actively investing in electronic security to enhance safety and security in urban areas. The adoption of video surveillance equipment and access control systems is becoming increasingly common, with significant investments in cities like Hyderabad and Mumbai. The presence of both domestic and international players in the market, such as CP Plus, Prama Hikvision, Bosch, and Honeywell, is contributing to the market's fragmentation and competitive pricing strategies. Despite challenges like high installation costs and a lack of awareness about advanced security solutions, the market is poised for substantial growth, supported by government initiatives and the increasing need for security in public and private spaces.

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India Electronic Security Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Assessment of the Impact of Macro Trends on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 By Solution

        1. 2.1.1.1 Video Surveillance (IP & Analog)

        2. 2.1.1.2 Access Control

        3. 2.1.1.3 Intrusion Detection And Alarms

      2. 2.1.2 By Services

        1. 2.1.2.1 Installation And Integration

        2. 2.1.2.2 Maintenance And Support

    2. 2.2 By End-User Vertical

      1. 2.2.1 Government

      2. 2.2.2 Commercial And Industrial

      3. 2.2.3 Other End-User Verticals

India Electronic Security Market Size FAQs

The India Electronic Security Market size is expected to reach USD 2.56 billion in 2024 and grow at a CAGR of 23.57% to reach USD 7.36 billion by 2029.

In 2024, the India Electronic Security Market size is expected to reach USD 2.56 billion.

India Electronic Security Market Report Snapshots

India Electronic Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)