![Panasonic foresees growth in Security space in India Panasonic foresees growth in Security space in India](https://varindia.com/storage/news/uploads/2014/07/Prasenjeet-Bhattacharya-Panasonic.gif)
Prasenjeet Bhattacharyya, Business Head, Security and Mobility, Panasonic India discusses the trends in surveillance industry and growth opportunities at length with VAR India.
In the past few years, security has gained momentum in India as it has suffered from various acts of terrorism, crimes and data thefts which have led to its growing demand. With focus on building a holistic and secure environment, the paradigm of security is moving from just device security to guarding of assets with enlarged alertness of threat management while keeping in mind the reputational cost.
The Indian security market is already undergoing major developments from sectors such as city surveillance, public transport, hospitality, airport security, BFSI and retail. The market trends also show that verticals like small and medium enterprises (SMEs), small and medium businesses (SMBs) and small office home offices (SOHOs) are the major segments driving the growth of security and surveillance products in India.
Switch from Analog to Digital
The Indian market for surveillance and CCTV is fast changing with new technologies being introduced coupled with the technological advancement being more towards software-based solutions than hardware-based. The latest technology expected to dominate this space is the network or IP camera. These cameras stream live video via digital packets across and internet protocol network such as LAN (Local Area Network) leading to video streams which can be accessed remotely via smartphone, tablet or other network devices. Emerging demands for such security equipment would further encourage better technology.
Channel opportunities
With the growing security demand from the SOHO and SME segments, the channel plays a larger role in marketing the concept. The need is to develop the solution selling approach with the customer’s need and move away from the passive seller to the active one with value addition in terms of larger product portfolio and reach. Since there are lesser entry barriers in the Indian security industry with players coming from IT, electrical, automation and core security areas, it would be challenging to address all of them.
Brand positioning
Panasonic has always believed in providing value and cutting-edge technology solutions to its customers. The research and development team is constantly analyzing the market trends and the needs of the consumer through their buying behaviour. Panasonic’s strategy has always been focussed in proving satisfaction to their customers. The company will cater to the industry's portfolio of reliable, integrated security solutions, arming professionals from government, enterprises, schools, healthcare facilities and other organizations with the situational awareness necessary to make timely, actionable decisions that put safety first. With the introduction of the latest security and video surveillance technologies, the company continues to expand the capabilities of the security solutions portfolio to help protect people, property and assets across the world with the state-of-the-art technology solutions that meet their operational needs.
Growth continues…
Panasonic foresees a huge growth in the Indian security space, the market for electronic security equipment is still largely untapped and under-served as there is need for greater awareness about the installation of electronic security equipment and associated benefits.
As per a recent report, the electronic security market in India is projected to grow at a CAGR of 24.0% during FY’2013-FY’2018.
Government bodies, financial institutions and private organizations are enhancing their budgets for video surveillance and network security systems. Other than this, the growth is also expected on account of the growing urban population, improved residential, commercial and industrial construction and rising GDP of India. The escalating alertness about benefits of the electronic security equipments amongst the Tier-I, Tier-II and Tier-III cities of the country will encourage players in the electronic security market to expand their centres across the potential markets in India.
aparna@varindia.com
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