We aim to support our partners with our innovative Security offerings
B2B Business Head, LG India
'What is the size of the surveillance & security industry market? Share global and Indian figures both.
The demand for security and surveillance products is robust today and their growth is expected to accelerate in the future. The Indian security industry still has a long way to go to match the standards of the developed world. The electronic security industry, which is largely import-based, is fast expanding and is estimated to be close-to Rs.500 crore. It is expected to grow conservatively by about 100%. The market in India is slowly maturing and becoming aware of the fact that security is an important factor and needs to be considered. We anticipate a huge demand for security products in India and being very strong in the imaging business, foraying into the surveillance camera market is perfect obvious option. LG's new security camera series has a range of functions to fit the ever-growing needs of customers and businesses
What is your go-to-market strategy for this market here in India? Please share inputs.
With the extension of LG Security solutions, we aim to support our partners with innovative offerings. We are confident that our technology strength backed with market insight and research will enable us to offer world-class products, creating an effective business environment for our partners. We bring international expertise as we have been operating in this category for more than a decade. Looking at the current market size and demand, we decided to enter into access control systems and surveillance systems. In future, we also plan to enter into alarm security system.
What is your targeted market share?
We target 10% market share in the security vertical by the end of this calendar year, i.e. December 2011.
How many models do you have for the security vertical?
Our product range includes IP Cameras, Analog Cameras, PTZ Cameras, Video Content Analytics and Access Control. And, we have total of around 70 models under these categories as of now.
What is the business potential for the channel partners?
We work on a Regional Distribution model. We have one each distributor (regional distributor) for North, East, West and South. We have announced channel loyalty programme called Security Premier Partners (SPPs). Each RD has more than 50+ SPPs in his territory. The SPPs are mainly solution providers and system integrators. In this year, we have plans to double our SPPs by adding SIs from B & C Class cities as well.
How far are you geared for competition in this market? Please explain.
We believe in providing best of the technology and products. LG security solution offering has two versatile components - Hardware and Software. In the hardware segment, LG cameras come with a unique XDI engine that ensures superior picture quality and clear images at poor light conditions. Some of these cameras can capture images even at 0.000001 lux.
In the software part, our VCA (Video Content Analysis) offering is far superior and feature rich. The best part is that many of our VCA software come as an integral part of the camera itself.
Highlight some of your product offerings in this space?
After successfully establishing itself as a leading player in Home Electronics, Appliances and IT business solutions, LG has launched new security cameras - L332, L6323 and L5323. These new launches boast the world's largest Wide Dynamic Range (WDR) along with a 650TV Lines resolution and a range of user-friendly functions. LG's new 650TV Lines camera series is a core product for LG Business Solution in 2011. Thanks to development of proprietary LG technology, namely, XDI-II ISP, it was possible to create a range of security cameras that are truly world class.
How do you see the real estate (coming up of new societies) as your customer?
To begin with, we are focussing on banking, retail and BFSI. But real estate is also a growing sector and we do see a lot of potential, but as of now it is too early to tap all the potential verticals at the same time. So, we would have a slow and steady approach.
For more contact: Syeda Beenish
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