Market Size of India Electronic Security Industry
| Study Period | 2021 - 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
*Disclaimer: Major Players sorted in no particular order |
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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).
- 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.
