The safety market ecosystem is rapidly adopting AI, IoT and cloud-based technologies and various options to supply full proof options.
Ashish P. Dhakan, CEO, Prama Hikvision India, stated, “The adoption rate for AIoT solutions is growing faster with the awareness of its advantages. We are at the forefront of AIoT technology innovations and is offering cutting -edge technologies in all its latest products and solution.”
“5G-enabled cameras are eliminating cabling needs for applications like highway surveillance. Even familiar products like X-ray scanners are getting smarter, now using AI to identify items and generate QR codes,” he stated whereas talking at SAFE West India exhibition held in Mumbai. “These advancements underscore the growing importance of technology in security,” he added.
Sandeep Sabharwal, Assistant Vice President – Corporate Administration, Aditya Birla Management Corporation Pvt. Ltd., stated, “The evolution of security is evident, from traditional methods to integrated technological solutions like AI, IoT, and cloud-based systems.”
“Now security is an integrated form, not limited to a guard at the gate but includes sophisticated systems such as video monitoring, perimeter intrusion detection, and drone surveillance, enhancing overall safety,” he stated.
Anup Nair, President Sales, CP Plus, stated the surveillance business estimated at roughly $2 billion in measurement, has stabilised
submit COVID and is rising at a CAGR of 15-18%. “We grew at rate of almost 25% last year,” he stated.
Yogesh Mudras, Managing Director, Informa Markets in India, the organiser of the exhibition stated, “As India strives to achieve its target of a $5 trillion economy, the government’s investment of approximately $30 billion in smart city initiatives underscores the growing importance of security and safety infrastructure.”
“Related hardware, including surveillance and safety equipment, communication devices, displays, video surveillance, access control systems, and detectors and sensors incorporating Internet-of-Things technologies, will be in high demand,” he added.
“Additionally, with the Indian Electronic Security Market projected to surge from $2.56 billion in 2024 to $7.36 billion by 2029, at a compelling CAGR of 23.57%,” he added.
Sanjeev Tiwari, ARVP, American Society for Industrial Security (ASIS) West India Region, stated “The emphasis on technology in today’s security landscape is undeniable. Many organizations are now looking to replace mundane tasks with technology. Especially in a country with a population exceeding 1.4 billion, it’s essential to adapt to the changing technological landscape.”
“As the threat landscape evolves, from terrorism to insider threats and geopolitical risks, it’s essential to adapt to these changes,” he stated.
According to business executives, the current improvements in surveillance, safety, and community choices are steadily lowering the prices of specialized merchandise and rising their total effectiveness. The digitisation and the ever-increasing deployment of video surveillance programs are additional catalyzing market development, they added.
