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Household security gadget market growing by 50%

Household security gadget market growing by 50%
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First Published: Tue, Oct 21 2008. 03 28 PM IST
By PTI
New Delhi: Indians have been splurging huge money on securing their houses and new-found wealth, pushing demand for security gadgets by over 50% to Rs1,200 crore.
Burglar alarm systems, video surveillance and doorphones, access control, wall mount air sensors, motion detectors, two- way key fobs, Wi-Fi camera, wireless external siren and wristband transmitters are some of the ultra-smart devices that are in demand with increasingly affluent Indians.
“While the total security market is growing at the rate of 25-26%, the real estate and residential security market is almost double at almost 52% annually,” Honeywell director, security, South Asia, Deepak Thakur said.
The real estate security market is worth Rs1,200 crore and the security gadgets industry is expecting to piggy back on this growth, Thakur said.
Manufacturers unveiled nearly 25 new products at a security fair - IFSEC India-2008 - that underlines the demand for home security and automation devices. “Also, 30% of the stalls at the fair were visited by real estate developers and individual end users who wanted security and home automation devices,” IFSEC India-2008 project coordinator Anindiya Sarangi said.
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First Published: Tue, Oct 21 2008. 03 28 PM IST