Secures Systems Pvt. Ltd is a new-age Internet of Things (IoT) company with a vision of being the largest provider of electronic surveillance (e-surveillance) services in India. The company offers Distinctive Monitored Intrusion Alarm solutions to meet the need for high-value asset protection of its clients. It is centered on proactive ways of preventing crime. Sunil Udupa, MD, Secures System Pvt. Ltd, in an email interaction with Anurag More, speaks about the e-surveillance market for food & beverage in India.
How big is the e-surveillance market for food & beverage in India? What is the outlook for the market?
The Indian security and surveillance industry clocked Rs 40,000 crore in 2014 and is expected to reach Rs 80,000 crore by the year 2020. This industry, which primarily comprised security guards, is now witnessing a paradigm shift towards electronic surveillance.
There are few sectors in India that have witnessed uninterrupted growth and the food & beverage sector is one of those. According to a report (FICCI) issued last year, with the expansion rate at an average annual pace of 24%, the sales in this sector will exceed Rs 3 trillion by March 2017. Fast food that comprises QSR, holds the largest market share of 45% in this space and is supposed to grow by 16% a year. With this, there will be a surge in the subsidizing industries to this market. E-surveillance, however, stands as one of the main challenges and hence likely to expand at an average rate of 13% by 2019.
According to 6Wresearch, the India Video Surveillance Market is projected to reach $2.4 billion by 2020. The surveillance industry is growing gradually and commercial space is emerging as the potential market for us due to increasing awareness and demands for surveillance in education, hospitality, and retail.
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Media Courtesy : FnB News