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How secure are you?
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Home security market is growing at a less frantic pace. A look by ANJANA CHANDRAMOULY
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Safety first: Easy-to-handle home security system
Till about a few years ago, the security needs of an average Indian home was taken care of by grills, locks, a pet and, at the most, a watchman. But today, people have started using burglar alarm systems to get alerted when someone tries to break into their home.
Consumers today are demanding products for secured homes and also those that fit their lifestyle needs, says Dhiraj Wali, Vice-President, Bosch Security Systems, India.
The latest consumer-led trend for “lifestyle homes” includes, besides plush interiors and home accessories, reliable electronic security systems and hi-tech gadgets. Leading property developers across the country are investing in latest electronic security systems such as intrusion alarm system, video door phones, CCTV and access control system.
However, the home security market is growing at a less frantic pace when compared to security solutions for commercial applications, adds Wali. The demand for home security and smart home solutions has enabled home automation technology to slowly become a part of everyday life, says Anant Maheshwari, Director, Honeywell Security (South Asia). “Till a few years ago, a smart home was a luxury affordable only for the elite few, but today, advancement in low-cost technologies and greater awareness has made the accessories available for much larger numbers.”
Home security systems growth in the country is directly linked to real estate growth rates, more so in metros and A-class cities; “in fact, these products are expected to grow at a faster rate also considering increasing penetration in existing homes in addition to business from dwellings under development,” says Maheshwari.
Customer preferences
Though there are no official statistics to draw upon, the security intrusion market is estimated to be anywhere between $5 million and $200 million, says Wali. Products from his company include video surveillance, intrusion alarm, fire detection, public address and evacuation, management and access control systems as well as professional audio, wireless, life safety and communication equipments.
According to Maheshwari, security and home automation products are preferred by customers living in all types of homes. Standalone burglar alarm system and video door phone are preferred by people in bungalows or independent houses. Most of the apartment communities require networked security with video door phone and intercom facilities, he adds.
Those living in high-end luxury apartments go a step further and install networked home automation solutions along with basic security systems.
Townships are planned with integrated perimeter security, smart card-based access control solutions and networked home automation solutions.
“Every single home has the need for security. Solutions are now not restricted to just the high-net-worth homes. However, most customers prefer to go for branded and globally-proven solutions as they are now available in the Indian market,” he explains.
Wali says that Bosch strives to innovate and customise product offering to meet the local market demands.
“In this direction we have ‘customised’ some key products which are being very well received.”
Like the pre-packaged, plug-and-play wired and wireless intrusion kits complete with all accessories, which cost upwards of Rs. 9,990 and come with a central monitoring service.
The emergence of nuclear families, double-income-no-kids households and the growing crime rate are key factors which have catalysed growth for the home security products category, says Maheshwari.
Other factors such as greater media coverage of various security solutions, higher disposable incomes, and the reverse brain drain factor that brings back NRIs/international professionals who have been exposed to similar products in other countries also fuel this market.
The foreign direct investment flowing into the residential sector also supports improved penetration of security products. “The need for differentiation of projects through security/home automation systems is a trend clearly seen with tier-one and tier-two developments.”
Some of the other companies in this space include GE and Tyco (DSC), besides others who are primarily offering low-end products made in China, Korea and Taiwan.
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Property Plus
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Chennai
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