India is one of the fastest growing markets for security services. Despite rapid advances in technological solutions, one cannot rule out the importance of human involvement and presence in securing assets and facilities. In India, there are close to 15,000 registered private security services agencies, employing an es
India is one of the fastest growing markets for security services. Despite rapid advances in technological solutions, one cannot rule out the importance of human involvement and presence in securing assets and facilities. In India, there are close to 15,000 registered private security services agencies, employing an estimated 6 million people. Growing terrorist attacks, disastrous events, security threats for high-net worth and high-profile individuals (businessmen, industrialists, political leaders, celebrities), and security at airports, transit hubs, retail malls, jewelry stores, offices, manufacturing complexes and other places have resulted in high demand for security services in India. As the nation continues to build assets, the need to protect its infrastructure using high-tech surveillance and intrusion detection devices supplemented by competent manned guarding is turning out to be the right security solution.
Real estate projects' value in India that eclipsed US$100 billion in 2010 is expected to surpass $265 billion by 2020. The commercial segment, particularly office space and mall space, has remained flat and shown signs of slowdown in the recent 1.5 years. However, new office space, malls, hospitals, hotels and other projects are back on track, once the credit rates and inflation soften. According to United States Agency for International Development, the commercial building sector in India is expected to reach 1.9 billion square feet by 2030, as against the present 659 million square feet. About 75% of the real estate projects' value is contributed by projects in the residential segment, which include not only single homes, ground (G)+2/3/4 floors, but also taller structures reaching up to 30 to 40 storeys.
As building companies deploy smart technologies in new structures (such as using sensors to measure energy sources across the building and to monitor the flow of people) a secondary goal is to increase security and safety of the building in case of emergency or other threats to the general public. In future cities, the more integrated and interoperable security and safety systems are, the higher is the requirement for technically skilled, qualified and specialized man guards. Moreover, in future, with the concept of safe and smart cities rapidly spreading, different levels of partnership from all organizations and stakeholders are required.
Going forward, manned guard services will have to rework their business models and market approach to partner with other industry sectors (for example, energy, building technologies, security, IT). While Indian cities may still have a long way to go to deploy “safe” and “smart” concepts, solution architectures and technologies, industry participants must understand this market to better adapt their respective roles. This industry, in future, will no longer be seen just as a guarding service provider employing hundreds or thousands of retired service personnel, but one that best utilizes man and machine.