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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

India to become largest Security Market by 2020

SI Team
Thursday, September 30, 2010
SI Team
By 2020 India will become one of the largest players in global homeland security market, according to a recent study.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) & KPMG report titled 'Homeland Security in India' says, India, along with Britain, Germany and France will out grow U.S., which currently enjoys a 34 percent market share in this filed.

India, which currently shares 3.6 percent of global homeland expenditure, will require to take it upwardly to an extent of six percent over the next decade to effectively take on emerging security risks. The report has predicted that China, India, Turkey, Saudi Arabia and UAE are expected to exhibit the fastest market growth in this sector, driven by a combination of economic growth along with increasing threats of terrorism faced by these countries.

"By 2020 about six percent of global procurement in the field of homeland security is expected to be emanated from India," says Dr. Swati Piramal, President, ASSOCHAM.

As per current estimates homeland security expenditure projection as a percentage of global spending in case of India is 3.6 percent, France - 3.4 percent, Germany - 3.7 percent, Saudi Arabia - 4.5 percent, UK - 3.9 percent, China - 5.2 percent, U.S. - 33.3 percent.

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