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Wipro ventures into the security market
By siliconindia
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Monday, 02 November 2009, 22:02 IST
Bangalore: IT major Wipro, which had ventured into soaps, lighting and furniture businesses earlier, has now made its way into the growing security market in India. In fact, the $5 billion Bangalore-based conglomerate derives close to a tenth of its revenue from non-IT lines, according to Business Standard.
The company is launching security products targeting the home and office environment, expecting huge potential to grow. Wipro Consumer Care and Lighting has just launched security products such as access control, intrusion panels, intrusion alarms, video door phones, gas and fire detectors and CCTV. "We are really excited to enter the home and office security system market. There is a lot more sensitivity about safety issues, especially in the office environment, though not so much in the home environment at this stage," said Vineet Agrawal, President of Wipro Consumer Care and Lighting.
Being a new entrant in the security space, the company wants to study the market in the initial year before chalking out its growth strategy. "Our strategy will be to understand the market deeper. We have the reach with our nationwide distribution network to have a large impact," Agrawal said.
The home and office security system market in India is estimated to be about 
500 crore and growing at 25 percent annually. It is being primarily driven by the office segment, with even small and medium companies having made safety and security of employees a priority. The home segment, a small part of this market, is relatively slow to grow, with adoption of security solutions more in premium high-rise buildings and apartments. However, analysts feel that the home segment should also be growing swiftly, since thefts, murders and other such crimes are increasing.
500 crore and growing at 25 percent annually. It is being primarily driven by the office segment, with even small and medium companies having made safety and security of employees a priority. The home segment, a small part of this market, is relatively slow to grow, with adoption of security solutions more in premium high-rise buildings and apartments. However, analysts feel that the home segment should also be growing swiftly, since thefts, murders and other such crimes are increasing.
