INDIA – Bosch Security Systems is looking at harnessing big business opportunity by manufacturing 25% of products and achieving 5% of its total global revenues from India by 2020.
“The Indian Security market has matured greatly from what it was a decade ago. There has been a surge in the need for improved security solutions. This coupled along with the intention to become smart is an entry point for technology forward companies like Bosch to take advantage of,” said Sudhir Tiku, Country Head of Bosch India Security Systems.
Bosch eyeing key segments
Tiku said Bosch Security Systems finds immense growth potential in segments such as transportation, energy and infrastructure. “We are preparing to provide safety, security and communication solutions that are in line with India’s Smart City initiatives. We are collaborating with partners who have been present in this eco-system for long,” he said.
Besides localising products, the business entity has also made a systematic investment in research and development to achieve the goals associated with the ‘Make in India’ campaign.
“We have increased our R&D spend by 30% so that security technology lives up to Bosch’s global requirement. It will help us achieve security of infrastructure, the people and society at large,” he said.
Tiku pointed out that security in India is not a priority because of the cultural bias. “Now, we have started talking about digitisation and how to make things smarter. Security is also a part of this component. It will expand the market size eventually. Bosch has also started awareness and training programme so that business will pick up in this segment,” he added.
He said the business vertical has achieved a growth of 26.6%, driven by orders in the transportation, power and steel industry.
“Trend-setting products like the new range of digital conference system, digital voice announcement system, wireless conference system and portable loudspeakers introduced during the year were well received,” he said.
Besides enterprises, Tiku said Bosch Security Systems is looking at tapping the small and mid segments of the Indian market.
“We have a 100-member team right now and a separate R&D division. Besides product innovation, we are also adding additional services on the top of our global innovation,” he said.