New Delhi, Jun 15 (UNI) With growing concern for security, Bangalore-based Smile Security and Surveillance Technology (SSST) has partnered with China's CSST to strengthen its product portfolio in the Rs 2,000 crore surveillance systems market.
''The prospects of digital surveillance market has grown after the security threats being faced. We have done projects for retail chains, housing complexes and many government offices,'' SSST Managing Director Rahul Gupta told UNI.
The market is expected to grow to Rs 10,000 crore by 2010, he added.
China Security and Surveillance Technology (CSST) currently exports to South East Asia, Europe, Latin America and Russia.
''We are looking at India and Japan as potential markets. My personal goal would be to have a 20 per cent market share in the Indian region,'' CSST Vice President and General Manager (Global Innovation Alliance and Integrated Marketing Centre) Alex Kuo said.
CSST is listed on the New York stock exchange.
Currently, CCTV comprises 55 per cent of the digital surveillance market. ''The partnership will have CSST provide the technology, while the product manufacturing and distribution will be taken care of by SSST.
Major players in the surveillance segment include Honeywell, GE, Pelco, Samsung, Yoko, Merrit Lilin, Hanse, Hi Sharp, CBC, Sanyo, American Dynamics, Vicon, Sony, Axis, DVTel and Verint.
The partnership will also look at setting up a manufacturing when economy of scale is achieved. ''We have planned to set up a manufacturing plant, but that will be taken into consideration only when we get the desired market,'' Mr Gupta said.
UNI SR PDT NS1643