Security device sales on the rise

In 2013, security products importer Credible Technology would receive 8-10 queries a day.

Now, two years later, the number has shot up to 30 queries a day, according to Md Mahbubur Rahman, the company's chief executive officer.

“On many days, the number of queries is more than that,” he said, adding that Credible Technology's monthly sales now cross Tk 5 crore now, compared to Tk 2 crore in early 2013.

Credible Technology's growth is not an isolated incident; the entire security products market is on the same trajectory owing to individuals and organisations' growing tendency to be safe than sorry, following a series of killings this year.

“Anyone who can afford to buy equipment is now seeking extra security measures to deal with their rising safety concerns. Even a small grocer wants to establish surveillance on his shop and monitor his salesmen from his home.”

The demand for CCTV cameras and access networks is quite high, said Md Mohiuddin, owner of MM Technology, a Chittagong-based security product importer.

Metal-detecting archways and surveillance devices are also in demand, according to market insiders.

Industrialists are some of the biggest buyers of security products, followed by banks, corporate houses, shopping centres, restaurant owners and police, who have installed surveillance devices on many streets in Dhaka.

Individuals too are not far behind, seeking enhanced personal security options like round-the-clock surveillance at their homes.

Based on the number of sellers, which is in the hundreds now, and their flourishing business, Rahman says the security solutions market size is about Tk 600 crore a year. 

“We have no official numbers but it is our assumption that the market is growing at a faster rate than the technology is evolving.”

One of the reasons being that there are not many restrictions on the trade of surveillance products from the government, Rahman said.

Most of the surveillance and security products are imported from China, while some are brought from Singapore.

The demand for security is not a purely urban phenomenon either with increasing sales in small towns as well, sellers said.

Apart from the companies exclusively dedicated to security products, many computer product sellers are also increasing their earnings by adding security gadgets to the mix. 

“Recently we are selling more security products than laptops and computer accessories,” said an entrepreneur at BCS Computer City in the capital.