The market for IP video surveillance in India is estimated to reach $1.4bn by 2021, according to a new study.

The key driving forces behind soaring demand for IP video surveillance systems in India are the construction of public infrastructure, increased security spending by government, terror concerns and the growing capabilities at falling prices of surveillance technology.

Although bullet shaped cameras accounted for the biggest market share in 2014 but it is the dome shaped camera which is expected to rule the roost in six years' time.

"Declining prices, terrorist strikes, government initiatives, rising public infrastructure, increasing government security spending and growing awareness have fuelled the adoption of IP Surveillance systems in India," says Anuj Mehrotra, research analyst, 6Wresearch Electronics Division.

"Further, surging need for video analytics and remote monitoring has also led to rising penetration of IP surveillance systems in the country. In India's IP surveillance camera market, players such as Hikvision, Dahua, Axis Communication, CP Plus, Panasonic, D-Link, LG, American Dynamics, Honeywell, Vivotek, Bosch, Sony, Samsung, DVTEL, Cisco, Verint and Pelco are the leading contributors of the market."

Government and transportation applications in India have held the majority IP video surveillance market share and are expected to continue in the similar momentum for the next six years. Other applications with potential for growth are banking and financial, retail, and commercial offices.

Called India IP Video Surveillance Market (2015-2021) the report also forecasts other segments of the India Video Surveillance market by analog surveillance, IP surveillance and software (video management software, video analytical software and others).

Insights into market verticals, geographic regions and competitive landscape are also part of the report apart from an analysis of market trends, market drivers and restraints.

Media Source: IFSEC GLOBAL