With security taking center stage, the country is moving towards procuring better and more efficient video surveillance equipment.
As we move ahead towards better security, smart and efficient surveillance becomes an essential part of enabling the security infrastructure of the country. We are witnessing an increased intake of Cameras (Analog and IP), DVR/NVR, Encoders/Decoders, and intelligent video analytics software. Verticals such as Government and Transportation, Banking & Financial, Retail, Industrial, Commercial, and Residential are showing a lot of commitment when it comes to deploying or evaluating surveillance systems and solutions.
It is important to note that the rising infrastructure, government initiatives & funding, rules & regulations, increasing terrorist & criminal activities are the few factors that have spurred the market for video surveillance in India. Today, there is a huge opportunity in front of the local as well as international surveillance solution providers to seriously look at India and tap the potential of this market.
According to 6Wresearch, India Video Surveillance market is expected to reach $952.94 million by 2016, with a CAGR of 32.49% from 2011-2016. In 2011, though analog-based surveillance systems have accounted for the majority of the share i.e. 67.80% in the overall market, IP based surveillance systems are expected to grow with a relatively higher CAGR of 41.78% from 2011-2016.
As more and more enterprise and even the government sector looks forward to ensuring better security cover for their end customers or citizens, there is an ever-growing need for better and smarter surveillance systems and solutions. Now a quick analysis of the on-going trends within the surveillance market tells us that this is perhaps one of the fastest-growing segments today the opportunities are huge. Moving forward, the market drivers like the right policy framework and the availability of affordable surveillance solutions will help the stakeholders to device and align their market strategies and win on the hearts of end customers.
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Media Courtesy : itvarnews