Rising transportation infrastructure, increasing public surveillance, government security spending, growing IT spending across major applications, and surging crime rates have fuelled the demand for video surveillance systems in India. Video Surveillance Camera (VSC) market which is dominated by analog surveillance camera is witnessing a shift towards IP surveillance cameras on account of declining prices and demand for remote access.
According to 6Wresearch, India Video Surveillance Market have registered more than 1 million units for CY 3Q 2014. In the current Quarter, India VSC market experienced a decline of around 16% over CY 2Q 2014. However, YOY growth of approximately 55% was registered in CY 3Q 2014 as compared to the same quarter of previous year. Some of the major players in the India VSC market are Hikvision, CP Plus, Dahua Security, Securus, Secure-Eye and Maximus.
Source: 6Wresearch India Video Surveillance Camera Market, Quarterly Tracker
Note: Others include Box, pinhole, cube etc.
According to Anuj Mehrotra (Research Analyst, 6Wresearch-India Electronics Division), “Over the past decade, India Video Surveillance Camera market has witnessed various technological advancements such as remote monitoring, cloud storage and integrated video analytics. Further, the surveillance cameras which are available today are far cost effective, technologically sound and more user friendly”.
“Video analytics market in India is in its nascent stage, where rising security threats and criminal identification are expected to boost its market in the coming quarters, which would in turn fuel the demand for IP surveillance cameras”, he added.
Video Surveillance systems in India have captured major share of the modern security systems, though, installation and maintenance cost remains a major challenge for the growth of India’s Video Surveillance market. However, Government and OEM’s are taking various initiatives to increase the awareness regarding the irrefutable advantages as compared to the onetime cost of surveillance systems.