Rising need for performance management across the SOHO, SMEs, retail chains, industrial and residential segments as well as growing infrastructure, government initiatives & funding and increasing terrorist & criminal activities have created new opportunities for the India video Surveillance Camera (VSC) market. According to 6Wresearch, India VSC market shipments value reached $100 million. Hikvision led the market followed by CP Plus.
Table: India Video Surveillance Camera Market, By Camera Shape
Source: 6Wresearch India Video Surveillance Camera Market Annual Tracker
Analog CCTV cameras captured major share of the India Video Surveillance Camera Market due to factors such as ease of installation and cost efficiency. However, market is witnessing a steady shift towards IP based CCTV cameras as they are economical over the long run. Recent advancements such as motion sensor based detection, biometrics detection, distant monitoring ability, high dependability and ease of access through smart devices including tablets and smartphones have expanded the potential application segments and of the market.
Manufacturers are shifting their offerings from single-platform to multi-platform services popularly known as Video surveillance as a Service (VSaaS) to create awareness among the Indian consumers. Rapid growing urban population is expected to escalate the growth of India VSC market. Further, rising security awareness among the Tier-I, Tier-II, and Tier-III cities will encourage the foreign players as well as boost the domestic production of VSCs in India. Additionally, increasing investment activities by the GOI across various verticals such as installation of CCTV cameras by National Highway Authority of India (NHAI) at toll booths will further fuel growth of the India VSC market.