Rising crime rate, developing public infrastructure along with declining prices of surveillance products is expected to drive the growth of India video surveillance market during the forecast period – 6Wresearch
Development plans such as smart city projects, Sagarmala & Bharatmala projects, government initiatives, rising awareness along with strengthening construction industry would generate prospects for deploying video surveillance solutions in India over the coming years. Additionally, infrastructural development such as upcoming hotels, stadiums, commercial offices and recreational facilities along with strengthening of public service sectors such as education, recreation, tourism and healthcare would open up new avenues for the application of video surveillance solutions in the country.
According to 6Wresearch, India video surveillance market is projected to grow at a CAGR of 22.7% during 2019-25. Government initiatives for deploying video surveillance systems in the transportation domain, government regulations in education sector to install surveillance systems, rising number of residential buildings under construction and planning phase along with the development of smart cities would create opportunities for new installations of video surveillance systems during the forecast period in India. Further, rising crime rate and growing security concerns among people would play an important role in the overall growth of demand for surveillance solutions in the region during the forecast period.
According to Chhavi Malpani, Senior Research Analyst, Research and Consulting, 6Wresearch, “The government and commercial offices segments held the maximum revenue share in 2018, by verticals, in the overall India video surveillance market. Further, owing to strengthening construction industry and increasing awareness among people regarding such solutions, the retail and residential sector in India is forecast to witness a boom over the coming years.”
According to Sahil Sharma, Research Associate, Research and Consulting, 6Wresearch, “Amongst components, CCTV cameras captured the highest volume share in the overall India video surveillance market. Between camera types, IP surveillance cameras are anticipated to witness significant growth over the coming years owing to certain advanced features such as better video quality, higher resolutions and several other intelligent and analytical advancements offered by IP surveillance solutions.”
Some of the major companies in India video surveillance market include Hikvision, CP Plus, Dahua and Bosch.
"India Video Surveillance Market (2019-2025)" report provides an in-depth analysis with 94 figures covered in 140 pages. The report estimates and forecast the overall India video surveillance market by components, verticals, regions, camera types, slot types, megapixels, form factor and recorder types. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.