Posted On: 2017-05-09
In 2016, India crossed 3 million mark for the reported crime incidences, which grew at a rate of over 5% in the last 5 years. Government has taken several initiatives to increase surveillance in sensitive areas and places such as installing CCTVs at traffic signals, government offices, railway stations, airports and metro stations. Smart city initiatives by the government where over 100 cities are to be developed for better connectivity and security as well as the demand from commercial sector are expected to drive India’s video surveillance market over the next six years.
According to 6Wresearch, India Video Surveillance Market is projected to grow at a CAGR of nearly 13% during 2017-23. Over the past 5 years, India has experienced rising terrorist activities, communal violence and homicide cases which have prompted the Indian Government to take proactive measures for strengthening homeland security. Rapid industrialization, urbanization and growing commercial market have further contributed to the growth of India’s Video Surveillance Market. Growing usage of video surveillance systems across various verticals predominantly hospitality, banking & financial, government & transportation and commercial offices have created immense growth opportunities for the manufacturers, distributors and system integrators in this industry.
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "IP video surveillance segment is registering key growth in India’s video surveillance market and is rapidly outdoing the analog based video surveillance segment. IP video surveillance systems are highly flexible in providing access to footage from any remote location over the internet."
"Moreover, IP digital infrastructure is scalable and the number of devices that can be added to the network has no limit and hence, the government of India and various organizations are upgrading their surveillance infrastructure."
According to Kushagra Sharma, Research Associate, Research and Consulting, 6Wresearch, "there is an increasing adoption of video surveillance systems by the commercial offices. The SMEs have accounted for the key deployments of video surveillance systems owing to low budget allocation. Additionally, large scale enterprises are gradually moving towards IP video surveillance systems as these offer better scalability and image quality."
"Further, the commercial offices are increasing their spending on IT infrastructure and electronic security due to rising incidences of data theft and fraudulent activities. The increasing number of Special Economic Zones along with the security concerns of the firms for theft and fraud have placed this vertical as one with highest potentials for India Video Surveillance Market."
Some of the major companies in India Video Surveillance Market include- Hikvision, Dahua, CP Plus India, Bosch Security Systems, and Axis Communications.
"India Video Surveillance Market (2017-2023)" provides in-depth analysis with 90 figures and 56 tables covered in 209 pages. The report estimates and forecast the overall India Video Surveillance Market by Revenues, Sales Volume by Types, Verticals, Specifications and Regions. The report also gives insights on competitive landscape, market share by companies, company profiles, market trends, drivers and restraints.