Declining purchasing & operational costs, easy installation and increasing awareness towards safety and security measures have fuelled the demand for Video Surveillance Storage (VSS) devices in the country. Additionally, VSS were previously considered as a conventional recording devices and have recently emerged as a key growing segment in the India Video Surveillance Market.
According to 6Wresearch, India VSS (DVR and NVR) market reached over 0.64 Million units in CY H1 2016. CP-Plus led the market with more than 35% share followed by Hikvision and Dahua. Other key players in the India VSS market are Odeon, iBall and Securus.
Table: India VSS Market, By Maximum Storage Capacity
Source: 6Wresearch Quarterly India VSC Storage Market, CY H1’2016
Note: 1. TB denotes Terabyte
2. Greater Than 8 TB Includes 12 TB, 16 TB, 24 TB, etc.
Key Highlights (CY H1 2016)
According to Anuj Mehrotra (Senior Research Analyst, 6Wresearch-India Electronics Division), “Rising demand across various key verticals such as government agencies, institutional organisations, transportation and inter-city surveillance will be the prime growth driver for the India VSS market. Further, recent adaption of surveillance solutions, especially across the residential sector will further increase the demand of VSS devices over the coming quarters”.
According to Nikunj Shrivastava (Research Associate, 6Wresearch-India Electronics Division), “Growing adaptation for Hybrid NVRs and DVRs has been observed in the country. However, on account of advanced features, the Tribrid technology is likely to impend higher demand as compared to the Hybrid ones.”
“Technological advancements such as Face and Voice recognition and HD video & audio recording features are gaining higher acceptance in India. Additionally, Cloud storage solutions coupled with increasing requirement for safety regulations will further boost the demand for these devices in India.”, he further added.
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