Increasing security concern, rapid infrastructure growth, and rising need for IP surveillance cameras have fueled the demand for Video Surveillance Storage devices in Indian market. Moreover, technological advancements such as facial-recognition and expansion of CCTV based applications, have further driven the need for storage solutions in the India Video Surveillance market.
According to 6Wresearch, India Video Surveillance Storage market comprising DVR and NVR shipments value reached over $29 million during CY H1 2014. Hikvision led the market followed by Dahua and CP Plus. Other major players in the India Video Surveillance Storage market are Juan, Secureye, Maximus, 19Vision, Antai vision and Zicom.
Source: 6Wresearch India Video Surveillance Storage Market, Half-yearly Tracker
Note: Others include 32, 16, 6 and 1TB storage devices.
According to Anuj Mehrotra (Research Analyst, 6Wresearch-India Electronics Division), “India Video Surveillance Storage market has been witnessing a shift in demand towards higher capacity devices as a result of declining prices of NVR/DVR”.
In the India Video Surveillance Storage market, 4TB storage segment registered a sequential growth of around 35% in CY 2Q 2014, as compared to the previous quarter same year’.
He further quoted, “India Video Surveillance market is witnessing a paradigm shift towards IP based surveillance cameras over the traditional Analog surveillance systems. Implementation of CCTV applications among various sectors such as Transportation, Industrial, Retail and Healthcare would spur the growth of India Video Surveillance Storage market over the coming quarters”.
Demand towards hybrid NVR/DVR devices over the traditional basic video recorders has been witnessed among the Indian consumers. However, high installation cost and lack of standardization remains a major challenge for the growth of India Video Surveillance Storage market.