Hikvision and CP Plus frontrunners in India Video Surveillance Camera Market

India is emerging as one of the fastest growing countries in global video surveillance market. Rising security concerns, government initiatives, rising public infrastructure, and growing awareness are the key factors that are spurring the market for video surveillance systems in India.

Video surveillance systems are getting deployed in wide range of verticals such as government, banking and finance, travel and transport, residential, commercial, healthcare, industrial, and retail. Amongst all verticals, government and travel & transport are driving majority of the revenues in the Indian market.

According to 6Wresearch, India video surveillance camera market revenue is projected to grow at a CAGR of 31.1%, during 2014-19. The players which are majorly shipping their cameras in the country include - Hikvision, CP-Plus, and Dahua Security; where top three players have accounted for 56% of the total market shipments in 2013.

Advancements in technology such as video analytics, two way communication, connectivity over Wi-Fi, and high quality images are leading to additions of new application segments. Growing trends of urbanization, small offices, large residential societies, modernization of government institutions and departments, maintenance of critical infrastructure and historical monuments, and government regulations are further enhancing the growth of video surveillance systems in the country.

Analog surveillance cameras have captured major share in overall India video surveillance market. However, their share is expected to decline on account of growing market for IP surveillance systems during the forecast period. High degree of flexibility, quality, remote monitoring and video analytics are the factors that are driving this shift in the Indian market.

Cameras constitute major portion of cost in the surveillance systems and are majorly imported from foreign countries such as China, Taiwan, Korea, Vietnam, and others. Domestic production constitutes miniscule share in the overall supply in the Indian market and the scenario expected to moreover remain same during the forecast period due to low degree of support from government and lack of technical expertise for mass production.