Rising transportation infrastructure, increasing public surveillance, government security spending, growing IT spending across major applications, and surging crime rates have fuelled the demand for video surveillance systems in India. Video Surveillance Camera (VSC) market which is dominated by analog surveillance camera is witnessing a shift towards IP surveillance cameras on account of declining prices and demand for remote access.
According to 6Wresearch, Indian VSC market has registered more than 1 million units for CY 3Q 2014. In the current quarter, Indian VSC market experienced a decline of around 16% over CY 2Q 2014. However, YOY growth of approximately 55% was registered in CY 3Q 2014 as compared to the same quarter of the previous year. Some of the major players in the Indian VSC market are Hikvision, CP Plus, Dahua Security, Securus, Secure-Eye and Maximus.
According to Anuj Mehrotra, Research Analyst, 6Wresearch – India Electronics Division, “Over the past decade, Indian Video Surveillance Camera market has witnessed various technological advancements such as remote monitoring, cloud storage and integrated video analytics. Further, the surveillance cameras which are available today are far cost-effective, technologically sound and more user-friendly.”
Video Surveillance systems in India have captured a major share of the modern security systems, though installation and maintenance cost remains a major challenge for the growth of India’s Video Surveillance market. However, the Government and OEMs are taking various initiatives to increase the awareness regarding the irrefutable advantages as compared to the one-time cost of surveillance systems.
