India video surveillance camera market shipments grew 55% yoy
Posted On: 2018-05-17 10:40:20 ; Read: 14 time(s)
India video surveillance camera (VSC) market shipments reached 1.04 million units for CY 3Q 2014, recording a substantial YOY growth of around 55 percent over CY 3Q 2013. The market, however, declined around 16 percent over CY 2Q 2014. According to 6Wresearch, rising transportation infrastructure, increasing public surveillance, government security spending, growing IT spending across major applications, and surging crime rates have fueled 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, the research firm stated.Some of the major players in the India VSC market are Hikvision, CP Plus, Dahua Security, Securus, Secure-Eye and Maximus.As many as 140 vendors shipped VSC devices and three vendors shipped above 50,000 VSC devices. Hikvision and CP Plus captured more than 35 percent share of the market.According to Anuj Mehrotra, research analyst, 6Wresearch-India Electronics Division, "Over the past decade, India 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 analytics market in India is in its nascent stage, where rising security threats and criminal identification are expected to boost its market in the coming quarters, which would in turn fuel the demand for IP surveillance cameras," he added.Video Surveillance systems in India have captured 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, government and OEM's are taking various initiatives to increase the awareness regarding the irrefutable advantages as compared to the onetime cost of surveillance systems, 6Wresearch added.
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