- Driven by rising security concerns, increasing crime rate and rapid economic growth, video surveillance market in India is likely to value $5 billion by 2024.
- High maintenance and acquisition cost, slow government clearance are the points that may hamper the growth of this market.
- Market revenue is majorly drawn from the northern part of the country, which were majorly used at the airports, railway stations, educational institutions and power plants.
Goldstein Research in its latest study forecasts India video surveillance market to reach $5.0 billion by the end of 2024 from $850 million in 2016, growing at a CAGR of 33%. Rising incidents of terrorism, thefts, burglary, and other human and material safety related issues are driving the growing demand for video surveillances.
According to Goldstein Research, “Indian surveillance market is adopting the latest technology also with the help of Government who has introduced Modified Special Incentive Package scheme (M-SIPS) to encourage manufacturing in video surveillance industry. The main purpose of the scheme is to provide incentives to promote electronic manufacturing in India and to build ecosystem of supporting a globally competitive Electronic System Design & Manufacturing (ESDM) sector. Also high maintenance and acquisition cost, slow government clearance etc are the points that may hamper the growth of this market.”
Analysts also reveal that India video surveillance market Research has been done on the basis of types, specifications, end-users and geography. Analog based surveillance accounts for largest market share, whereas IP surveillance is expected to grow at the fastest rate in future backed by the growing IP infrastructure. India video surveillance market revenue was majorly drawn from the northern part of the country, which were majorly used at the airports, railway stations, educational institutions and power plants.
India Video Surveillance Market report by Goldstein Research contains detailed overview of the India video surveillance market. Further, for the in-depth analysis, it encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes competitive outlook of some of the major players profiling of companies such asAxis Communications AB, Bosch Security Systems, Inc., CP Plus India Pvt. Ltd., FLIR Systems, Inc. (DVTel), Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Techwin Co., Ltd., Honeywell Automation India Limited, Panasonic India Pvt. Ltd., Pelco by Schneider Electric, Sony Corporation, Zhejiang Dahua Technology Co., Ltd., Zicom Electronic Security Systems Ltd.,etc.
The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the India video surveillance market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.