Bharat Book Bureau is the leading market research information provider for market research reports, company profiles, industry study, country reports, business reports, newsletters and online databases Bharat Book Bureau provides over a million reports from more than 400 publishers around the globe. We cover sectors starting from Aeronautics to Zoology.
Monday, August 8, 2016
Indian Video Surveillance Market to Hit USD 2.4bn Through 2020
has been witnessing a steady growth of public infrastructure including smart
cities, ports, residential and commercial buildings. But along with this growth
comes the news of rising terrorism, burglary, murder, et cetera. Yes....crime
and terrorism is on the rise in the country. As a result, demand for deployment
of video surveillance systems is also growing. Government spending on
securities ensuring protection of life and assets has also increased. For
instance, video cameras are being installed at almost all major national and
express highways to record accidents and thefts.
It is estimated that this year, thevideo
surveillance market in Indiawill hit USD952.94mn, growing at a CAGR
of 32.49%. By the year 2020, the value of the market islikely
reach USD 2.4bn. Major players in the Indian video surveillance market are Dahua,
Honeywell, Axis Communication, Milestone, Pelco, Hikvision, Bosch, Genetec, and
Zicom. The analogue-based surveillance
system dominates the Indian video surveillance market with around 68% market
share. However, IP-based and wholly-integrated surveillance systems are
becoming popular in India because of features including sensor detection,
remote controlling, video analytics, background screening, and
digital video. In the following years,
Internet Protocol-based (IP-based) surveillance solution is likely to be the
fastest growing segment with a CAGR of 41.78%.
three main points responsible for IP-based video surveillance systems’ growth:
Increasing IP infrastructure
Remote monitoring and controlling
surveillance systems not just record mishaps, but they also provide evidence in
the court of law. With large storage, it becomes easier to track culprits and
their moves. In the near future, systems incorporating business intelligence software will become
popular in the market. With such systems, businesses will be able to improve
their performance by using information recorded at point of sale and marketing.
Mobile-based, cloud-based, and integrated surveillance solutions are
likely to dominate the Indian market in future.