According to 6Wresearch, India Video Surveillance Market is projected to grow at a CAGR of over 13 per cent from 2016 to 2022 backed by rising security concerns, primarily related to terrorism threats and increasing crime rates.
Amongst all electronic security systems, video surveillance systems have captured key share of the market pie.
India has emerged as one of the most promising markets for electronic security systems in last six years.
Additionally, India’s video surveillance market is also driven by increasing IT spending coupled with government initiatives.
Until 2015, analog video surveillance systems captured majority of the market demand owing to low cost and ease of installation. However, analog video surveillance systems market is gradually becoming matured and is being overtaken by IP surveillance systems.
“ IP video surveillance segment is expected to overtake analog video surveillance segment over the next six years attributed to declining prices, higher flexibility, scalability, remote accessibility and rising IT infrastructure,” says Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch.
The major companies in India video surveillance market include- Axis Communications, Bosch Security Systems, CP Plus, FLIR Systems (DVTel), Samsung, Honeywell, Panasonic, Pelco, Sony, Dahua and Zicom.
By Belal Khan
