Date : February 16, 2018
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India CCTV Market is changing another perspective to effectively shield fundamental assets from rising threats to safety and security: Bonafide Research

India CCTV Market is changing another perspective to effectively shield fundamental assets from rising threats to safety and security: Bonafide Research

Infrastructure development and security awareness are generating interest in the Indian market for surveillance. Furthermore, the adoption of new technologies, increased awareness, rising crime rates, and government initiatives in smart cities projects have all contributed to the increased demand for CCTV surveillance in tier 2 and tier 3 cities.


 


The Indian video surveillance market includes CCTV cameras, CCTV video recorders, storage, monitors, and others (cable, accessories, power supply, VMS, analytics). As CCTV cameras are now essential in public places, offices, malls etc., as it creates a sort of deterrence in the minds of people to think before they act, as there is a higher possibility that they will be caught. People feel safer in the knowledge that anti-social elements will be put off by the existence of a CCTV camera. CCTV cameras have the capacity to zoom in to reveal someone's identity, which can be helpful to crime prevention when used in the correct way.


 


According to a recently published report by Bonafide Research, ""India CCTV (Camera, Recorder, Software, Storage, Monitor, etc) Market Outlook, 2027-28"", the CCTV market grew with a CAGR of more than 20% from 2012-17. CCTV cameras are the highest contributing segment in video surveillance, followed by video recorders (DVR/NVR) and storage. Technology wise, the non-IP CCTV market is dominating the segment in CCTV cameras. The Dome Type CCTV Camera is the highest contributor in both the segments. DVR is the popular choice in India, having a major contribution in the video recorder segment, followed by NVR and HVR. The residential sector is the major contributor to the DVR segment.


 


CP Plus is a market leader in the CCTV market, contributing for higher market share. Brand promotion with Salman Khan through reality shows like Big Boss with the tag line ""Upar wala sab dekhta hai"" has shown a robust growth indicator for CP Plus. CP Plus is the most preferred brand in the non-IP CCTV camera market in India. Other players like Hikvision, Dahua, and Zicom are gaining pace in the CCTV market. Recently, the emerging CCTV industry has attracted many new players like Videocon, D-Link, and others in the CCTV market. The companies are targeting the eastern region to garner their revenue in the forecasted period. New entrants are capitalising on the eastern market's low potential, which contributed only 8% of market share in 2021-22.


 


Recently, the Delhi and Maharashtra governments have ordered more than 1.20 lakh CCTV cameras for better surveillance of cities. Over 100 cities are to be developed under the Central Government's smart city project for improved connectivity and security, which will further fuel growth. On the other hand, demand from the commercial sector is expected to propel India's video surveillance market in upcoming years. It is expected that the Internet Protocol (IP) video surveillance segment will overtake the analog-based video surveillance segment by the forecast period.


 


Major companies operating in the CCTV market are CP Plus India Private Limited, Prama Hikvision India Private Limited, Axis Video Systems India Private Limited, Dahua Technology India Private Limited, Zicom Electronic Security Systems Limited, Panasonic India Private Limited, Vintron Informatics Limited, Vantage Integrated Security Solution Private Limited, Honeywell Automation India Limited, Bosch Limited, Samsung India Electronic Private Limited, Godrej and Boyce Mfg Co. Limited.


 


Report: India CCTV Market Outlook, 2027-28
Base Year: 2021-22
Estimated Year: 2022-23
Forecast Year: 2027-28
Pages: 137, Figures: 71, Tables: 22


 


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India CCTV Market is changing another perspective to effectively shield fundamental assets from rising threats to safety and security: Bonafide Research

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