Increasing adoption of new technologies in video recorder market has attain volumetric growth of Close to 1500 thousand units in 2017: Bonafide research

Increasing adoption of new technologies in video recorder market has attain volumetric growth of Close to 1500 thousand units in 2017: Bonafide research

“Increasing crime rate, necessity of safety and security, technology advancements, declining pricing, high acceptance in government projects, transportation sector, and increasing IT spending is expected to drive the market”

According to recently published reports of Bonafide Research "India CCTV (Camera, Recorder, Software, Storage, Monitor) Market Overview 2017-2023",. CCTV video recorder market is expected to grow with a CAGR of more than 15 % from 2018-23. Due to constant upgrades being done on the DVR systems Embedded/ hybrid/ PC based they don't fall too short of the features available on the NVR. Digital Video recorder (DVR) segment has shown widely acceptance in last few years. The category is continuous on dominant base in video recorder market. After introduction of 4G network, IP Based technology gets breathing space in CCTV market. Consumer's than starts gradually shifting from Non IP to IP Based CCTV market for better video surveillance which has pull the demand of Network video recorder (NVR) and hybrid video recorder (HVR).

NVR are now coming with better bandwidth and complete solution based on H.265 compression algorithms. The progress to higher megapixel cameras and 4k and 8k HD images requires more advanced compression recording algorithms as well as the flexibility to support storages onboard cameras. NVR are now come with H.264 and H.265 compression algorithms to improve bandwidth utilization and also accepting HPEG-4 and JPEG formats to allow immediate, live viewing of multiple cameras. The Consumer today understands the technology and their requirements well. Despite India being a price-sensitive market, the consumers today are conscious about the quality of the product and technology used which they are buying. With the quality of working in both technologies (IP/Non-IP), Hybrid camera will progressively getting pace in forecasted period, HVR has high acceptance in Banking Sector.

In CCTV video recorder market 4, 8, 16, 32 channels video recorders have contributed more than 80% of the volume sales. In the initial days of CCTV in India, due to price concerns consumer has shown wide acceptance of 4 channels DVRs. Gradually, prices started falling and which has resulted into shifting to 8, 16 channels. In addition to decline in camera price, the price difference between 4, 8, 16 channel video recorders has also decreased. It has resulted into scale the number of cameras; consumers have started adding more cameras for better surveillance has pulled the demand of 8,16,24,32 channel video recorder in CCTV market.

Looking at the growth pace of CCTV market, Technological advancements in video recorder market will boost the demand of DVR/NVR/HVR in future. It is expected that shifting from non-IP to IP Based technology will benefit NVRs to overtake DVR in forecasted period. The increased focus of the governments on security and surveillance projects is poised to create bigger opportunities for CCTVs players, System Integrators and Technology partners.

Major Companies Operates in 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 Overview, 2017-2023

Base Year: 2017

Estimated Year: 2018, Forecast Year: 2023

Pages: 129, Figures: 80, Tables: 5

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