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 is pouring interests in the Indian market for Surveillance. Furthermore, Adoption of new technologies, growing awareness, Increasing crime rate, government initiative in smart cities project has pulled the demand of CCTV surveillance in tier 2 and tier 3 cities”.

India video surveillance market is includes CCTV Camera, CCTV video recorder, Storage, Monitor, and Others (cable, accessories, power supply, VMS, analytics). 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 an 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 recently published report of Bonafide Research “India CCTV (Camera, Recorder, Software, Storage, Monitor etc.) Market Outlook, 2023”, The CCTV market grew with a CAGR of more than 20% from 2012-17. CCTV Camera is highest contributing segment in video surveillance followed by Video recorder (DVR/NVR) and storage. Technology wise non-IP CCTV Market is dominating the segment in CCTV Camera. Dome Type CCTV Camera is highest contributor in Both the Segment. DVR is the popular choice in India having major contribution in video recorder segment followed by NVR and HVR. NVR/HVR will together account more than 50% market share in forecasted period. Residential sector is the major contributor in DVR segment.  

CP Plus is a market leader in CCTV Market contributing more than 15% market share. Brand promotion with salman khan through reality show like Big Boss with the tag line "Upar wala sab dekhta hai" has shown robust growth indicator for CP Plus. CP Plus is the most preferred brand in Non-IP CCTV Camera market in India. Other players like Hikvision, Dahua, Zicom are gaining pace in CCTV market. Recently, the emerging CCTV industry has attracted many new players like Videocon, D-Link, in CCTV market. The companies are targeting the eastern region to garner its revenue in forecasted period. New Entrants is taking leverage of low potential eastern market contributes just 8.72% market share in 2017.   

Recently, Delhi and Maharashtra government has order more than 1.20 lakh CCTV Camera for better surveillance of cities. Central Government`s smart city project over 100 cities are to be developed for better connectivity and security would further fuel the growth. On the other hand, demand from commercial sector is expected to propel India's video surveillance market in upcoming years. It is expected that Internet Protocol (IP) video surveillance segment will overtake the analog-based video surveillance segment by 2023.

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 Outlook, 2023

Base Year: 2017

Estimated Year: 2018, Forecast Year: 2023

Pages: 168, Figures: 81, Tables: 12


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