Indian Surveillance Market Is Gaining Traction: Study

by CXOtoday News Desk    Nov 01, 2017

Indian Surveillance

Increased economic activities, higher urbanization rates, residential and commercial infrastructure modernization, and rising crime are factors driving the need for video surveillance in India.

A shift from analog to IP technologies, cloud solutions for storage, and rise of video surveillance-as-a-service (VSaaS) present new, untapped opportunities for security solution providers, states a study by Frost & Sullivan

The research firm’s “Indian Video Surveillance & VSaaS Market, 2017”, analyses said that along with exploring the sub-segments of the video surveillance and VSaaS market in detail, the insight also focuses heavily on the trends, directions and high growth segments for future. It emphasizes on the dimensions necessary to make informed decisions for growth in the surveillance market.  

Another surveillance category which is gaining momentum worldwide, is the Mobile Video Surveillance which was valued at 1.40 Billion in 2017 and is expected to reach USD 2.32 Billion by 2023, at a CAGR of 8.77 percent between 2017 and 2023, states a study by MarketsandMarkets.

The Mobile Video Surveillance market includes hardware constituting Cameras, Storage Solutions; Software constituting Video Analytics, VMS, Service) and; Application constituting Trains and Trams, Buses, Transport Vehicles, Police Cars, Drones.

The increasing installation of surveillance cameras, improving infrastructure and deployment capabilities, rising demand for intelligent and scalable mobile video surveillance solutions, rising demand for cloud-based surveillance solutions, and growing adoption of IP cameras are the driving factors for the mobile video surveillance market growth, states the study.

The Mobile Video Surveillance market includes hardware constituting Cameras, Storage Solutions; Software constituting Video Analytics, VMS, Service) and; Application constituting Trains and Trams, Buses, Transport Vehicles, Police Cars, Drones.

The increasing installation of surveillance cameras, improving infrastructure and deployment capabilities, rising demand for intelligent and scalable mobile video surveillance solutions, rising demand for cloud-based surveillance solutions, and growing adoption of IP cameras are the driving factors for the mobile video surveillance market growth, states the study.

Hardware components have become technologically more advanced and affordable. The rising safety and security concerns, increasing crime rates, and growing terror attacks are some of the factors driving the growth of the camera market. Also, the constantly falling prices of cameras help to increase the adoption rate of surveillance cameras across the world, noted the study.

According to the study, the market for the transportation vertical is expected to grow at the highest rate between 2017 and 2023. The demand for security systems in public transport, mass transit systems, ports, and so on is increasing to reduce robbery and criminal activities.

As far as Indian IP technology and VSaaS market is concerned, “In the next few years, western parts of India such as Maharashtra and Gujarat are expected to witness double-digit growth rates for video surveillance in verticals like retail, business, and financial services,” said Manu Tiwari, Program Manager, Measurement & Instrumentation Practice, Frost & Sullivan.

“While north India’s planned National Investment and Manufacturing Zones (NIMZ) corridors and freight corridors are driving strong revenue base anticipation from Government and manufacturing verticals, South India is ensured a healthy demand for video surveillance due to a booming service sector and large manufacturing companies. With not many enterprises based in the East, the growth is expected to be over a small base, hence, is relatively low.

“Currently, video surveillance is an under-penetrated market in India,” observed Tiwari. “To augment adoption, there is an urgent need to educate customers about security, surveillance, and analytics associated benefits to businesses.”