India Video Surveillance Market revenues size is projected to grow with a CAGR of 20.8% during 2023-29F

In terms of components, the camera segment attained the largest revenue share in the India Video Surveillance Market – 6Wresearch

By components, cameras accounted for the highest revenue share in the India video surveillance market in 2020 owing to the surging use of cameras by law enforcement agencies and the deployment of CCTV cameras across major verticals like transportation with advanced intelligent functionalities such as AI and machine learning solutions which enable facial recognition, thermal scanning, and monitoring, among others.

According to 6Wresearch, the India video surveillance market revenue size is projected to grow with a CAGR of 20.8% during 2023-29F. India video surveillance market has grown considerably over the last few years on account of various government initiatives and infrastructural projects such as the Smart Cities Mission, UDAN scheme, National Digital Policy-2018, and orders by the state government to install CCTV cameras in the public domain for safety and security purpose. India Video Surveillance market is expected to grow in the upcoming years on account of increasing investment in the real estate sector, as it is predicted to grow to $ 1 trillion by 2030, coupled with increasing demand in hypermarkets, supermarkets, and various other medical facilities which would further propel the usage of video surveillance over the coming years. Video Surveillance involves the recording of a huge amount of data, and because of insufficient data storage laws in the country, there are no regulations that tell when the data is to be stored or after what time it could be discarded. With the rising cybercrimes, there is always an agitation that the sensitive data could be leaked and could be used for inadequate means.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, the government witnessed the highest revenue share in the overall India video surveillance market revenues in 2020 owing to the rising focus of the government towards infrastructural development via initiatives like Atal Mission for Rejuvenation and Urban Transformation (AMRUT), safe city initiatives, and others. Further, the same vertical would dominate the market in the forecast period owing to the allocation of funds towards the transport infrastructure, deployment of CCTVs across the police stations, and the favorable state as well as central government policies in order to ensure safety and enhance accountability.

The India video Surveillance Market (2023-2029) report provides an in-depth analysis with 37 figures and 19 tables, covered in 106 pages. The report comprehensively covers the market by components, verticals, and regions. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.