Posted On: 2020-07-30
India Video Surveillance market was dominated by government domain, in terms of revenue, in 2019 – 6Wresearch
Development plans such as smart city projects, Sagarmala & Bharatmala projects, government initiatives, rising awareness along with strengthening construction industry would generate prospects for deploying video surveillance solutions in India over the coming years. Additionally, infrastructural development such as upcoming stadiums and recreational facilities along with the strengthening public service sectors such as tourism and healthcare would open up new avenues for the application of video surveillance solutions in the country.
According to 6Wresearch, India Video Surveillance Market size is projected to grow at a CAGR of 16.6% during 2020-26F. Construction of Jewar Airport, Mopa Airport, and Navi Mumbai International Airport under the UDAN Scheme would drive the growth of the market in the forecast period. Further, the increasing investment in the healthcare sector of India through the AYUSH scheme would be a major reason behind the increasing demand for video surveillance solutions. However, uncertainties raised due to COVID-19 along with a contraction in the funds allocated for infrastructural projects would have a negative impact on the demand for surveillance cameras in the near term.
According to Akash Sharma, Senior Research Analyst, Research and Consulting, 6Wresearch, “Amongst components, CCTV cameras captured the highest volume share in the overall India video surveillance market in 2019. Between camera types, IP surveillance cameras are anticipated to witness significant growth over the coming years owing to certain advanced features such as better video quality, higher resolutions, and several other intelligent and analytical advancements offered by IP surveillance solutions.”
According to Sarthak Bansal, Research Analyst, Research and Consulting, 6Wresearch, “By regions, the northern region is expected to acquire the maximum revenue share in the video surveillance market during the forecast period owing to projects such as New Greater Delhi Airport, 15 upcoming medical colleges in Uttar Pradesh and Haryana Orbital Rail Corridor Project in the northern region of India.”
Some of the major companies in the India Video Surveillance market include CP Plus, Hikvision, Dahua, and Bosch.
"India Video Surveillance market (2020-2026)" provides an in-depth analysis with 81 figures and 3 tables covered in 119 pages. The report estimates and forecasts the overall India video surveillance market by components, verticals, and regions. The report provides an unbiased and detailed analysis of the India video surveillance market on-going trends, outlook, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.