The video surveillance market in India is seeing strong growth at the moment, in line with the economic growth of the country. As the socioeconomic situation in the subcontinent continues to change, there is an increasing awareness on the need for robust security solutions and this is boosting the demand.
According to the research firm IHS, the network surveillance camera market in the country is expected to reach $194.7 million by 2020. Other reports suggest growth of security devices to be about 18 percent in the next five years. Experts who comment on the markets agree with the projections.
Which security verticals are growing strong in India?
In a recent interview with asmag, Sudhindra Holla, Sales Director for India & SAARC at Axis Communications, said that his company sees a major opportunity for IP cameras, continuing along a shift towards digital technology seen over the past five years.
He listed the following segments as seeing the strongest demand:
The central and state governments are increasingly implementing security solutions in their projects to ensure public safety. The one major advantage of this sector is that governments are not restrained by budgetary concerns. However, political reasons could delay projects.
Border security concerns and issues like terrorism remain a major problem in the country that the government needs to address on a daily basis. To this end, authorities are keen to make use of the latest security technology. As with public projects, defence projects are also not limited by budgets and the top premium brands have a strong chance here.
Infrastructure in Indian cities is growing at a rapid pace. New roads and metro lines are being introduced almost every year. This has increased the demand for security solutions in the transportation sector.
The retail sector in India is growing, not just with more foreign brands coming in, but also several startups that are concentrating on the sector. Malls and shopping centres are on the rise, and most of them are particular about security.
- Banking & Financial
More of a traditionally strong vertical, the banking sector has seen an interest in adopting new technologies. While surveillance cameras have become a norm in bank branches and ATMs, the sector could see the use of more innovative solutions in the coming years.
- Critical Infrastructure
In simple terms, critical infrastructure defines assets that are critical to the normal functioning of the society. This includes the likes of power plants, health systems, food production, and distribution.
- Oil and gas sector
In the recent years, the oil and gas sector in India has seen a strong boost, with private players becoming increasingly involved and the government looking to boost the vertical through partnerships and tie-ups. Given the high-value of assets in this sector, the need for security solutions is obvious.
Close on the heels of these sectors are growing verticals like education and residential. Several concerns have recently been raised on the safety of students in schools and this has led to the use of security solutions in this vertical. Residential sites have been one of the slowest to adopt security solutions. But with new apartments rising up in every city and concerns of crime strong, real estate developers are increasingly keen on boosting their brand image with high-end devices.
What security products are in demand in India?
Opinions vary when experts weigh in on the most popular security products in India at the moment. Speaking to asmag, MR Krishnan, Executive Director of the South India-based Adtech Systems pointed out that customers have begun standardizing cameras to 3 Megapixels or more for commercial projects. Unlike earlier days, the importance of major brands in offering quality is also being recognized, despite the fact that they cost more than non-branded equipment.
Access control solutions are also gaining popularity in both the residential and commercial sector. In fact, in major residential projects, relatively strong access control solutions are becoming a norm. Biometrics have not yet reached the subcontinent as an access control technology yet, still remaining limited to time and attendance purposes.
The use of analytic software solutions is also on the rise, especially for purposes such as number plate recognition in commercial properties like malls. As the number of malls in the country continue to rise at a rapid rate, this demand could also see a potential rise.
In the interview with asmag, Holla had mentioned that Axis finds an increasing demand for facial recognition and IP audio. Other experts have also pointed out the rising interest in analytics on the edge, which naturally requires superior quality video footage, further boosting the demand for more pixels in the camera.
Finally, cybersecurity concerns are also rising in India as the recent incidents have created awareness on the vulnerability of surveillance data to hacking. In short, the Indian video surveillance market is widely expected to see a strong growth in the coming years. With more investment coming in, security companies expect the demand to continue to increase.