India video surveillance camera market shipments grew 55% yoy

India video surveillance camera (VSC) market shipments reached 1.04 million units for CY 3Q 2014, recording a substantial YOY growth of around 55 percent over CY 3Q 2013. The market, however, declined around 16 percent over CY 2Q 2014. According to 6Wresearch, rising transportation infrastructure, increasing public surveillance, government security spending, growing IT spending across major applications, and surging crime rates have fueled the demand for video surveillance systems in India.

Video Surveillance Camera (VSC) market, which is dominated by analog surveillance camera, is witnessing a shift towards IP surveillance cameras on account of declining prices and demand for remote access, the research firm stated. Some of the major players in the India VSC market are Hikvision, CP Plus, Dahua Security, Securus, Secure-Eye and Maximus. As many as 140 vendors shipped VSC devices and three vendors shipped above 50,000 VSC devices. Hikvision and CP Plus captured more than 35 percent share of the market.

According to Anuj Mehrotra, research analyst, 6Wresearch-India Electronics Division, “Over the past decade, India Video Surveillance Camera market has witnessed various technological advancements such as remote monitoring, cloud storage and integrated video analytics. Further, the surveillance cameras which are available today are far cost effective, technologically sound and more user friendly.”

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