Indian CCTV market grows at 27 %CAGR

Research and Market has announced the addition of the “India CCTV Camera Market Outlook, 2021” report to their offering. According to India CCTV Camera Market Outlook, 2021, the India CCTV Camera market is expected to grow with a CAGR of about 27.16% in the period from 2016 to 2021. Technology wise non-IP dominates the Indian market but in the coming years IP is expected to take the lead. Non -IP technology constitutes analog and HD CCTV cameras. Analog is technology which is in a depleting stage and its share is expected to be taken by the IP technology and the HD type CCTV camera.

Dome type cameras are the most widely used cameras in any sectors. Commercial segment is the driver of the CCTV market in India with the increasing count of SOHO’s and SME’s. With the increasing security concerns, residential sector would also be one of the factors for the increasing market.

As criminal activities are more in the northern region of India, North dominates the market in terms of revenue. According to the technology, different players are present in the market. In the non-IP segment the market consists of players like CP Plus, Dahua and Prama Hikvision, constituting to more than 70% of the market.
Whereas in the case of IP segment, market consists of Axis Communication, Bosch, Panasonic, Honeywell, etc. The widespread use of CCTV camera in various sectors like government, SOHO’s and SME’s, Banking, Hospitality and other commercial establishments will make the CCTV camera market increase with a robust growth.