The Indian Surveillance Market Is Expected To Reach Us$ 2.4 Billion By 2020

The rise of global terrorism and other crimes has strengthened the Indian IP surveillance market. The government has also undertaken various initiatives to install surveillance cameras in important public places. Reports claim that over two million surveillance products were sold in 2017. Experts also claim that the domestic IP surveillance market is growing at a rate of 20-25 per cent, yearly. At the end of FY 2017, the Indian surveillance market was valued at around 82 billion; it reached 110 billion in FY2018 and is expected to touch 200 billion in FY2020.

Electronic Bazaar’s correspondent, Nijhum Rudra, speaks with Abhishek Kumar, regional director, South Asia, Oncam, about the current IP surveillance market in India, the trends, and how this sector could be a game changer in the electronics industry.

EB: What are your views on the Indian security market? In this context, how are IP surveillance products gaining market share?

India is experiencing unprecedented digitisation across all industries. This has increased the need for surveillance and security products within the country. Given this, the segment has witnessed a phenomenal growth rate of 27 per cent over the past couple of years and is expected to reach US$ 2.4 billion by 2020.

As far as IP surveillance products are concerned, they are the only way forward for us. Analogue security devices are much like a video feed that can only be broadcast or recorded. The data generated by the analogue format cannot be tapped any further. However, the IP surveillance feed can be leveraged for additional insights using wide-ranging digital technologies. Leveraging video analytics and machine learning, we can easily alert security personnel or the relevant authorities as soon as an incident occurs and is recorded. These are some of the factors that give IP surveillance products a considerable edge over traditional analogue devices.

EB: Can you describe the various challenges the Indian electronics industry is facing? Do you think the recent NPE 2019 will be a game changer for the surveillance product market?