Shift to IP Technologies and Rise of VSaaS Boosts India’s Video Surveillance Market
Business Wire IndiaIncreased economic activities, higher urbanization rates, residential and commercial infrastructure modernization, and rising crime are factors driving the need for video surveillance in India. A shift from analog to IP technologies, cloud solutions for storage, and rise of video surveillance-as-a-service (VSaaS) present new, untapped opportunities for security solution providers.
Frost & Sullivan’s “Indian Video Surveillance & VSaaS Market, 2017”, analyses expected product growth rates, trends, technologies, emerging drivers, restraints challenges, and top players such as CP Plus, Hikvision, Dahua, Panasonic, Bosch, Samsung Techwin, Axis and Pelco in the dynamic surveillance market in India. Along with exploring the sub-segments of the video surveillance and VSaaS market in detail, the insight also focuses heavily on the trends, directions and high growth segments for future. It emphasizes on the dimensions necessary to make informed decisions for growth in the surveillance market.
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“In the next few years, western parts of India such as Maharashtra and Gujarat are expected to witness double-digit growth rates for video surveillance in verticals like retail, business, and financial services,” said Manu Tiwari, Program Manager, Measurement & Instrumentation Practice, Frost & Sullivan. “While north India’s planned National Investment and Manufacturing Zones (NIMZ) corridors and freight corridors are driving strong revenue base anticipation from Government and manufacturing verticals, South India is ensured a healthy demand for video surveillance due to a booming service sector and large manufacturing companies. With not many enterprises based in the East, the growth is expected to be over a small base, hence, is relatively low.”
To succeed in an evolving ecosystem, service providers should:
- Provide flexibility in deployment models;
- Offer a wide range of options such as live-only (real-time viewing) camera storage, on-premise storage, and cloud-based storage;
- Ensure redundancy in the service to minimize downtime;
- Provide a minimum of 15-20% cost savings to customers who invest in VSaaS; and
- Enter into partnerships for market penetration.
“Currently, video surveillance is an under-penetrated market in India,” observed Tiwari. “To augment adoption, there is an urgent need to educate customers about security, surveillance, and analytics associated benefits to businesses.”