India CCTV Camera Market Size Almost Triples at CAGR of 17% to Touch USD 13.1 Billion by 2029

Published | 03 October 2023

India CCTV camera market is flourishing because of an increasing need for surveillance and security across various institutions, establishments, and organizations, and the expansion of smart cities.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India CCTV camera market size at USD 4.38 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India CCTV camera market size to grow at a robust CAGR of 16.9% reaching a value of USD 13.08 billion by 2029. Major growth drivers for the India CCTV camera market include the growing concerns about security and crime rates and increasing urbanization and the increasing need for monitoring public spaces. The recognition of the significance of CCTV cameras is increasing due to the growing focus on the prevention and management of persistently high crime rates across the nation. According to the Delhi City Police Commissioner, in February 2022, the state recorded 3,06,389 instances of criminal activity, which marked an increase from the previous year's figure of 2,66,070 cases. Notably, the national capital observed a nearly 13% surge in severe criminal cases during the initial six months of 2022 when compared to the previous year. Until July 2022, it documented 3,140 severe criminal cases, as opposed to the 2,790 cases reported in the corresponding period of the prior year. Also, rapid urbanization and government initiatives promoting surveillance systems, coupled with ongoing technological advancements such as AI and analytics integration, further fuel the demand for CCTV cameras. This market extends beyond cameras to encompass a comprehensive infrastructure, including video management systems, network video recorders, storage solutions, video analytics software, and related accessories, all contributing to the rapid growth of India's CCTV camera market. However, limited customer awareness regarding to specific usage of surveillance cameras and high cost associated with video surveillance camera are anticipated to restrain the overall market growth during the forecast period.

India CCTV Camera Market – Overview

India CCTV camera Market encompasses the production, distribution, and installation of Closed-Circuit Television (CCTV) cameras and surveillance equipment. It involves manufacturers, distributors, system integrators, and end-users. This dynamic market is driven by technological innovations, including high-definition cameras and AI integration, addressing security concerns in various settings. Market trends reveal a shift towards IP-based cameras and smart surveillance systems. Competition is fierce, featuring both domestic and international brands. The primary aim is to enhance security, monitor public spaces, and safeguard property. With urbanization and growing security needs, this market continues to thrive as a vital component of safety in India. Also, the government has implemented several measures to boost domestic manufacturing and exports in the electronics sector, which includes the production of CCTV cameras. These initiatives include the Production Linked Incentive Scheme (PLI) for electronics manufacturing, allowing FDI up to 100% under the automatic route, subject to applicable laws. This supportive regulatory environment is expected to foster growth in the India CCTV Camera Market, encouraging both local production and foreign investments in the industry. As a result, the CCTV camera market is well-positioned to benefit from these favorable conditions, contributing to the overall expansion of the electronics and surveillance sectors in the country.

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Impact of COVID-19 on India CCTV Camera Market

COVID-19 pandemic had a mixed impact on the India CCTV camera market. Initially, it led to disruptions in the supply chain due to lockdowns and restrictions. However, as businesses and individuals prioritized safety and security, there was an increased demand for CCTV cameras for monitoring compliance with health protocols and remote surveillance. This shift in focus, along with the growing need for contactless solutions, bolstered the market. Additionally, the pandemic accelerated the adoption of cloud-based and AI-driven surveillance systems, reflecting a long-term trend. Overall, the India CCTV Camera Market experienced challenges but also found opportunities in adapting to the changing landscape brought about by the pandemic.

India CCTV Camera Market – By Technology

Based on technology, the India CCTV camera market is divided into Analog-based, IP-based (Internet Protocol-based), and AI (Artificial Intelligence)-based segments. The IP-based segment holds the highest share in the India CCTV camera market by technology. The swift shift from analog to IP cameras has transformed the landscape of video surveillance solutions, ushering in a new era of sharper, high-definition digital imagery and cutting-edge advancements in video analytics and neural networks. IP cameras transmit purely digital signals, delivering enhanced video clarity, which is particularly valuable for tasks like facial recognition and license plate identification. Also, increased production has driven down prices, making these cameras more accessible. The integration of software solutions into video surveillance has enabled functionalities such as object detection, package tracking, and path monitoring. The manufacturing industry is experiencing robust global growth, driven by the surge in newly constructed and renovated manufacturing facilities. This expansion has heightened the demand for IP cameras to ensure comprehensive security in and around these manufacturing premises. With the widespread availability of internet connectivity, manufacturing plants have transitioned from analog to IP cameras, aligning with the industry's evolving security needs.

Competitive Landscape

Major players operating in the India CCTV camera market include HIKVISION Digital Technology Co, Ltd., Honeywell Commercial Security, Videocon Industries Limited, Zicom Electronic Security Systems, Dahua Technology India Pvt Ltd, D-Link India Limited, Godrej Security Solution, Axis Video Systems India Pvt Ltd, Bosch Security Systems India, and Electronic Eye Systems. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India CCTV Camera Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India CCTV Camera Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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