DUBLIN, Nov. 29, 2023 /PRNewswire/ — The “India Video Surveillance Market | Size, Industry, Share, Trends, Revenue, Analysis, Forecast, Growth, Value, Outlook & COVID-19 IMPACT: Market Forecast By Components,?By Verticals?By Regions?and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
India video surveillance market revenues size is projected to grow with a CAGR of 20.8% during 2023-29F. India is expected to be the third-largest construction market globally after the US and China by 2025.
To reach India 2047’s goal of a $40 trillion GDP and be categorized as a developed nation, infrastructure development is essential. With the increasing FDIs in the construction sector and the rising investments in infrastructural development, the requirement for video surveillance solutions would see a surge over the coming years.
With increasing initiatives being taken by the government to install CCTV solutions in public places like the Smart Cities Mission and the rising security concerns and awareness among people, video surveillance systems would be expected to experience rapid growth in the future.
India video surveillance market is growing at a significant rate over the past few years due to the rising security concerns, primarily arising from increasing incidents of theft, domestic crime, and acts of terrorism.
The government initiatives, such as the smart city mission, installation of video surveillance systems for traffic management, rapid infrastructural growth, and reforms in the education and BFSI vertical coupled with rising awareness among the end-users and businesses in the country about the advantages of video surveillance systems would act as a critical driving force behind the growth of the market in the country during the forecast period.
However, the uncertainties raised due to Covid-19 resulted in an economic slowdown by creating an obstruction in the construction projects along with the contraction in the fund allocated for infrastructural projects would bring a slowdown in demand for video surveillance systems in the near term.
Market by Components
Camera accounted for the highest revenue share in the India video surveillance market owing to the surge in the deployment of CCTV cameras across verticals including commercial enterprises, SMEs, BFSIs, educational institutions, transportation, and other infrastructural segments due to the rising security concerns, primarily arising from increasing incidents of theft, domestic crime and acts of terrorism. The same segment will continue to grow in the country in the years to come with growing residential and commercial areas.
Market by Verticals
Government and Transportation accounted for the largest market share as government oversees public safety and security through video surveillance systems, which deter crime, prevent incidents, and respond effectively. They aid law enforcement, gather evidence, and improve traffic management while enforcing regulations for responsible and ethical use. This segment will continue to propel in the nation.
Market by Regions
The West region of India accounted for the largest market share owing to industrial and commercial centers in Maharashtra and Gujarat. This segment is expected to rise more in the years to come. The demand for these products will also rise from the Northern regions of the country as the region is experiencing large-scale infrastructure development, including smart cities, industrial zones, and commercial hubs.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- India Video Surveillance Market Overview
- India Video Surveillance Market Outlook
- India Video Surveillance Market Forecast
- Historical Data and Forecast of India Video Surveillance Market Revenues for the Period 2019-2029F
- Historical Data and Forecast of India Video Surveillance Market Revenues, By Components, for the Period 2019-2029F
- Historical Data and Forecast of India Video Surveillance Market Revenues, By Verticals, for the Period 2019-2029F
- Historical Data and Forecast of India Video Surveillance Market Revenues, By Regions, for the Period 2019-2029F
- Market Drivers, Restraints
- Market Trends
- Industry Life Cycle
- India Video Surveillance Market – Porter’s Five Forces
- Market Opportunity Assessment
- India Video Surveillance Market Revenue Share, By Companies and Verticals
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Axis Communication Pvt. Ltd.
- Bosch Limited
- CP Plus India Pvt. Ltd.
- Teledyne FLIR LLC
- Prama Hikvision India Pvt. Ltd.
- Hanwha International India Pvt. Ltd.
- Honeywell International (India) Pvt. Ltd.
- Panasonic India Pvt. Ltd.
- Pelco Inc.
- Dahua Technology India Pvt. Ltd.
Market Scope and Segmentation
By Components
- Camera
- Recorder
- Encoder
- Software
By Verticals
- Residential
- Industrial and Manufacturing
- Government
- Retail and Logistics
- BFSI
- Commercial
- Education
- Hospitality & Healthcare
- Transportation
By Regions
- Northern
- Eastern
- Southern
- Western
For more information about this report visit https://www.researchandmarkets.com/r/66drsg
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