Speaking at the Security & Fire Expo organized by Informa Markets in India, Bejoy Alailo, Vice President, TP-Link Consumer, said the surveillance market in the country is projected to grow at a CAGR of over 16 per cent this decade. “By the rapid development of technologies introduced year after year”.
“In India, the surveillance market is currently valued at around $4.3 billion and is estimated to exceed $15 billion by 2029,” he said.
The video surveillance systems market in India is undergoing a significant transformation, with a focus on IP cameras and IoT (Internet of Things) integration in high-risk environments to enhance security.
Industry experts predict that this shift will take the market from $2.6 billion in 2024 to $7.4 billion by 2032 with a CAGR of 14 percent.
According to Ashish P. Dhakan, MD & CEO, Prama Hikvision India, the Indian security market is full of growth opportunities.
“As we embrace technological innovation and adapt to emerging societal needs, we are seeing the convergence of advanced technologies such as AI, IoT and big data,” he said.
Last year, India's smart home security camera shipments grew 48 percent year-on-year (YoY) in the first quarter (Q1), according to Counterpoint Research.
According to the report, there was a big increase in demand for home security products as offices started reopening for working professionals during that time.
“In India, the surveillance market is currently valued at around $4.3 billion and is estimated to exceed $15 billion by 2029,” he said.
The video surveillance systems market in India is undergoing a significant transformation, with a focus on IP cameras and IoT (Internet of Things) integration in high-risk environments to enhance security.
Industry experts predict that this shift will take the market from $2.6 billion in 2024 to $7.4 billion by 2032 with a CAGR of 14 percent.
According to Ashish P. Dhakan, MD & CEO, Prama Hikvision India, the Indian security market is full of growth opportunities.
“As we embrace technological innovation and adapt to emerging societal needs, we are seeing the convergence of advanced technologies such as AI, IoT and big data,” he said.
Last year, India's smart home security camera shipments grew 48 percent year-on-year (YoY) in the first quarter (Q1), according to Counterpoint Research.
According to the report, there was a big increase in demand for home security products as offices started reopening for working professionals during that time.
