In a chat with VARINDIA, Sanjeev Gulati, Country Manager – India & SAARC, Vivotek, speaks about the surveillance market landscape, opportunities in the Indian market, strategy and future of the industry
The surveillance market in India is slowly and gradually transforming and advancing towards the next phase of growth. A major shift from analog to digital technology is being observed in the industry. Moreover, increase in the unsocial activities, various government initiatives along with growing awareness among the population are opening wide scopes for the surveillance companies in the Indian market.
Surveillance Market Factors like increasing IP infrastructure, reduction in price and demand for remote access have triggered the shift from traditional analog-based surveillance system to IP-based surveillance in the market. It is expected that IP-based surveillance will grow with higher CAGR than video surveillance.
“The Indian surveillance market is about to set foot in its next phase of growth and transformation. Superseding the yesteryears’ ubiquitous analog-based surveillance systems, the IP surveillance is expected to increase due to increasing IP infrastructure, declining prices and demand for remote access. While the Video surveillance market is expected to grow at a CAGR of 32.49%, the IP-based surveillance systems are expected to grow with relatively higher CAGR of 41.78% in the coming years,†comments Sanjeev Gulati, Country Manager – India & SAARC, Vivotek.
Though the IP-based surveillance market is on the rise, there are factors hindering the growth. “One of the major challenges that we feel plagues the Indian surveillance market is the absence of a standard agency to certify the products, followed by poor infrastructure in terms of network connectivity and bandwidth. Adding to the strain are the cumbersome procedures along with consumers betting big on price rather than the quality and features of the product. Apart from these major challenges, their geographical challenges such as extreme weather conditions, geographical spread, storage requirements, etc. Moreover, with a major chunk of the country falling in the rural category limits the requirements of such security solutions owing to the lack of better infrastructure and an understanding towards security concerns,†adds Sanjeev.
Opportunities The Indian surveillance market has ample scope of opportunity with the new government initiatives, increase in crimes, remote monitoring, etc. “At the onset of various government initiatives, those have lots to do with Information Technology – for instance, the Smart City projects and Digital India campaign. India is certainly becoming the nucleus of hackers in the world. Over and above that, spiteful and brutal activities carried out by extremists across the globe, increasing crime rates, data thefts, remote monitoring, growth of public infrastructure, increasing IT spending, government initiatives and increasing security spending poses massive opportunity for the surveillance sector in India,†opines Sanjeev.
Gulati further mentions, “India is on its way to developing 100 ‘Smart Cities’ and with that, security becomes an important aspect to sustain the concept and make it a success. More so because the smart city model will operate on digitized model for information assembly, its storage and distribution. Information system and allied services will be used for communication between surveillance systems, transport sectors, control centres and service providers for providing traffic management, building management, security services etc. Therefore the surveillance solutions are inevitable and imperative to build a foolproof and all-inclusive smart city.â€
Strategy With the array of security solutions, Vivotek is looking forward to transform the Indian security landscape. “We are pioneers in the network camera domain with IT surveillance at the core of our business. Standing tall on these differentiators, we intend to transform the Indian security ecosystem. We have a myriad of security solutions such as products for city surveillance, transportation, toll, banking, retail, hospitality, etc. Furthermore, we also intend to enhance the traffic situation of the country with our various traffic solutions like red light violation, etc which could be of immense help to the pedestrians. It could also help in revenue generation through e-chalan system for traffic police†he adds.
Future of Surveillance Market Vivotek sees an promising future of the surveillance industry with rising security awareness among people, rapid growth in urban population, increasing GDP, etc. These factors will work in favour of the surveillance industry to take to the next level.
“The Indian surveillance market is poised for higher growth in India. The segment has also recorded rapid developments in the past few years bolstered by the increasing incidents of burglary, surging security awareness and technology advances. The non-residential electronic security market in India witnessed fluctuating contributions in terms of revenue. Nevertheless, the future of the Indian electronic security market is expected to be favourable on account of rapidly-growing urban population, improved residential, commercial and industrial construction and rising GDP of India. The rising awareness about benefits of the electronic security equipment amongst the Tier-I, Tier-II and Tier-III cities of the country will encourage players in the electronic security market to expand their centers across the potential markets in India,†concludes Sanjeev.
Aparna Mullick aparna@varindia.com
