Growing at a compound annual growth rate (CAGR) of approximately 30%, the Indian closed circuit television (CCTV) market has been forecast to reach Rs 2,200 crore by 2015.
India's CCTV market is currently poised at about Rs 1,000 crore and accounts for over 40% of the Rs 2,400 crore worth total electronic security market in India.
Rapid economic growth and rising industrial activities amid security threats, fear of potential terrorist attacks has fuelled the demand for CCTV cameras evidently as government authorities and even private sector are investing huge amount of money in installing CCTVs to secure their offices and public places across the country
The Indian CCTV market is witnessing immense growth from sectors such as city surveillance, hospitality, airport security, BFSI, retail, BPO, manufacturing, college campuses, infrastructure companies and education.
The government, in general, is the biggest segment in terms of volume demand. The private sector, enterprises as well as SMBs, shows potential although their demand is dwarfed by that of the government sector.
Following the December 16 Delhi gang-rape, the demand for CCTV and surveillance cameras is growing in the city.
The demand has risen by 10% in the past month and that is across sectors. The demand for security systems always rises post crime as people wake up when the crime has already taken place in their house or the neighbour's house.
The need for safety and security in almost every walk of life has fuelled an overwhelming demand for CCTV cameras and more so after the Munirka gang-rape incident as hostels, paying guest accommodations, hotels, etc. are installing surveillance gadgets to keep a check on the movements of both the inhabitants and stalkers.
The Indian CCTV industry is going to emerge as a huge market in the next few years in wake of rising demands from sectors like hospitality industry, services, healthcare, retail and transportation.
The ease to inter-connect all monitoring systems, traffic systems, various market places with police stations and defence headquarters in the real time make the CCTV surveillance a prominent and feasible security solution.
For more information on the Indian CCTV market, see the latest research: Indian CCTV Market
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