The rapid economic growth and rising industrial activities amid security threats, fear of potential terrorist attacks has fuelled the demand for closed circuit TV cameras, says a study by the Associated Chambers of Commerce and Industry of India (Assocham).
With Government authorities and even private sector players in industries such as hospitality, healthcare, transport and retail, investing huge amounts in installing CCTVs to secure their offices and public places across the country, the demand for video surveillance systems and CCTV camera market in India is likely to reach Rs 2,200 crore by 2015, says the industry body.
According to the study titled — ‘Indian CCTV/Video Surveillance Market: The way Ahead' — the Indian CCTV camera market is currently pegged at Rs 1,000 crore and accounts for over 40 per cent of the Rs 2,400 crore-worth total electronic security market in India.
A press release from the chamber says the global CCTV market is growing 25 per cent at Rs 80,000 crore and is likely to cross the Rs 1.5 lakh-crore mark by 2015. Of this, Asia accounts for nearly 35 per cent with a share of over Rs 27,000 crore.
Quoting Mr D.S. Rawat, Secretary-General, Assocham, the release says, “Tier II and Tier III cities, currently having a small proportion of security system installations, are going to emerge as the real growth drivers of this technology driven industry in the long-run.”
Bosch, Reliance-Siemens, GE, Honeywell, Samsung, Sharp, Vicon, Cisco, D-Link, Sony, Axis, Verint and Zicom are some of the leading companies involved in manufacturing security system equipment.
