India video analytics market is estimated to grow considerably at a CAGR of around 28.0% during the forecast period. Video analytics is expected to play a vital role in the near future to enhance security solutions, operations, and management in India. Security operations will become more pro-active and response will be more robust by incorporating the right video analytics features. The growing rate of crimes, increasing IT spending, remote monitoring, growth of public infrastructure, government initiatives and increasing security spending are boosting the market for video analytics in the Indian market. Video analytics is an essential part of the video surveillance system and works on IP Camera. Video analytics are offered as built-in applications on IP Cameras which will become a standard offering in the near future.
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In India, high-definition network cameras are cheaper and more abundant in recent years. The public sector is adopting video analytics, especially urban security & traffic management and some sections of defense. Cloud-based solutions are also increasing due to which organizations are adopting video analytics across this region. With the emergence of network video and remote monitoring devices and the advent of advanced applications in security products, surveillance is also contributing to the growth of the market in this region. Growth of IP CCTV Security applications with embedded video analytics is getting more mobile based so that the user can have control over his/her security from anywhere. Wearable camera footage is also expected to play an important role in facial recognition and people tracking across this region. The technological barriers to real-time video streaming analysis are decreasing.
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The companies which are contributing to the growth of the India video analytics market include Bosch Security Systems, Inc., Canon Inc., IBM Corp., Cisco Systems, Inc., and Hitachi Vantara LLC. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
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India Video Analytics Market- Segmentation
by Deployment Type
• Banking, Financial Services, and Insurance (BFSI)
• Government & Defense
• Traffic Management
• Others (Surveillance)
• Aventura Technologies, Inc.
• Bosch Security Systems, Inc.
• Canon Inc.
• Cisco Systems, Inc.
• Hanwha Techwin
• Hitachi Vantara LLC
• Honeywell International Inc.
• IBM Corp.
• iCetana Pty Ltd
• IntelliVision (Nortek Security & Control LLC)
• Sony Corp.
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