The market for video surveillance in India is projected to reach $2.4 billion by 2020, according to a report.

In India’s video surveillance market, analog video surveillance market has captured major share of the pie due to low cost and ease of installation, said a 6Wreasearch’s  ‘India Video Surveillance Market (2014–2020)’ report.

Over the next six years, the market for IP surveillance is expected to increase due to increasing IP infrastructure and demand for remote access.

The video surveillance market in India has increased tremendously in the recent years due to rising concern for security and safety.

Growing usage of video surveillance systems in various sectors such as hospitality, banking and financial, government and transportation, education, and retail has created huge growth opportunities for the manufacturers, distributors and system integrators in this industry.

Over the past few years, the Government of India has been heavily investing to secure the cities and monitor public movements.

Rising infrastructure, government initiatives & funding, rules & regulations, increasing terrorist and criminal activities are the few factors that have spurred the market for video surveillance in India.

Video surveillance software market is also another growing segment, where video management software leads the market share; although, higher growth of video analytics software is anticipated in the forecast period.

Amongst all verticals, government and transportation vertical has generated majority of the market revenues owing to increasing government spending and rising public infrastructure.

On the other hand, commercial vertical is emerging as key growing vertical due to increasing penetration of video surveillance systems in hospitality, education, SME and large enterprises.

The key players in the market include CP-Plus, Hikvision, Dahua, Bosch, Honeywell, Pelco, Axis Communication, Genetec, and Milestone.

The report provided in-depth analysis with 62 figures and 26 tables. It estimated and forecast overall India Video Surveillance market by analog surveillance, IP surveillance and software (video management software, video analytical software and others).

The market by verticals such as government and transportation, banking and financial, retail, industrial, commercial and residential and regions such as North India, South India, East India, West India and Central India.

The report also gave the insights on competitive landscape, market share by companies, company profiles, market trends, market drivers and restraints. - TradeArabia News Service