Video Surveillance Systems Market Size was valued at USD 2.2 Billion in 2023. The Video Surveillance Systems market industry is projected to grow from USD 2.6 Billion in 2024 to USD 7.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.00% during the forecast period (2024 - 2032). The increasing demand for safety in high-risk zones, the transition from analog surveillance to IP cameras, and the integration of the Internet of Things are the main market drivers anticipated to propel the Video Surveillance Systems market in India.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing demand for enhanced security measures in response to escalating incidents of terrorism and rising crime rates has spurred individuals, organizations, and authorities to develop more effective strategies. As per the police commissioner of Delhi, in February 2022, the state witnessed a surge in reported crime cases, reaching 3,06,389 compared to 2,66,070 cases the previous year. Notably, heinous crimes in the capital saw a nearly 13% increase in the first half of 2022, totaling 3,140 cases compared to 2,790 in the same period last year. In the current security landscape, Video Surveillance Systems have emerged as a vital tool to safeguard both personal and public welfare, propelling the market CAGR.
The government sector's increasing adoption of advanced surveillance technologies has prompted manufacturers to recognize the necessity for optimal IP surveillance systems. IP camera CCTV systems offer numerous advantages over analog formats, as acknowledged by the Indian Railways. The Ministry of Railways has deployed IP-based Video Surveillance Systems (VSS) at railway stations to enhance safety measures, with plans to extend this initiative to 756 stations under the Nirbhaya Fund. Across India, state governments are progressively integrating Video Surveillance Systems solutions to bolster security and safety measures. For instance, the Telangana government is prioritizing street surveillance to enhance safety in Hyderabad. In August 2022, the Greater Hyderabad Municipal Corporation (GHMC) greenlit a proposal to install 8,000 CCTV cameras across parks and slum areas in the city. The initiative aims to cover 975 parks and 311 unnotified slums, with GHMC officials aiming to finalize the project by year-end at an estimated cost of INR 20 crore. Thus driving the Video Surveillance Systems market revenue.
The India Video Surveillance Systems market segmentation, based on Type, includes Hardware (Camera (Analog, IP Cameras, Hybrid), Storage), Software (Video Analytics, Video Management Software), and Services. The hardware segment dominated the market mostly. Surveillance cameras represent the costliest hardware element within a Video Surveillance Systems setup, often outnumbering other components. For instance, a system might incorporate 10 IP cameras linked to a single network video recorder (NVR). The yearly decline in surveillance camera prices has led to heightened global adoption, consequently driving substantial demand for storage solutions. This increased demand for storage devices can be directly linked to the growing prevalence of IP cameras. These cameras capture footage at higher resolutions and frame rates, with some also capable of recording audio concurrently with video.
The India Video Surveillance Systems market segmentation, based on End-User, includes Commercial, Infrastructure, Institutional, Industrial, Defense, and Residential. The commercial category generated the most income. These applications encompass various sectors: retail environments utilize surveillance for theft prevention and analyzing customer behavior; data centers and enterprises employ it to protect critical infrastructure; banking and finance buildings utilize it for crime prevention and fraud detection; and hospitality establishments and warehouses use it to enhance guest safety, monitor staff, and bolster security. For example, in August 2023, VIVOTEK, a renowned Taiwanese manufacturer of Video Surveillance Systems products, introduced a comprehensive solution for a prominent logistics center in Japan. This solution included the deployment of 105 FE9380-HV 360-degree cameras and 14 IB9368-HT bullet network cameras within the warehouses. These cameras offer panoramic views, eliminating blind spots and aiding the logistics company in enhancing both efficiency and security within their warehouses.
Figure 1: India Video Surveillance Systems Market, by End-User, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
There is a significant demand for safe city initiatives across India aimed at enhancing public safety. Following the successful implementation of surveillance and smart city projects in numerous Indian urban centers, there is anticipation that more regions will adopt similar video surveillance systems. These systems often feature centralized control rooms equipped with high-end, large video wall solutions to facilitate meticulous monitoring. The evolution of technologies such as video analytics, biometrics, face recognition, and CCTV plays a crucial role in city surveillance and analysis. This growing demand presents substantial opportunities for U.S. companies. India has increasingly embraced facial recognition systems in surveillance, with 126 FRT systems deployed nationwide as of June 2023, amounting to a spending of INR 1,499.41 crores. Notably, one of the largest biometric smart city initiatives in India was witnessed in Gurugram, where 1200 CCTV cameras equipped with FRT-enabled AI were installed across 200 locations in collaboration with the Haryana Police. The primary objectives of this deployment included detecting traffic violations such as signal skipping and overspeeding, identifying vehicles with faulty or prohibited number plates, and identifying potential crime suspects. According to the Economic Times, approximately 1.54 million cameras are distributed across India's top 15 cities, with New Delhi (551,500), Hyderabad (375,000), Chennai (280,000), and Indore (200,600) boasting the highest surveillance camera counts in the country.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Video Surveillance Systems market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Video Surveillance Systems industry must offer cost-effective items.
Major players in the Video Surveillance Systems market are attempting to increase market demand by investing in research and development operations includes Axis Communications, Bosch Security Systems Incorporated, Honeywell Security Group (Honeywell International Inc.), Samsung Group, Panasonic Corporation, FLIR Systems Inc, Schneider Electric SE, Qognify Inc. (Battery Ventures), Infinova Corporation, Zhejiang Dahua Technology Company Limited, Hangzhou Hikvision Digital Technology Company Limited, Sony Corporation.
Axis Communications
Bosch Security Systems Incorporated
Honeywell Security Group (Honeywell International Inc.)
Panasonic Corporation
FLIR Systems Inc
Schneider Electric SE
Qognify Inc. (Battery Ventures)
Infinova Corporation
Zhejiang Dahua Technology Company Limited
Hangzhou Hikvision Digital Technology Company Limited
Sony Corporation
August 2022: Hanwha Techwin, a leading global provider of intelligent Video Surveillance Systems solutions, introduced a significantly enhanced version of its WisenetWAVE Video Management Software (VMS) to cater to the evolving requirements of security professionals and system integrators. Version 5.0 of the software amplifies its focus on cybersecurity, system usability, convenience, and interactivity. Notable features include advanced object search, metadata-driven active backup, webpage proxy via servers, two-factor authentication (2FA), resource grouping, and audio mapping.
June 2022: Dahua Technology unveiled its full-color smart dual illuminators camera series during its 2022 full-color online launch event. This latest series integrates two illuminators—warm light and infrared light—along with three supplementary light modes to deliver clear and vivid full-color images. This innovative design aims to minimize the continuous usage of warm light, offering a flexible solution for various night and low-light monitoring scenarios.
Hardware
Camera (Analog, IP Cameras, Hybrid)
Storage
Software
Video Analytics
Video Management Software
Services
Commercial
Infrastructure
Institutional
Industrial
Defense
Residential
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 2.2 Billion |
| Market Size 2024 | USD 2.6 Billion |
| Market Size 2032 | USD 7.4 Billion |
| Compound Annual Growth Rate (CAGR) | 14.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User, and Region |
| Countries Covered | India |
| Key Companies Profiled | Axis Communications, Bosch Security Systems Incorporated, Honeywell Security Group (Honeywell International Inc.), Samsung Group, Panasonic Corporation, FLIR Systems Inc, Schneider Electric SE, Qognify Inc. (Battery Ventures), Infinova Corporation, Zhejiang Dahua Technology Company Limited, Hangzhou Hikvision Digital Technology Company Limited, Sony Corporation |
| Key Market Opportunities | The increase in the trend toward the development of smart cities Increase in the adoption of spy and hidden cameras |
| Key Market Dynamics | The increasing adoption of advanced surveillance by the government sector, manufacturers Increasing incidents of theft, domestic crime, and acts of terrorism |
Frequently Asked Questions (FAQ) :
The India Video Surveillance Systems market size was valued at USD 2.2 Billion in 2023.
The market is projected to grow at a CAGR of 14.00% during the forecast period, 2024-2032.
The key players in the market are Axis Communications, Bosch Security Systems Incorporated, Honeywell Security Group (Honeywell International Inc.), Samsung Group, Panasonic Corporation, FLIR Systems Inc, Schneider Electric SE, Qognify Inc. (Battery Ventures), Infinova Corporation, Zhejiang Dahua Technology Company Limited, Hangzhou Hikvision Digital Technology Company Limited, Sony Corporation.
The Hardware category dominated the market in 2023.
The Commercial category had the largest share of the market.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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