Industry executives noted a significant shift towards IP cameras and IoT integration in video surveillance systems, especially in high-risk environment
The Indian security market is poised for significant expansion, with biometrics and surveillance emerging as key segments, according to industry officials. They stress that robust government regulations are essential to ensure the highest quality standards and national security.
“The surveillance market in India is projected to grow at a CAGR of over 16% this decade, driven by the rapid evolution of technologies introduced year over year,” said Bijoy Alaylo, Vice President of TP-Link Consumer, at the Security and Fire Expo organized by Informa Markets in India. He added, “With the advent of AI in surveillance technology, the potential applications are boundless. However, as more players enter the market and local manufacturing becomes more accessible, government regulation is crucial to maintain quality standards and ensure national security.”
Alaylo highlighted that the Indian surveillance market is currently valued at approximately $4.3 billion, with projections indicating it will exceed $15 billion by 2029.
Industry executives noted a significant shift towards IP cameras and IoT integration in video surveillance systems, especially in high-risk environments. This trend is expected to propel the market from $2.6 billion in 2024 to $7.4 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14%.
Ashish P. Dhakan, MD & CEO of Prama Hikvision India Private Ltd., emphasized the growth opportunities in the Indian security market. “As we embrace technological innovation and adapt to evolving societal needs, we are witnessing the convergence of advanced technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and big data,” he said.
Yogesh Mudras, Managing Director of Informa Markets in India, remarked on the rapid advancements in smart surveillance technologies in India. “AI adoption is projected to grow at a 40% CAGR from 2020 to 2025, driving the market to an expected $8 billion by 2025,” he stated. “AI enhances biometric security, threat detection, behavior analysis, and anomaly detection, which are crucial for crime prevention by identifying and addressing suspicious activities.”
Industry officials also pointed to rapid infrastructural development and sector-specific reforms in education, BFSI (banking, financial services, and insurance), and SMEs (small and medium-sized enterprises) as key drivers for the widespread adoption of digital surveillance technologies. Growing awareness of the benefits of these technologies is also contributing to their increasing deployment.
