The security and surveillance industry has been growing rapidly in India, with technology playing a major role in enhancing security and surveillance capabilities. According to a report by Entrepreneur India, the surveillance industry in India has grown beyond $841 million in terms of market size and is experiencing a phenomenal 27.16 percent CAGR (Compounded Annual Growth Rate). Here are some of the factors driving the growth of the security and surveillance industry in India:
- Innovations in surveillance, security, and network offerings: Recent innovations in surveillance, security, and network offerings have gradually reduced costs of specialized products and increased their overall effectiveness. In addition, such advancements have also minimized the cost of deployment of surveillance infrastructure within a premises.
- Digitization and IP-driven surveillance systems: The ongoing digitization and the ever-increasing deployment of IP-driven surveillance systems are further catalyzing the market growth and are expected to make it nearly triple its current market size to $2.4 billion by 2020.
- 360-degree view technology: This technology allows for a wider field of view, which is especially useful in large areas such as airports, shopping malls, and stadiums. The conventional analog-based PTZ cameras have limited field of view, or the area that a particular device can effectively monitor. This technology provides a more comprehensive view of the area under surveillance.
- Cloud-based surveillance: Cloud-based surveillance systems offer several advantages over traditional surveillance systems, including remote access, scalability, and cost-effectiveness. With cloud-based surveillance, users can access their surveillance footage from anywhere in the world, as long as they have an internet connection .
- Artificial Intelligence (AI) and Machine Learning (ML) for surveillance: AI and ML technologies are being applied to detect potential threats, such as intrusion, unusual behavior, locating suspicious objects, or unauthorized access in surveillance footage.
- Privacy-enhancing technologies: With increasing concerns about privacy, there is a growing need for security surveillance system technologies that respect individual privacy. Privacy-enhancing technologies can be used to protect the privacy of individuals while still allowing for effective surveillance.
- Facial recognition technology: Facial recognition technology is being used to identify individuals in real-time, which can be useful in a variety of settings, including airports, border crossings, and other high-security areas. However, there are concerns about the accuracy of facial recognition technology, as well as its potential impact on privacy.
- Increased installation of surveillance cameras: The growing number of surveillance cameras installed in public places, such as airports, railway stations, and shopping malls, is also driving the growth of the security and surveillance industry in India.
In conclusion, the security and surveillance industry in India is rapidly evolving, with technology playing a major role in enhancing security and surveillance capabilities. Innovations in surveillance, security, and network offerings, digitization and IP-driven surveillance systems, 360-degree view technology, cloud-based surveillance, AI and ML for surveillance, privacy-enhancing technologies, facial recognition technology, and increased installation of surveillance cameras are some of the factors driving the growth of the industry