India Surveillance Storage Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.40 Billion |
| Market Size (2029) | USD 2.10 Billion |
| CAGR (2024 - 2029) | 9.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Surveillance Storage Market Analysis
The India Surveillance Storage Market size is estimated at USD 1.40 billion in 2024, and is expected to reach USD 2.10 billion by 2029, growing at a CAGR of 9.30% during the forecast period (2024-2029).
- In recent years, India has seen a rising demand for surveillance cameras, driven by growing security concerns and the push for smart city development projects announced by the government. With high crime rates, especially in Tier 1 and Tier 2 cities, CCTV surveillance cameras are becoming increasingly important in India. Some of the key players in this market are Godrej, Panasonic, Hikvision, and Dahua.
- According to a report by the Financial Times, this trend is set to continue. The report underscores that India's "lawful interception monitoring systems" are providing the government with a "backdoor" for citizen surveillance, aligning with the country's expanding surveillance framework. It further details that the government requires telecommunication networks to install hardware that can "search, copy, and transmit data to Indian security agencies on demand," utilizing AI and data analytics.
- Additionally, Indian Railways and other transportation hubs are rolling out IP-based security systems prominently featuring facial recognition. In August 2024, India's rail networks announced plans to outfit train coaches nationwide with AI and facial recognition-enabled CCTV cameras. The Ministry of Railways aims to use face-cropping tools and face-matching servers to monitor and identify individuals to curb crime.
- The initial phase saw camera installations at hundreds of platforms across 230 busy stations in the eastern region in May 2024. The comprehensive plan includes outfitting 38,255 coaches with eight cameras each, 2,744 coaches with five cameras, 2,079 coaches with four cameras, and 960 coaches with six cameras.
- Furthermore, a notable finding reveals that Indian cities have surpassed major cities in China, the United States, and the United Kingdom, such as Shanghai, New York, and London, becoming the leading adopters of surveillance systems. Delhi holds the global record for the highest number of CCTV cameras in public spaces. The Delhi government asserts that India outstrips seven Chinese cities, including Shenzhen, Wuxi, Qingdao, Shanghai, Changsha, Wuhan, and Xiamen, in surveillance capabilities, highlighting significant opportunities and demand for storage solutions.
- Additionally, the rise of domestic manufacturers in India has also been shaping the industry's trajectory. With the growing prospects for surveillance, India is witnessing a surge in investments in surveillance camera production. For example, in June 2024, Sparsh CCTV made headlines with a strategic investment of USD 35.7 million over five years, aiming to leverage the Indian government's 'Made in India' initiative for surveillance equipment.
- As video surveillance production expands in India, the need for robust storage capacity becomes paramount. With AI's increasing significance, there's an increasing demand for video data to train these systems and boost their intelligence. Together, these elements fuel the rising need for advanced and reliable storage solutions.
- However, challenges loom, particularly concerning privacy issues tied to constant monitoring. Furthermore, the market's potential growth is also somewhat hampered by the incompatibility of older systems with modern converged networks.
India Surveillance Storage Market Trends
The SSD Segment is Expected to Hold a Considerable Share in the Market
- As technology advances, security monitoring systems are evolving to become more intelligent, high-definition, and interconnected. The transition from traditional analog systems to digital monitoring is unmistakable, featuring core functions like high-definition image recording, video data analysis, and intelligent identification technology. These enhancements boost accuracy and offer greater convenience in security monitoring.
- In this evolving landscape, the demand for dependable data storage solutions, especially concerning CCTV camera surveillance, is important. Surveillance SSDs are instrumental in ensuring smooth and secure storage of surveillance camera data. These tailored storage solutions enhance the efficacy of security monitoring systems, enabling swift access to high-definition recordings and supporting advanced data analysis.
- In India, medium-sized businesses, small enterprises, and corporations form the spine of the Indian economy. As of March 2024, the Indian government's Udyam registration portal recorded over 39 million micro-enterprises, representing more than 97% of the MSME sector, with small and medium enterprises making up approximately 1.5% and 0.8%, respectively. In total, around 40 million MSMEs were registered on the platform.
Healthcare is Expected to Contribute to High Adoption of Video Surveillance Storage
- The Indian healthcare sector is experiencing significant growth. According to IBEF, in 2023, the sector was valued at approximately USD 372 billion, marking a notable increase from 2020. This sector is one of the country's primary contributors to revenue and employment.
- Despite its expansion, the Indian healthcare industry grapples with numerous challenges. Medical facilities, including hospitals, find it increasingly difficult to safeguard patients, doctors, nurses, staff, and visitors. Risks range from fire and life safety issues to protecting sensitive medical records, high-value clinical equipment, data from research and clinical trials, and inventories of pharmaceuticals and medical supplies.
- According to the DHS Bulletin, since the peak of the COVID-19 pandemic in 2021, threats from violent extremists toward the healthcare and public health sectors have evolved. These threats are expected to persist in the post-pandemic landscape, driven by a rise in medical-related ideological grievances. Recent incidents highlight an "escalation in threats of violence targeting healthcare facilities and personnel," encompassing "hoax bomb threats against hospitals, doxing attempts to incite violence, such as the public release of personal information like addresses and phone numbers, and calls for violence against specific physicians, public officials, or pharmaceutical executives.
- In response, the healthcare sector is largely turning to video surveillance solutions to enhance staff safety during high-risk activities. In March 2024, the Delhi Health Department mandated that medical superintendents, deans, and directors of state-run medical colleges and hospitals install CCTV cameras. This move aims to bolster the safety and security of all women students and employees. Such developments are driving a rising demand for surveillance storage solutions in the Indian market.
India Surveillance Storage Industry Overview
The competitive landscape in the Indian surveillance storage market is characterized by high rivalry. This is primarily due to the presence of numerous large vendors who hold a significant market share and possess well-established distribution networks. Leading companies within this market actively engage in mergers and acquisitions (M&A) and form strategic partnerships to expand their reach and increase their market presence. Notable vendors in this sector include Honeywell, Cisco, Dell Technologies, Sparsh CCTV, CP Plus, Axis Communication, and Hikvision.
New enhancements enable security solutions to double as business intelligence tools, fueling the demand for data-intensive applications. The rising integration of AI in security cameras has prompted a transformation in recording and storage technologies. Traditional surveillance systems primarily focused on footage recording and operated mainly as write-only applications. In contrast, today's AI-driven surveillance systems engage in reading and writing data. While users once depended on cloud data centers for managing and analyzing unstructured data, this approach often led to latency issues. Transferring all video and metadata off-site for analysis resulted in noticeable delays.
To address these challenges, storage providers are embedding AI into video NVR systems and leveraging micro-datacenters. This allows for real-time initial processing, analysis, and pattern recognition right at the edge. The "edge" denotes servers and appliances situated outside traditional data centers, positioned regionally and closer to endpoints, such as surveillance cameras and sensors, where data is initially captured. Given these advancements, it is evident that edge storage is poised to revolutionize the Indian surveillance storage market.
India Surveillance Storage Market Leaders
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Prama India Private Limited
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Sparsh CCTV
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CP Plus International
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Axis Communication
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Hangzhou Hikvision Digital Technology Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
India Surveillance Storage Market News
- May 2024: Dell Technologies introduced enhancements to its Dell PowerStore, focusing on boosting performance, efficiency, resiliency, and data mobility across multiple clouds. Additionally, Dell broadened its Dell APEX offerings, introducing new AIOps features and bolstered management for multi-cloud and Kubernetes storage. Notably, Dell PowerStore, leveraging its highly flexible quad-level cell (QLC) storage, stands out for efficiently handling rising workload demands, further bolstered by notable performance upgrades.
- April 2024: Axis Communications unveiled Axis Cloud Connect, an open cloud platform aimed at delivering enhanced security solutions that are secure, flexible, and scalable. The platform integrates AXIS Camera Station Edge, harnessing the capabilities of Axis Edge devices with direct cam-to-cloud connectivity, eliminating the need for a server or NVR. This integration emphasizes video surveillance requirements, bolstered by edge-based AI, automatic notification functionalities, a user-friendly web client, and versatile storage selections.
India Surveillance Storage Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Government Projects Associated with Security Camera Installations to Surge Public Protection
5.1.2 Growing Importance of Storage Solutions with Advancements in Surveillance Technologies such as Video Analytics
5.2 Market Restraints
5.2.1 High Cost of Storage Solutions
6. MARKET SEGMENTATION
6.1 By Product
6.1.1 NAS
6.1.2 SAN
6.1.3 DAS
6.2 By Storage Media
6.2.1 HDD
6.2.2 SSD
6.3 By Deployment
6.3.1 Cloud
6.3.2 On-premise
6.4 By End-user Vertical
6.4.1 Government and Defense
6.4.2 Education
6.4.3 BFSI
6.4.4 Retail
6.4.5 Transportation and Logistics
6.4.6 Healthcare
6.4.7 Home Security
6.4.8 Other End-user Verticals
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Hangzhou Hikvision Digital Technology Co. Ltd
7.1.2 Prama India Pvt Ltd
7.1.3 Sparsh CCTV
7.1.4 CP Plus International
7.1.5 Axis Communications AB
7.1.6 Dahua Technology Co. Ltd
7.1.7 Dell Technologies
7.1.8 Seagate Technology Holding PLC
7.1.9 Honeywell International Inc.
7.1.10 Cisco Systems
7.1.11 VIVOTEK
7.1.12 ADATA
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
India Surveillance Storage Industry Segmentation
Surveillance systems refer to a combination of recording devices installed for surveillance to prevent crime in private and public locations. Data storage is a critical component of the surveillance infrastructure. The scope and the market size only cover the video surveillance storage market.
The India surveillance storage market is segmented by product (NAS, SAN, and DAS), storage media (HDD and SSD), deployment (cloud and on-premise), and end-user vertical (government and defense, education, BFSI, retail, transportation and logistics, healthcare, home security, and other end-user verticals). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Product | |
| NAS | |
| SAN | |
| DAS |
| By Storage Media | |
| HDD | |
| SSD |
| By Deployment | |
| Cloud | |
| On-premise |
| By End-user Vertical | |
| Government and Defense | |
| Education | |
| BFSI | |
| Retail | |
| Transportation and Logistics | |
| Healthcare | |
| Home Security | |
| Other End-user Verticals |
India Surveillance Storage Market Research FAQs
How big is the India Surveillance Storage Market?
The India Surveillance Storage Market size is expected to reach USD 1.40 billion in 2024 and grow at a CAGR of 9.30% to reach USD 2.10 billion by 2029.
What is the current India Surveillance Storage Market size?
In 2024, the India Surveillance Storage Market size is expected to reach USD 1.40 billion.
Who are the key players in India Surveillance Storage Market?
Prama India Private Limited, Sparsh CCTV, CP Plus International, Axis Communication and Hangzhou Hikvision Digital Technology Co., Ltd. are the major companies operating in the India Surveillance Storage Market.
What years does this India Surveillance Storage Market cover, and what was the market size in 2023?
In 2023, the India Surveillance Storage Market size was estimated at USD 1.27 billion. The report covers the India Surveillance Storage Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Surveillance Storage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Surveillance Storage Industry Report
Statistics for the 2024 India Surveillance Storage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Surveillance Storage analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
