Security and safety concerns are increasing with the changing lifestyles, expanding urbanization, increasing crime rate, and above all increasing terrorism across the globe. With latest advances in the technology, the significance of security and surveillance systems have changed as people are realizing the benefits derived from it. According to the latest IMS Research report, worldwide market for video surveillance equipment will grow more than 12 percent in 2012 despite the weak and uncertain economic environment. The global market will be driven by strong demand for video surveillance solutions in the BRIC (Brazil, Russia, India and China) countries. Over the past few years, video surveillance technology has evolved from being just a security tool to a tool for monitoring things like quality of service, pilferage, MIS and customer response. Besides security, the use of surveillance as a tool for increasing business efficiency has also increased.
Video surveillance systems can be classified as analog-based surveillance systems and IP-based surveillance systems, depending on the underlying technologies over which the solutions are deployed. In India, analog-based surveillance systems dominate the video surveillance market currently. However, shift towards digital technology-based IP surveillance systems can be traced as a recent trend and these surveillance systems are finding its space across industry verticals, namely, retail, manufacturing & warehousing, home land security, government & transportation, and banking & finance. According to 6Wresearch, India Video Surveillance market is expected to reach USD 952.94 million by 2016, with a CAGR of 32.49 percent from 2011-2016. In 2011, though analog-based surveillance systems accounted for majority of the share i.e. 67.80 percent in the overall market, but IP-based surveillance systems are expected to grow with relatively higher CAGR of 41.78 percent from 2011-2016. This trend of IP surveillance overtaking...
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