According to Associated Chambers of Commerce and Industry of India (ASSOCHAM), the video surveillance and closed circuit television (CCTV) camera market in India is likely to reach Rs 22 billion by 2015. Growing at a compounded annual growth rate (CAGR) of about 30 per cent, this industry is going to emerge as a huge market in the coming years. Currently, demand from the government and the public, followed by the industrial and commercial sectors, has fuelled the growth of the CCTV camera market.
The Indian electronics security industry is largely imports based with a handful of indigenous manufacturers struggling to survive in a market full of giant global players and an unorganised open market. Though this segment still has a long way to go to match the standards of the developed world, it is expanding fast.