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India’s CCTV Camera Market to reach $13.08 Billion by 2029 with CAGR of 16.9%

Inaugral ceremony of SAFE West 2024

India’s security market size projected to exhibit a growth rate (CAGR) of 12.2% during 2024-2032.

The 2nd edition of SAFE West India, India’s premier security and fire expo, organized by Informa Markets in India, commenced today at the Bombay Exhibition Centre in Mumbai. The three-day event, held from May 9th to 11th 2024, offers a platform for industry players, government officials and enthusiasts to converge, innovate, and address the challenges and opportunities in the industrial safety and security sector.

SAFE West encompasses a wide range of trends and solutions in the realm of commercial security and surveillance, focusing on preventive technologies and innovations tailored for the Western India market. The expo united esteemed Indian brands specializing in CCTV, surveillance, biometrics, entrance automation, access control, GPS, Wi-Fi routers, RFID, spy cameras, POE switches, power supply, and CCTV cables.

The inaugural ceremony of SAFE West India 2024 was graced by esteemed guests, including Mr. Sanjeev Tiwari, ARVP, ASIS West India Region; Mr. Sandeep Sabharwal, Assistant Vice President – Corporate Administration, Aditya Birla Management Corporation Pvt. Ltd; Mr. Vijay Goel, Vice President, Trade Association of Information Technology (TAIT); Prof. Amol Deshmukh, Police and Cyber Advisor, Dept. of Home, Govt. of Maharashtra; Mr. Yogesh Mudras, Managing Director, Informa Markets in India; Mr. Pankaj Jain, Sr. Group Director & Digital Head, Informa Markets in India.

Over 75 brands, including prominent players like Hikvision, Prama, Panasonic, CP Plus, ZKTeco, ESSL, Biomax, Matrix Comsec, Securus, Voltaic Cables, Realtime, Timewatch, TP Link, etc, are exhibiting their latest products, services, and technologies. The expo also features a dedicated two-day conference themed – Intelligent Security Tech for a Safer Future with over 40 speakers, 12 insightful sessions and is anticipating attendance from over 5000 trade visitors. The diverse participation makes it a significant gathering in the realm of security industry.

This event is supported by prominent associations, including All India Electronics Security Association (AIESA), American Society for Industrial Security (ASIS) Mumbai, Ahmedabad, and Delhi Chapters, Association of System Integrators and Retailers in Technology (ASIRT), Global Association for Corporate Services (GACS), International Institute of Security and Safety Management (IISSM), Jalgaon District Computer Dealers Association (JDCDA), Kathiyawad Security and Surveillance Assembly (KASSA), Overseas Security Advisory Council (OSAC) Mumbai and Chennai Chapters, The Gujarat Surveillance and IT Association (GSITA), and Trade association of information technology (TAIT), Computer and Media Dealer`s Association Pune, (CMDA), South Gujarat Information Technologists Association ( SITA), Security Association of India, Security association of Gujrat, Federation of IT association of Gujrat (FITAG} , Islampurcomputer dealer association and Knowledge Partner: Mitkat Advisory, enhancing its credibility and industry support and reflects a collaborative approach to advancing security and safety.

Prof. Amol Deshmukh, Police and Cyber Advisor, Dept. of Home, Govt. of Maharashtra, said “From July 1st, significant changes are underway as three old acts—Indian Penal Code, Indian Criminal Procedure Code, and Indian Evidence Act—are being replaced by Bharatiya Nyaya Sanhita, Bharatiya Nyaya Shastra, and BharatiyaSakshaAdhiniyam. These new acts aim to revamp and replace outdated colonial laws in India, focusing on a victim-centric approach and enhancing national and homeland security. Recent reports from the National Crime Record Bureau indicate an increase in cyber and physical crimes. However, with advancements in technology, law enforcement agencies are better equipped to solve crimes. Today, surveillance teams in control rooms can identify detailed information, including the brand of spectacles someone is wearing. This technological shift has revolutionized crime investigation and fire safety, aiding in both prevention and investigation. Integration of cyber and physical security offers a unique opportunity to create a safer India. The knowledge shared at SAFE West India will contribute significantly to our collective efforts.”

Recognizing the significance of SAFE West India, Mr. Sandeep Sabharwal, Assistant Vice President – Corporate Administration, Aditya Birla Management Corporation Pvt. Ltd, said “SAFE West India provides a valuable platform for stakeholders from various sectors, including vendors, industries, and end-users, to come together and collaborate. The evolution of security is evident, from traditional methods to integrated technological solutions like AI, IoT, and cloud-based systems.Now security is an integrated form, not limited to a guard at the gate but includes sophisticated systems such as video monitoring, perimeter intrusion detection, and drone surveillance, enhancing overall safety. With this being the second edition, we are confident that SAFE West India will surpass its previous successes.”

Ashish P. Dhakan, CEO of Prama Hikvision India, said “Indian security market ecosystem is rapidly adopting AI, IoT and cloud based technologies and diverse solutions. The adoption rate for AIoT solutions is growing faster with the awareness of its advantages. Hikvision India is at the forefront of AIoT technology innovations and is offering cutting -edge technologies in all its latest products and solution. Hikvision unveiled 4G solar cameras, embedded network video recorders (eNVRs), smart hybrid cameras, and PT solutions. Hikvision showcased their latest in AI and robotics technology, featuring video security, access control, and perimeter security solutions. Notably, they introduced mobile robots, machine vision products, and logistic vision solutions.

He further added, the impact of 5G-enabled cameras, eliminating cabling needs for applications like highway surveillance. Even familiar products like X-ray scanners are getting smarter, now using AI to identify items and generate QR codes. These advancements underscore the growing importance of technology in security. Platforms like SAFE West India play a vital role in presenting these innovations and driving industry growth.”

Mr. Anup Nair, President Sales, CP Plus, said “In terms of industry size, the surveillance industry stands at approximately $2 billion including server storage at the consumption level and around $1.5 billion at the OEM level. Post-COVID, the industry has stabilized and is growing at a CAGR of 15 to 18 percent. CP Plus closed last year at about 3,000 crores, with a growth rate of almost 25%. We anticipate maintaining this growth rate for the next two to three years, outpacing industry growth. We are hopeful for government initiatives, especially with infrastructure spending, and expect a post-election push to further boost the industry. Continuity in policies, especially the ‘Make in India’ initiative, is crucial, and we are actively collaborating with the government. In terms of demand, residential segment has shown substantial growth apart from commercial and industrial surveillance to. With the rise of 4G cameras, Wi-Fi cameras, and hybrid solutions, significant growth is seen in the consumer segment. Many SMBs are adopting hybrid and cloud solutions, leading to an overlap between B2B and B2C segments.”

Mr. Bijoy Alaylo, Vice President, Channel networking & Surveillance, TP-Link India said “SAFE West India has significantly contributed to the surveillance industry. With the industry experiencing a remarkable 15% year-on-year growth, it is currently valued between 7,000 to 8,000 crores. SAFE West India provides a crucial platform for various brands to exhibit their cutting-edge security systems, hardware, and software solutions.  TP-Link, a leading networking brand, has recently diversified into the surveillance sector, launching a wide range of products, including 2MP to 8MP cameras, ANPR cameras, PTZ cameras, and more. With over 1400 SKUs in the surveillance portfolio worldwide and a remarkable 42% market share in the networking industry, TP-Link aims to capitalize on the burgeoning surveillance market in India, planning to launch 250 new products by 2024. Additionally, the company is introducing an array of IoT devices, including sensors, doorbells, and smart locks under the TAPO brand. Security has become a vital addition to TP-Link’s portfolio, with a major focus on enterprise-level surveillance solutions and consumer-oriented products.

While the surveillance industry in India is growing, government involvement is crucial in regulating the market. Stringent regulations are needed to ensure the installation of reliable surveillance systems across the country, safeguarding the security of Indian citizens. Government-implemented measures would enforce quality standards and accountability among surveillance system manufacturers and brands.”

Speaking on the 2nd edition of SAFE West India in Mumbai, Mr. Yogesh Mudras, Managing Director, Informa Markets in India said, “As India strives to achieve its target of a $5 trillion economy, the government’s investment of approximately $30 billion in smart city initiatives underscores the growing importance of security and safety infrastructure. Related hardware, including surveillance and safety equipment, communication devices, displays, video surveillance, access control systems, and detectors and sensors incorporating Internet-of-Things technologies, will be in high demand.”

“Additionally, with the Indian Electronic Security Market projected to surge from USD 2.56 billion in 2024 to USD 7.36 billion by 2029, at a compelling CAGR of 23.57%, SAFE West India serves as a crucial platform. With our second edition we’re committed to bridging the gap between the show and end-users in key cities across Maharashtra, Gujarat, Goa, parts of North & Coastal Karnataka, and Madhya Pradesh. SAFE West India continues to offer a distinctive opportunity for key players in the commercial, industrial, and homeland security sectors to access and thrive in the rapidly expanding Western market.” He added.

Mr. Vijay Goel, Vice President, Trade Association of Information Technology (TAIT), said “SAFE West India is an excellent event, underscores the importance of security, a critical aspect for both the present and the future. Today, security is a primary concern, whether it’s physical or digital. People are now willing to invest more in security than ever before. By providing a platform for OEMs, customers, system integrators, solution partners, and regional distributors, SAFE West India, organized by Informa Markets in India, has played a pivotal role in addressing the critical issue of security. We acknowledge the invaluable opportunity, the exhibition provides by showcasing cutting-edge security solutions, enhancing industry collaborations, and promoting the latest advancements in security solutions.”

Highlighting the importance of the event, Mr. Sanjeev Tiwari, ARVP, American Society for Industrial Security (ASIS) West India Region, said “The emphasis on technology in today’s security landscape is undeniable. Many organizations are now looking to replace mundane tasks with technology. Especially in a country with a population exceeding 1.4 billion, it’s essential to adapt to the changing technological landscape. As the threat landscape evolves, from terrorism to insider threats and geopolitical risks, it’s essential to adapt to these changes. SAFE West India 2024, provides a valuable platform for stakeholders to come together, discuss, and find innovative solutions to our security challenges.”

In addition to the enthralling live demonstrations, product showcases, and invaluable networking opportunities, SAFE West India 2024 also features an extensive conference program. The ongoing conference addresses crucial topics such as “AI and Predictive Intelligence as Business-Enablers”, “Managing Security Across Locations Globally – Risks & Challenges”, “Unleashing Your Business Potential: Power of an Integrated Security & Automation”, and “Key Role Played by Next-Gen Tech in Industrial Security”.

Day 2 of the conference will focus on topics including “Threats to Cyber Security at a Hybrid Workplace”, “Next-Gen Surveillance: AI-Powered Cameras and Intelligent Video Analytics in Transforming Security”, “Future-Proofing Safe Cities with Advanced Security Tech”, “The Future of Security: Disruptive Technologies in Enterprise Security Risk Management”, and “The Evolution of Corporate Security – Convergence of Physical and Virtual Workplaces & Assets”.

India is focusing on ambitious and innovative programs such as the Smart Cities Mission, aiming to eliminate infrastructural bottlenecks, minimise operational friction, and promote a healthy urban environment. Recent innovations in surveillance, security, and network offerings are gradually reducing the costs of specialized products and increasing their overall effectiveness. The digitisation and the ever-increasing deployment of video surveillance systems are further catalyzing market growth. By bringing together industry experts, government officials, and stakeholders, SAFE West India not only explores the latest trends but also contributes to the broader goal of creating safer and more sustainable urban environments in India.

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