Indian Security Industry Trends For 2020
The emerging Indian security market trends for 2020 are as follows:
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The Indian Security Industry is consistently growing and expanding with opportunities emanating from the government and private sector verticals. We envision a growing trend for next generation video surveillance cameras with advanced features and technologies. We are upbeat about the growth prospects and emerging opportunities in the Indian security solutions market. The emerging Indian security market trends for 2020 are as follows:
Rise of Smart Video Surveillance
We foresee an exponential growth for the latest next generation video surveillance products and solutions. The Video Surveillance Camera resolution is improving from 1080p to 4K (8 megapixels) and beyond. The IP video surveillance trend will experience a meteoric rise in the government and vertical specific projects. Intelligent Video Surveillance Cameras will continue to add value with enhanced technologies and edge based video analytics. The Analog HD demand is expected to remain steady in the Tier II and Tier III cities.
Growing adoption of AI Applications in Products and Verticals
Among the key security technologies, Artificial Intelligence (AI) is the most trending technologies. The year 2020 will see a wider proliferation of Artificial Applications into the Video surveillance, Access Control, Intrusion alarm and Perimeter security and Smart Home categories. AI technology applications are introduced to the Access control segment through Face Recognition Terminals. Hikvision’s AI enabled Face Recognition Terminals are embedded with deep-learning algorithms for Access Control and office scenarios for improving building operations, workforce management and safety operations.
AI applications further bolster Smart Vertical Specific Solutions in Real Estate, Retail (People counting, Heat Map and Queue Detection), Education, Hospitality, Healthcare, Banking, Transportation and Smart Cities segments.
Convergence of Smart Home Applications to Drive Growth
The emerging Internet of Things (IoT) trend will drive the platform based approach for convergence of Smart Home applications, technologies and solutions. The year 2020 will witness the fastest growth for IoT based Smart Home security solutions due to enhanced security awareness.
Competition to Get More Intense
In the current economic scenario the ongoing price competition in the security and surveillance market will get further intensified due to various local and global factors. A lot will depend on the government’s policy framework and GST (Goods and Service Tax) rate structure of the security and surveillance products.
Consolidation Trend to Continue
As the security industry continues to experience big shifts in technology, it is having a major impact on the big market players. We saw this consolidation trend in the form of mergers and acquisition in the recent past. Many new players have jumped into the global security industry. The Indian security market also has many new entrants getting ready for the big showdown. There is a continuing momentum towards consolidation and the trend is here to stay.
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