Videocon Forays Into CCTV Segment, Eyes Rs 175 Crore Revenue In FY18
The current video surveillance market of approx Rs 3650 crore is 55 per cent of the overall Rs 6600 crore security & surveillance market and is projected to grow at a CAGR of 26 per cent and reach Rs 9150 crore by 2021, which is 2.5 times the current market size
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Videocon Telecom announces its entry into fast-growing Rs 6600 Crore Security and Surveillance market with its new brand of ‘Videocon WallCam’. The brand will bring in a wide range of security and surveillance products with its prime focus on Video Surveillance products to cater Enterprise, Government, institutional and retail (residential and small commercial setups) segments.
Videocon WallCam is eyeing 15 per cent of the organised player market share by the end of FY 2019 and aims to be among the top 3 players in the category by 2021. In the financial year 2017-18 the company is aiming for Rs 175 Cr revenue. For the year 2019 Videocon has planned to reach the mark of Rs 450 Cr and in 2021 to clock revenue of Rs 1150 Cr.
Talking to BW Businessworld, Arvind Bali, CEO, Telecom & Handset said that Videocon is focusing prominently on the offline retail space to sell their products. “We have our CCTV camera starting from Rs 1000 to Rs 1 lakh. More than 70 per cent of the sale will happen via retail and rest from e-commerce.”
In order to maintain a balance between both the channels, the company has different offers, models, and products available for retail and e-commerce separately.
The current video surveillance market of approx Rs 3650 crore is 55 per cent of the overall Rs 6600 Cr security & surveillance market and is projected to grow at a CAGR of 26 per cent and reach Rs 9150 crore by 2021, which is 2.5 times the current market size.
Videocon will compete with 5-6 major players in the market. According to research and articles available on the public domain, CP Plus leads the market share with 24 per cent. While local and Chinese brands have 28 per cent market share. Dahua and HikVision got 19 and 17 per cent market share respectively. Panasonic, Godrej and other brands have 8 per cent market share and imported brands have 4 per cent.
The company has finalised its range of products to be offered in the institutional and retail market segments and is now scouting for system integrators and Distributors for its Go to market.
The company is also seeing a lot of synergy from its existing business lines including its Broadband business for IP-based solution, cloud storage and access; and DTH business for installation of CCTV.