Amid security threats and fear of potential terrorist attacks, the closed circuit television (CCTV) camera market in India is likely to reach Rs 2,200 crore by 2015, an Assocham study has said.
The CCTV camera market is poised at Rs 1,000 crore and growing at an annual growth rate of 30%.
"...Rising industrial activity amid security threats, fear of potential terrorist attacks has fuelled the demand for CCTV cameras evidently as government authorities and private sector are investing huge amounts into installation," Assocham Secretary General DS Rawat said while releasing the study today.
Deployment of CCTVs significantly help in carrying out post-attack investigation, besides, combating security breaches and terror threats at sensitive places like railway stations, airports, hospitals and markets.
"Tier-II and Tier-III cities, currently having a small proportion of security system installations, are going to emerge as the real growth drivers of this technology driven industry in the long run," he said.
Bosch, Reliance-Siemens, GE and Honeywell are certain leading companies involved in manufacturing equipment for the security industry.