Security and surveillance technology firm Axis Communications has set a target to grow its business at a compounded annual growth rate of 16.5 per cent for the period of next three years.
"India market for security and surveillance is expected to growth at CAGR of 16.5 per cent till 2017. We are also looking to grow at industry pace," Axis Communications' Country Manager Sudhindra Holla said here.
He, however, declined to share India revenue or any other financial details.
The company at present has installed over 80,000 surveillance cameras in India. The commercial segment like shopping malls contributes maximum revenue to its business in the country at present, followed by government verticals.
Axis Communications has a business deal with Cafe Coffee Day where it has deployed about 500 surveillance cameras.
"We expect the installation base to increase from 500 to 1500 at CCD stores by end of this year or early next year," Holla said.
Holla said that in coming days he expects government spending to increase on surveillance where it can grab a significant share.
"We have installations across public sector units, defence, critical infrastructure and various ports. It is done through our channel partners. There is going to be safe city project which I believe will a key growth driver," Holla said.
The company sells surveillance camera starting USD 160 to USD 25,000 a unit.
