Smart cities will drive video surveillance market in India, Seagate says
As the drive to build smart and secure cities gains momentum, the relevance of video-based surveillance to ensure safety at the workplace and beyond has increased multifold, a senior executive of US-based data storage company Seagate has said.
According to a recent report from Ireland-based Research and Markets, India’s video surveillance market is projected to grow at a compound annual growth rate (CAGR) of nearly 13 per cent during 2017-2023.
IP video surveillance segment growing
According to International Data Corporation (IDC), the global surveillance storage market will grow at over 15 per cent CAGR in terms of units, while the petabytes (a form of data) shipped will grow at a pace of 26 per cent (CAGR).
“Increase in video data to support video analytics, growth of surveillance in the healthcare sector, rise of biometric applications and video management and Internet of Things (IOT) are some of the key trends that will transform the video surveillance industry in India.