Hikvision India is a leading provider of a versatile range of video security solutions of global standards under their brand name Hikvision. In addition to security solutions, the company also provides Smart Home, Industrial Automation, Robotics Products and Solutions. In an interaction with NCN Magazine, Mr. Ashish P. Dhakan, MD & CEO, Prama Hikvision India Pvt Ltd, shares about their company’s vision, mission, innovations, marketing strategies and future plans for the Indian market.
Please share with us Hikvision’s outlook for the Indian security solutions market and brief us about Hikvision’s growth strategy?
The Indian physical security systems market is the key market for Hikvision India. The Indian physical security market has several unique characteristics that distinguish it from other markets worldwide. From Hikvision India’s perspective, India is one of the fastest-growing markets across the categories. The Indian physical security market ecosystem has one of the largest shares of MSME players among channel partners, dealers, distributors, system integrators, installers, consultants, and end-users, making it unique.
The Indian physical security market is highly price-sensitive, with customers seeking affordable solutions. The diverse customer base is another differentiation. The market caters to a diverse customer base, including government, enterprise, and residential customers. The regional variation of physical security systems is quite relevant to India market. These requirements vary across regions, with different states and cities having unique needs. The key differentiating factors include the regulatory environment, regulatory frameworks, market dynamics, technological advancements, infrastructure, geography, cultural, and social Factors.
India’s rapid urbanization, economic growth, and increasing concerns about crime and terrorism drive demand for surveillance and security solutions. The Indian market is highly competitive, with a mix of local and international players, driving innovation and competitive pricing.
The Indian end-users are often price-sensitive and highly demanding, which has implications for the adoption of high-end security solutions. These factors combined create a unique Indian surveillance and security market that requires tailored solutions, innovative approaches, and a deep understanding of local needs and challenges.
What differentiates your approach to the Indian market compared to other geographies?
The Indian physical security market stands out from other geographies for several reasons. According to Grand View Research, the physical security market in India is projected to reach USD 14.4 billion by 2030, expanding at a robust compound annual growth rate (CAGR) of 10.5%. Rapid urbanization, smart city initiatives, and the transition toward cloud-based security-as-a-service (SaaS) and AI-integrated video surveillance are the primary drivers of this growth. Growing concerns about safety and security across various sectors drive it. The video security market caters to a wide range of verticals, including BFSI, Government, PPOG, Education, Hospitality, Retail, Transportation, Real Estate, Telecom and IT, and others. Each vertical has unique security solution requirements and best practices.
India is embracing cutting-edge technologies such as AI, IoT, and cloud-based security solutions, thereby enhancing threat detection and response capabilities. The Indian government has launched initiatives such as the Smart Cities Mission, which emphasizes the development of smart technologies, including surveillance and security systems. Rising urbanization and crime rates are driving demand for advanced physical security solutions, including access control, surveillance systems, and perimeter security. The market features a mix of global and local players, each striving to offer innovative solutions to unique security challenges across sectors.
What is your strategy for the Tier-II, III and IV cities in India from where the next phase of growth is expected?
We are catering to the demand for security products and solutions in Tier-II, III, and IV cities by understanding their requirements. Here are some ways we can address the needs of these markets – we recognize the unique challenges and opportunities in each tier, such as limited infrastructure, growing demand for security solutions, and increasing urbanization. We identify key industries and sectors driving growth in these cities, like manufacturing, IT and healthcare.
We develop customized security solutions that meet the specific needs of businesses and residents in these cities. We offer scalable solutions that adapt to the growing demands of these markets. We provide training and capacity-building programs for local businesses, residents, and law enforcement agencies.
How is Hikvision localizing its AI-powered security solutions to meet India’s unique security challenges?
Hikvision is optimising its products with AI technology to facilitate security and business intelligence innovations in several ways. As the adage goes ‘every picture tells a story’, we dig deep to get the video insights.
Some of our key security innovations are:
Advanced Video Analytics: Hikvision’s advanced video analytics can detect and recognise objects, people, and vehicles, enabling features such as intrusion detection, people counting, and facial recognition.
Intelligent Alarm Systems: Advanced alarm systems can distinguish real threats from false alarms, reducing unnecessary responses and improving response times.
Smart Search and Forensic Analysis: Smart search capabilities enable quick, accurate forensic analysis, helping investigators identify and track suspects.
Some of the Business Intelligence innovations are:
People Counting and Heat Mapping: People counting and heat mapping enable businesses to optimise store layouts, improve the customer experience, and increase sales.
Queue Management and Analysis: Queue management systems help businesses optimise staffing, reduce wait times, and improve customer satisfaction.
Business Intelligence Dashboards: Business Intelligence dashboards provide businesses with real-time insights into customer behaviour, sales trends, and operational efficiency.
What Hikvision plans for the next 2–3 years in the areas of R&D, manufacturing and talent development in India?
Hikvision India is working closely with the end users to offer innovative solutions to India-specific security challenges. Addressing unique security concerns related to various local, regional and vertical-specific issues. We are offering customized solutions through R&D initiatives. In This emphasis on innovation and research and development enables Hikvision India to provide top-quality products and reliable technical support across India.
Some of the key technologies used by Hikvision to address India-centric security challenges include:
Video Security Solutions: Providing high-resolution video feeds and real-time monitoring across verticals.
Video Analytics: Using Video Analytics to detect unusual activities and send instant alerts to security personnel.
Integrated Security Solutions: Integrating various security components onto a single management platform.
Incident Reporting and Response via Mobile Applications: Allowing staff to report incidents in real-time and facilitating quicker responses to unsafe practices or security breaches.
Covered By: NCN MAGAZINE / Hikvision
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