Chinese corporations like Realme, TP-Link and Hikvision dominated India’s residence surveillance digital camera market in 2022 with 77 p.c share, market analysis agency Counterpoint Research stated on Thursday.
According to Counterpoint’s Smart Home IoT Service, just one Indian model Qubo by Hero Electronix figured among the many high six in India’s sensible residence safety digital camera market. It had a market share of 10 p.c in 2022.
“The market remains dominated by Chinese players, with the Indian brands accounting for 23 percent of total shipments in 2022. The domestic production during the year stood at 12 percent, still very low for an emerging market.
“However, we anticipate home manufacturing to choose up within the coming interval as extra Indian manufacturers look to foray into this market, akin to Airtel,” Counterpoint Research Analyst Varun Gupta said.
India’s smart home security camera market shipments grew 44 percent year-on-year in 2022, with Xiaomi leading the segment with 33 percent share.
“The market grew considerably in 2022 as extra customers have gotten conscious of sensible cameras. In a price-sensitive market akin to India, the entry-level value level of sensible cameras (Rs. 1,500 ) additionally creates a giant demand pull. Shipments within the Rs. 1,500-Rs. 2,500 value band remained the best in 2022, capturing 64 p.c share,” Gupta said.
Tapo by TP-Link continued to be at the second spot in 2022 with 88 percent annual growth and a 17 percent market share.
