Today the CCTV, Video Surveillance and Security Industry is growing at a phenomenal rate. It is being tipped as the fastest growing sector in the security segment due to unprecedented demand for security solutions. According to Persistence Market Research, the CCTV camera market size in India has shown a consistent growth. The market demand is exceeding the forecast by the analysts. The Indian CCTV market is estimated to be around US$ 1.04 billion in 2023.
According to Industry experts and market analysts, India can emulate the mobile manufacturing success story in the CCTV and IP camera manufacturing. There is a need to see the big picture and move forward. The big bang changes are happening and new realities are emerging from the market data. As per the quick estimates for selected and major commodities for March 2023, electronic exports have become the 6th largest export commodity group. This is a good news for India’s fast growing electronic security manufacturing sector. A manufacturing success story can be replicated in the CCTV and security Industry segment.
It’s clear that the CCTV Surveillance, Security products and Smart Home Security is going to be much in demand. The trends are now showing the uptick for unprecedented growth in the CCTV and IP Camera segment. The CCTV growth saga is going to be the next big thing.
The Government has taken several steps which are expected to increase the domestic manufacturing and export of electronics goods, including mobile phones. These include, Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing, Production Linked Incentive Scheme (PLI) for IT hardware, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters (EMC 2.0) under the National Policy on Electronics, 2019, which envisages positioning India as a global hub for Electronics, System Design and Manufacturing (ESDM). FDI up to 100% under the automatic route is permitted for electronics manufacturing subject to applicable laws.
Production Linked Incentive (PLI) Impetus: The Production Linked Incentive (PLI) schemes becoming successful in the electronic manufacturing sector. The Production Linked Incentive scheme for Large-Scale Electronics Manufacturing (LSEM) and for IT hardware is advancing towards making India a competitive destination for electronics manufacturing and providing a boost to Atmanirbhar Bharat while creating more global champions in this sector. As a result of government initiatives and industry efforts, India has made rapid advances in the past five years in the field of electronics manufacturing.
PRAMA is following these definitive R&D Goals
Technology Leadership: PRAMA is striving for the technology leadership in the Indian security market. It has a wide array of latest products and bespoke vertical solutions. These products and solutions are driven by the cutting-edge technologies and applications.
Research & Development Wing for India Specific Needs: PRAMA has the Research and Development Wing for India specific needs as prescribed by the end-users. A highly skilled research and development teams are helping to serve the end-user requirements in stitching innovative solutions, integrating applications or helping through technology innovation.
Customizable Solutions: PRAMA offers customizable solutions for the customers’ special requirements. These customizable solutions are the shining testimony of Prama India’s technology capabilities and software prowess.
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