India's market for smart house security cameras grows by 44%

New Delhi: Shipments of smart house security cameras in India increased by 44% (year over year) in 2022, according to a report.

With a 33% market share in 2022, Xiaomi was the industry leader. According to Counterpoint Research, Tapo experienced an 88% increase and kept its second-place ranking in 2022 with a 17% share.

Indian brands made up 23% of all shipments last year, but Chinese companies continue to dominate the industry.

EZVIZ jumped to the third spot with a 16 per cent share as its shipments almost tripled.

Shipments in the Rs 1,500-Rs 2,500 price band remained the highest in 2022, capturing a 64 per cent share.

"In a price-sensitive market such as India, the entry-level price point of smart cameras (Rs 1,500) also creates a big demand-pull," said research analyst Varun Gupta.

"Smart cameras are gaining more popularity among small and medium retailers as they are less expensive and easy to install," Gupta added.

In terms of features, the 2MP camera remains popular among users, but we expect the 3MP camera to gain more traction as it is becoming more affordable.

Senior research analyst Anshika Jain said that indoor smart security cameras accounted for more than 80 per cent of the total shipments.

"It was mainly driven by increased awareness and the importance of indoor home security. Even residential developers are increasingly installing smart camera devices due to the hybrid work model," she added.

CP Plus is a well-known Indian brand in the surveillance industry and is taking big strides in the smart camera market as well. It ended 2022 with a top-10 position and a 2 per cent market share.

With inputs from IANS