Chinese language firms like Realme, TP-Hyperlink and Hikvision dominated India’s house surveillance digital camera market in 2022 with 77 % share, market analysis agency Counterpoint Analysis stated on Thursday.
In line with Counterpoint’s Sensible Dwelling IoT Service, just one Indian model Qubo by Hero Electronix figured among the many prime six in India’s sensible house safety digital camera market. It had a market share of 10 % in 2022.
“The market stays dominated by Chinese language gamers, with the Indian manufacturers accounting for 23 % of complete shipments in 2022. The home manufacturing through the 12 months stood at 12 %, nonetheless very low for an rising market.
“Nevertheless, we count on home manufacturing to choose up within the coming interval as extra Indian manufacturers look to foray into this market, equivalent to Airtel,” Counterpoint Analysis Analyst Varun Gupta stated.
India’s sensible house safety digital camera market shipments grew 44 % year-on-year in 2022, with Xiaomi main the phase with 33 % share.
“The market grew considerably in 2022 as extra customers have gotten conscious of sensible cameras. In a price-sensitive market equivalent to India, the entry-level worth level of sensible cameras (Rs. 1,500 ) additionally creates an enormous demand pull. Shipments within the Rs. 1,500-Rs. 2,500 worth band remained the very best in 2022, capturing 64 % share,” Gupta stated.
Tapo by TP-Hyperlink continued to be on the second spot in 2022 with 88 % annual progress and a 17 % market share.