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