Mr. Ashish P. Dhakan, MD & CEO, Prama Hikvision India Pvt. Ltd. shares his views on the security market in India and Hikvision’s priorities going forward.
What are your views on the security market in India? Which technologies and products are gaining more traction in the market?
India is one of the fastest growing markets for security products and solutions across the globe. The Indian security market is currently moving towards a mature stage. In the next 10 years, India’s security market will experience a boom like never before. The government’s Smart City Mission, Make in India and Digital India initiatives are creating new opportunities for the security Industry.
We at Hikvision offer latest products embedded with innovative technologies, including Deep Learning, Artificial Intelligence (AI), AI Cloud, Big Data and IoT. Now Hikvision’s latest offerings in the Surveillance and Security product segments are gaining traction in the market. We have a leading position in the surveillance product segment. We are currently experiencing a surge in demand for Hikvision’s security products in the Access Control, Storage, VDP and LED Monitor categories.
What kind of technology innovations can we expect in your security products and solutions in 2018?
The top trending technologies driving the security industry are Artificial Intelligence (AI) and Deep Learning. AI technology will continue to become more common and more powerful. This trend will strengthen critical security efforts in every sphere. Now, Hikvision’s DeepinView Cameras and DeepinMind NVRs and Servers will lead the way in this new world of video surveillance technology by making invisible intelligence visible for users, and then putting that intelligence to good use.
Hikvision has recently released a cybersecurity white paper designed to be an educational resource for the security industry. Hikvision believes it is crucial for industry leaders to work together to understand cybersecurity risks and to take measures to meet those challenges for the IoT industry. The Hikvision cybersecurity white paper outlines current security threats for the Internet of Things, and for network and information security in the surveillance industry.
How much growth do you expect in the security and surveillance market in India in 2018?
The story of Hikvision in India is one of tremendous growth, which runs in parallel with Hikvision’s global ascent to the top of the world’s security companies. Both a&s magazine’s Security 50 Rankings and IHS Markit report (2017), have named Hikvision as the world’s leading supplier of video surveillance products and solutions. According to the IHS report based on 2016 data, Hikvision has a 21.4% market share of the CCTV and video surveillance equipment market worldwide.
We are expecting a good growth for Hikvision in the security and surveillance market in India.
What is your strategy to combat increased competition in the security market in India?
Hikvision’s approach to the Indian market is very much customer focused. Everything that we do is customer centric. We do everything around the customer and this strategy is helping us become successful. Hikvision in India is leading from the front to deliver innovations and value added service to its clients. We are making big ticket investments in training programmes for Hikvision partners.
What are your expectations from the Union budget 2018-19 from a security industry perspective?
The Security Industry has kept their hopes high from Union Budget 2018-19 and is expecting exemptions, tax reduction and incentives. The expected increase in budgetary allocations for Infrastructure sector will help security Industry’s growth prospects. The Union Budget 2018 is expected to cover changes in indirect levies to make importers to do more production in India to promote “Make in India” programme.
The one expectation for Security Surveillance industry is shifting of GST to lower tax bracket since its now becoming a necessity and gaining importance in contemporary situations. The other aspect is allowing the Corporate Society Responsibility (CSR) in kind, wherein we as an industry can support to a public security cause by installing the surveillance system in City, Roads, Hospitals, Schools, Housing and Commercial Societies etc.