Chinese language firms like Realme, TP-Hyperlink and Hikvision dominated India’s dwelling surveillance digicam market in 2022 with 77 p.c share, market analysis agency Counterpoint Analysis mentioned on Thursday.
In accordance with Counterpoint’s Sensible Dwelling IoT Service, just one Indian model Qubo by Hero Electronix figured among the many high six in India’s good dwelling safety digicam 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 whole shipments in 2022. The home manufacturing throughout the 12 months stood at 12 p.c, nonetheless very low for an rising market.
“Nevertheless, we anticipate home manufacturing to choose up within the coming interval as extra Indian manufacturers look to foray into this market, resembling Airtel,” Counterpoint Analysis Analyst Varun Gupta mentioned.
India’s good dwelling safety digicam market shipments grew 44 p.c year-on-year in 2022, with Xiaomi main the phase with 33 p.c share.
“The market grew considerably in 2022 as extra customers have gotten conscious of good cameras. In a price-sensitive market resembling India, the entry-level worth level of good cameras (Rs. 1,500 ) additionally creates an enormous demand pull. Shipments in The Rs.1,500-Rs.2,500 worth band remained the 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 development and a 17 p.c market share.