All Set to Drive Indian Physical Security Market to Next Level of Growth
Q. Take us through the journey of Prama Hikvision in India and the company’s current achievements?
The journey of a thousand miles begins with a single step, as the famous proverb goes. The decade long journey of Prama Hikvision India has many milestones that were driven by this timeless wisdom that all great things start with a humble beginning. We are celebrating 10 years of growth, innovation and technology leadership.
We are grateful to all our partners, well wishers and key stakeholders. Today, Prama Hikvision India is known as the leading security systems and solution providers in the country. The company has established an impeccable trust and reputation among security industry professionals in India. With a commitment to provide high quality products with excellent technical support, the company serves to a large network of dealers and system integrators all across India with its wide reach through 51+ branch offices, 21 RMA centers and 2,000 + motivated employees.
Q. Tell us about your focus on innovation and R&D activities through the new facility?
Our core focus hinges on customer centricity, technology innovations, quality products and value-added services. Prama Hikvision has a state-of-the-art R&D center for implementing innovative technologies (AI, Deep Learning, Machine Vision, Robotics, IoT & Big data) through India-specific products and solutions.As a leader in security technologies and innovations, Hikvision has a long-term research and development focus. Our R&D initiatives continue to offer cutting-edge technologies and solutions in the security and surveillance domains.
Q. Tell us more about Prama Hikvision India’s Make in India roadmap?
As a leading security solutions provider in India, Prama Hikvision is consistently expanding its market in the Video Surveillance and security product domains. Prama Hikvision India has made a big-ticket investment in ‘Make-in-India’ vision. The company is implementing an India specific product roadmap for India market.
Prama Hikvision’s ‘Make-in-India’ manufacturing facility in Vasai is the largest in the security industry segment in India. The manufacturing facility is spread over 9 Lac Sq. Ft. area near Mumbai. This manufacturing facility produces 8 Lac Cameras and 1 Lac back-end devices per month. We are inspired by the ‘Make- in-India’ vision and will continue to expand our manufacturing facility with a long-term commitment.
Q. Tell us about Prama Hikvision solutions with respect to AI and Industry 4.0. Are Indian companies showing readiness to adopt these advanced technologies and solutions?
Our latest solutions in Artificial Intelligence (AI) Technology, AI Cloud, Deep Learning, Big Data and IoT (Internet of Things) space shows that our key value proposition is technology innovations. Prama Hikvision is offering the latest products and solutions with innovative technologies like Artificial Intelligence, IoT Machine Vision and Robotics, in the Indian Security market. Our Machine Vision and Robotics solutions are bolstering the Industry 4.0 trends in the Indian scenario. Hikvision’s AI (Artificial Intelligence) applications are a key differentiator among the competing brands.
Hikvision has introduced a wide range of innovative products and solutions in the year 2019 with AI applications. This includes Artificial Intelligence (AI) enabled applications for Banking, Retail, Hospitality, Transportation and Smart City. Hikvision also has AI Cloud, DeepinView cameras & DeepinMind NVRs. These solutions boast a bundle of intelligent features such as facial recognition, vehicle recognition, object detection, people counting, behaviour analysis, & much more.
Q. In your view, are government initiatives like Digital India and Make in India triggering growth in the surveillance segment?
It is heartening to see the impact of pro-growth policies announced by the government to focus on development of infrastructure projects, these policies are yielding some positive results. The three-pronged strategy of Smart City Mission, Digital India and Make in India programs by the government has created a positive impact on the economy.
Q. What are the future growth prospects of smart security products market in India?
The growth prospects of the smart security products market in India are very bright due to enhanced security awareness and growing requirements. We are experiencing a good growth in the current financial year. The current state of the physical security market in India is very conducive to growth and expansion. Apart from the eight metro cities, India’s Tier -II and Tier-III cities are developing fast due to various socio-economic factors. This is spurring demand for security and surveillance products in the market.
Q. In your view, what are the market requirements that are driving the usage of smart security systems?What opportunities is Prama Hikvision is sensing in this segment?
The growing awareness and popularity about smart security trends, systems and solutions are driving the sales of Smart Security Systems in the future. The need for security among citizens is felt more than ever due to enhanced threats and risks. The Smart Security system market segment is expected to witness growth at a faster rate on account of increasing adoption of Smart Home Security systems due to growing criminal activities with increasing safety and security concerns among consumers and end-users.
We, at Prama Hikvision, see lots of new opportunities emanating from the Smart Security Systems market in Smart Home (EZVIZ Smart Home Products and Solutions), Video Surveillance (DeepinView Camera, DeepinMind NVR, Easy IP 4.0, ColorVu and AcuSense Cameras), Access control (Face Recognition Terminals), Perimeter Security (Security Radar), and Intrusion Alarm (AXHub) product categories.These opportunities are related to the government and other vertical specific enterprise market segments.The big surge in market requirement is driving the usage of smart security systems due to the following factors: Growing need for security, DIY and smart security trends, young generation’s aspirations to be more smart and secure. The future growth of smart security systems will also involve the key stakeholders from the insurance and telecom sectors.
Q. Please comment on the challenges in your segment with respect to India market?
There are multiple challenges faced by the security industry in the Indian market scenario, they are related to cost competition, tax structure (GST),certifications and standards, adoption of new technologies, security education and training, and meeting customer expectations. There is a lack of product and technology information in the public domain. These challenges are stumbling blocks for the growth of the security industry.
Q. Comment on Prama Hikvision’s growth strategy and vision in the coming years?
We are well prepared for the exponential growth in the Indian security market. We had already started production in ‘Make-In-India’ manufacturing plant near Mumbai. We are also planning to set up the new manufacturing facilities in other states. We will lead the company from the front till the vision is realized to its full potential. We are setting a new benchmark the by producing India specific products and solutions. Our motto is Made for India, Made by India and Made in India.
We are focusedn on taking the latest security products and solutions to the tier II and tier III cities to support the goal of securing the emerging new India.Apart from innovative vertical specific solutions and customized solutions, integrated security solutions powered by AI applications will be a game changer idea. We will move further by expanding our network and manufacturing facilities, we will be spending more time and resources in CSR activities, mentoring youngsters and incubating start-ups. We also wish to support social and community causes, which are close to our vision.