Hikvision topped the global security rankings for the seventh year in a row
As technology advances, artificial intelligence (AI) is used in increasingly disparate ways to help achieve automated security measures.
Ashish P Dhakan, MD & CEO, Prama Hikvision India Pvt Ltd.
What were the major achievements of Hikvision India in 2022?
We have been able to add value as a leading brand in terms of product innovation, consistent quality and agile service support to our partner ecosystem. Our ‘Make-in-India’ manufacturing facility proved to be a key factor in spurring growth and expansion of video surveillance market. In other words, we were able to match our market growth with the nation’s fast growing economy and upbeat market sentiments. The market expansion is happening due to a big surge in demand from across the verticals. The competition is on the rise due to various new players joining the fray. The security market is poised for an unprecedented growth due to various factors related to Indian economy, infrastructure development and ongoing projects.
Hikvision India is consistently adding value with new product offerings and leading the market with the latest technologies in the segment. We are committed to our ecosystem partners and end-users of consistent customer centric approach, product innovation, excellent quality and agile service support. We are a pure play business to business channel driven company based on growth, mutual trust and long term relationship. We are in a rapid expansion mode. We are grateful to our channel partners and end-users for their impeccable trust. We stand committed to the security professional community comprising of dealers, distributors, installers, system integrators and consultants.
The year 2022 saw marked growth in the market for the majority of the Security 50 companies in video surveillance and access control. Hikvision has topped the global security rankings for the seventh year in a row since 2016. The revenue reported by Hikvision for the financial year 2021 exceeded the US$10 billion mark, standing at US $ 10.1 billion, growing 16.9 percent from 2020’s $8.64 billion.
Notable innovations by the company in 2022 (if any).
Hikvision India has introduced many innovative products across the video security, access control, intrusion alarm and security inspection segments. We have introduced DeepinView cameras and DeepinMind NVRs with embedded Deep Learning algorithms, such as ANPR, people counting, and queue detection, to achieve a suite of intelligent functions for businesses.
Hikvision India has recently introduced the game-changer eDVR Series into its expanding portfolio of security solutions for SMBs in India. Powered by embedded solid state drive (eSSD) technology, Hikvision’s eDVRs are compact, durable, easy-to-use, and energy-efficient. All this means they are ideal for small-to-medium-sized businesses and residential applications. We are happy to launch this innovative product eDVR Series in India. The eDVR Series is smarter, faster, more durable and more energy efficient than anything that’s gone before, not only helping to minimize negative environmental impacts, but also delivering major energy and cost savings for our customers.
We have also introduced the X-Ray Baggage & Parcel Inspection System in India. It is powered by value added features like AI based threat identification, built in Artificial Intelligence and Real Time Video Monitoring, etc. Hikvision X-Ray Baggage & Parcel Inspection System is an innovative product offering in the security inspection product segment.
The significant product launches in the year 2022, included eDVR, ColorVu Pro series PTZ Cameras, 8-K NVRs, MinMoe Iris Recognition Terminal and Hikvision Solar-Powered Security Camera Setup apart from the high-end project oriented product offerings. The end customers’ reaffirmed their faith in our innovative Video Security (ColorVu and AcuSense Range of video security cameras) and Access Control (MinMoe Face Recognition Terminals and Video Door Phones). Our Intrusion Alarm (AX Hub, Emergency Call Box and Smart Pole) and Inspection products (X-Ray Baggage Scanners, Hand Held Metal Detector, Door Frame Metal Detector) have generated lots of interest among end-users.
How has been the year 2022 in terms of business?
Hikvision India has made significant strides in terms of business growth and expansion. Make-in-India 2.0 is a collective success for all the stakeholders of Hikvision India and it is realising the vision of Atmanirbhar Bharat. We are committed to the ‘Make-in-India’ vision with a long term perspective. Our state-of-the-art manufacturing facility at Vasai is a living testimony of a manufacturing marvel that is unfolding through Indian video security products and solutions. These solutions are customized for Indian environment and conditions and specific local requirements. Our mission is to be aligned with the government of India’s ‘Make-in-India’ program to transform India into a global design and manufacturing hub. Through the local state-of-the-art manufacturing plant, Hikvision India is manufacturing its wide range of products and solutions as per our commitment to ‘Make-in-India’ vision.
There is a significant progress in import substitution happening due to our ‘Make-in-India’ manufacturing facility. The ‘Make-in-India’ program is helping to lower dependence on imports and boost local production of high-value video security products. The other reasons that are helping to regain the momentum for local manufacturing include, economic stability, robust legal system, cost effective labour, skilled workforce, high quality production, cost savings on import duties, domestic market demand and ease of doing business.
What are the key vertical markets Hikvision India is focusing on?
Over the years, we have strengthened our position in the traditional vertical markets of Smart Cities, City Surveillance, Homeland Security, Real Estate, Banking Financial Services and Insurance (BFSI), Retail, Gems and Jewellery, Logistics, Transportation, Education, Pharma, Healthcare, Hospitality, Tourism, Heavy Industries and Oil & Gas, etc. With our vast experience and expertise in these verticals, we are developing highly specialized and customizable solutions as per the requirements of the end-users.
We are now focusing on the new verticals emerging along with the time and trends. The new verticals of the future are evolving with the technology and market trends. These newly evolving verticals are fast emerging E-Commerce, Logistic Hubs, Smart Mobility, Stat-up Ecosystem, Smart Farming, Renewable Energy and Industry 4.0, etc.
Goals achieved in 2022 and goals for 2023.
It was a great learning experience. We were resilient and agile during the Post-Pandemic phase and our teams kept working on goals till it was accomplished. Now there is a surge in demand across the verticals, it is spurring the growth of the security industry. It was a great learning experience for all of us to evolve further through the various phases of growth. We were focused on the digital transformation by optimizing our digital assets and apps. It further helped us to enhance our marketing collaterals and ecosystem partners to add value through digital initiatives.
We have the requisite resilience and innovative strategies on our side to communicate and engage the security market in a simple and effective manner. We are following the ‘Make-in-India’ 2.0 vision and it is a perfect manufacturing roadmap for the future. The key priority for our management leadership at Hikvision India is to keep on innovating and evolving as an organization while navigating through the evolving challenges and opportunities that exists in the Indian security market.
We have set the strategic priorities of our goals based on capacity, capital and capability. Our focused marketing initiatives are based on the evolving market trends, technology advantages, customer and employee demand for societal impact. The customer expectations are very high, there is an intense pressure to deliver results despite increasing competition, economic uncertainty and upheaval.
Technologies that will trend in 2023 in the video surveillance industry.
Hikvision India is betting big on Artificial Intelligence (AI), Robotics, Machine Vision and Internet of Things (IoT) technologies as they are adding value to the security solutions. As technology advances, artificial intelligence (AI) is used in increasingly disparate ways to help achieve automated security measures. It’s now also being used in business scenarios, making it possible for business owners to resolve complex issues or tedious jobs with minimal effort. AI-powered applications, such as automated event alerts, false alarm reduction, ANPR (Automatic Number Plate Recognition), and people counting, have already become popular in a variety of scenarios.
In the Indian physical security market, the year 2023 will be a year of big change in terms of technologies, applications, products and solutions. Beyond traditional ‘physical security’, as the technologies (AI, cloud computing, IoT, and cyber security) and trends are evolving further. It is moving from mere security domain to encompass a wider scope of activity that will expand the next level of safety and business intelligence.
AI Applications will drive growth: Today, Artificial Intelligence is gaining momentum in the Indian security industry and it is bound to drive the growth in the enterprise vertical segments. The vertical based end-user in the industry has recognized the value of AI, and have found new uses for AI applications in various scenarios. AI Analytics, ANPR, automated event alerts, and false alarm reduction, AI technologies are being used for wider applications, like personal protective equipment (PPE) detection, fall detection for the elderly, mine surface detection, and much more.
AIoT trend will go to the next level: With more security cameras and other security devices being connected to the network, the Indian security industry is becoming an important part of AIoT trend, this AIoT trend will take the security industry to the next level of digital transformation. With more perception capabilities like radar, lidar, temperature measuring, humidity sensing, and gas leak detection are being added to security devices and systems. This will lead to multifunctional perception capabilities, parameters and functions embedded in the security system. This will not only expand the scope of security systems, but make them evolve into more holistic solutions.
Converged Security systems will be in demand: The convergence of various security systems onto a platform has been proven to be an effective approach towards security. It is expected that app based advanced converged security systems will be in demand in the near future.
Cloud-based solutions and services will expand: The cloud-based solutions and services are expanding in the India. From small business markets to enterprise levels, we can see the momentum for cloud-based security solutions and services.
Biometric Access Control will move to the Next Phase: In the past decades, authorized access control has moved a long way away from the keys, pin codes and ID cards. We now find ourselves stepping into the next phase of biometrics era. The access control market is rapidly becoming occupied by biometric authentications, from fingerprint and palm print recognition to facial and iris recognition.
