Chinese players lead India smart home security camera shipments in 2022: Report
According to Counterpoint Research’s Smart House IoT Services, Xiaomi, EZVIZ by Hikvision and Tapo by TP-Hyperlink led the sector in Q4 2022 with 65% market share. These 3 businesses grabbed 66% market place share in 2022.
As for every research analyst Varun Gupta, the sector grew appreciably in 2022 as extra consumers became aware of good cameras.
“In a price tag-sensitive market place these types of as India, the entry-degree rate point of good cameras (Rs 1,500) also makes a massive demand pull. Shipments in the Rs 1,500-Rs 2,500 price tag band remained the greatest in 2022, capturing 64% share,” Gupta mentioned, introducing that safety will continue being a key worry amid shoppers and the marketplace is envisioned to execute very well in 2023.
Chinese players dominate India marketplace
Xiaomi topped the checklist with 15% YoY expansion and 33% share in 2022. It captured best place in Q4 2022 with 25% share.
Tapo, an featuring by China-based mostly TP-Hyperlink continued to be at the 2nd place in 2022 with 88% annual progress and a 17% marketplace share. It dominated on the internet marketplaces these types of as Amazon and Flipkart.
EZVIZ by China’s Hikvision grabbed the 3rd location in 2022 with a 16% market share. It registered powerful demand for its indoor and outdoor cameras.
Qubo by Hero Electronix saw a 10% YoY increase in shipments in 2022 with a 10% current market share. Notably, it is the only Indian model amongst the top rated 5 gamers and has a emphasis on neighborhood producing.
Imou by a different Chinese participant Dahua Technologies was the swiftest-growing brand name in 2022 with a 7% market place share. Realme done the leading five listing with a 4% market place share and 38% YoY progress.
“The market continues to be dominated by Chinese players, with the Indian makes accounting for 23% of whole shipments in 2022. The domestic manufacturing in the course of the calendar year stood at 12%, still really low for an emerging marketplace. On the other hand, we count on domestic manufacturing to choose up in the coming time period as far more Indian brands look to foray into this sector, these types of as Airtel,” Gupta extra.
Rising brands
India’s CP As well as was amid the major 10 good dwelling digicam players in 2022 and registered 2% marketplace share. Likewise, Indian manufacturer Zebronics also finished up in the leading 10 record with a current market share of 2%, nonetheless, it skilled a decline of 24% YoY in 2022. Taiwanese brand name D-Connection is emerging and recorded 17% expansion to arrive at the best 10 with a 2% industry share.
