: Chinese home security camera brands dominate Indian market #FinanceIndia #StockMarketNEWS Chinese home security camera brands dominate Indian market New Delhi, Mar 17 (KNN) There has been a 44

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Chinese home security camera brands dominate Indian market #FinanceIndia #StockMarketNEWS
Chinese home security camera brands dominate Indian market New Delhi, Mar 17 (KNN) There has been a 44 per cent (on-year) growth in 2022 in Indias smart home security camera market, as per a report by Counterpoint Research.

Xiaomi led the market in 2022 with a 33 per cent share.

Smart Home IoT Service, only one Indian brand Qubo by Hero Electronix figured among the top six in Indias smart home security camera market.

It had a market share of 10 per cent in 2022.

Following the list Tapo at second position registered 88 per cent growth in 2022 with a 17 per cent share.

The market remains dominated by Chinese players, with the Indian brands accounting for 23 per cent of total shipments last year.

The domestic production during the year stood at 12 per cent, still very low for an emerging market.

"However, we expect domestic manufacturing to pick up in the coming period as more Indian brands look to foray into this market, such as Airtel," Counterpoint Research Analyst Varun Gupta said. (KNN Bureau)