Videocon Telecom a subsidiary of Videocon Group has announced its entry into the security and surveillance market by introducing a new CCTV brand 'Videocon WallCam'.
Announcing the company's foray into the new vertical Arvind Bali, CEO, Videocon Telecom said, 'The current Video surveillance market of approx Rs 3650 crore is 55 percent of the overall Rs 6600 crore security and surveillance market and is projected to grow at a CAGR of 26 percent and reach Rs 9150 crore by 2021, which is 2.5 times the current market size."
He further added, "The growth will be driven by households, including small commercial establishment (Shops& Offices) segments and the key success factor for market expansion will be affordability, ease of use (plug n play), and quality.This is where Videocon as a brand has its expertise in. We are all set to enter this market in a big way and capitalize on brand acceptability, manufacturing capabilities, R&D, distribution strength and reach.
"However, with the new launch, the brand will be bringing in a wide range of security and surveillance products with a prime focus on Video Surveillance products to cater to the Enterprise, Government, institutional and retail (residential and small commercial set-ups) segments.
As per the company, in addition to basic surveillance products such as Analogue high definition(AHD), Internet Protocol (IP) and wireless camera, 'Videocon WallCam' will also offer customized security solutions to institutional, corporate and government sectors. Besides, Videocon is already engaged in select Government and Enterprise security and surveillance projects. The company has bagged many prestigious accounts in the domain already.
Nonetheless, with "WallCam" Videocon is eyeing to gain 15 percent of the organized player market share by the end of financial year (FY) 2019 and the company also aims to be among the top 3 players in the category by 2021. "Riding on its diversification into new business verticals like security and surveillance, smartphone accessories, smart homes and city solutions as well as Mobile VAS, Videocon Telecom is targeting topline revenue of Rs 300 crore during the FY 2017-18," the company said.
Separately, the company's existing business lines including Broadband and FTTH services in Punjab, Haryana and Himachal Pradesh; Wholesale ILD Carrier business; Smart Solutions and Tower business are also projected to contribute a topline revenue of Rs 1358 crore during the FY taking the total consolidated revenue to Rs 1658 crore in the current financial year.