More and more Indian video analytic companies are looking for customers overseas, offering a broad portfolio and robust solutions.
Since the early days of computing, India has had a strong software development industry. Software engineering is one of the most sought-after courses in Indian universities. But until recently, most large software companies in the country have been involved in the service sector.
The developments in security and surveillance industries have brought in a new opportunity for Indian software developers. Several new companies that offer video analytic solutions have come up in recent years
. This article explores some of the main reasons that make Indian video analytic companies attractive in the global market.
Also read: what's driving the video analytics market in India
1.A diverse testing ground
India is a large country with a diverse population. There are over twenty different official languages and several unofficial, making it a cultural melting pot. This means that for a video analytic company, India offers one of the best testing grounds for their solutions.
Ranjith Parackal, CEO of Uncanny Vision, pointed out that having such a large and diverse local market makes a difference when producing solutions like automatic number plate recognition (ANPR).
"India is probably one of the largest markets outside the US and China, with varied use-cases, that serves as an excellent testing ground," Parackal said. "Testing at such a diverse market makes your solution ready for any challenge that the customer may face."
Tinku Acharya, Founder, and MD of Videonetics, agreed to this, adding that India's demographic challenges help companies prepare their products for other countries. When a product is proven to work in India, there is a guarantee that it can work anywhere.
2.The talent pool
We already mentioned India's long-term interest in software development. The availability of AI engineers is a significant strength for Indian video analytic companies. Thousands of students graduate from Indian universities every year with degrees in software development and related fields but what makes them skillful and resourceful is an ecosystem that promotes interest in AI.
"The key point here is that many of these students are learning AI technology just out of interest, not necessarily because the college curriculum prescribes it," Parakkal said. "Many people are learning on their own because there is greater access to study materials online now. The global interest in creating an open-source learning environment has made a tremendous impact on the Indian talent pool."
3.Cost-efficiency and flexibility
There was a time when the low cost was associated with low quality. But that's not the case anymore. The hardware manufacturing market has proven that over the recent years. One of the advantages that Indian video analytic companies have is the ability to offer solutions at lower costs.
Parakkal suggests that India has traditionally given importance to lower costs. For a company to survive in the Indian market, cost-optimization is a significant factor. When these companies go abroad, their experience in providing cost-efficient solutions become a major advantage.
Elaborating on this, Acharya suggests that Indian companies have the ability to be more flexible with costs than their counterparts in more developed economies.
4.The China concern factor
Over the last year or so, most developed economies have become vocal about their concerns about using Chinese security products. This has been more apparent in the hardware market, where countries like the US have banned the use of Chinese cameras for federal projects. Other countries are also taking similar steps, giving rise to new alliances.
India now comes across as a feasible and safe alternative to Chinese companies for the global market. Manufacturing hardware in India is still in its early days. But on the software side, things are different and more attractive to international customers.
5.A robust intellectual property portfolio
According to Acharya, Indian video analytics companies must focus on developing a strong intellectual property portfolio to enter a global market. He says this has helped his company to get acceptance in markets like the US.
"When you initially approach a global customer as an Indian company, there is a certain skepticism," Acharya pointed out. "Will we be able to understand their requirements? Their pain points? Having patents that are in accordance with the standards of the respective countries helps in alleviating these concerns."
The rise of video analytics in security has opened many opportunities for developers worldwide. Gone are the days when a static camera recorded footage was the norm. Much like smartphones overtook feature phones, cameras with AI are becoming ubiquitous. Indian analytic companies, with their broad portfolio, talent, and cost-efficient approach, present a substantial opportunity to global customers.