Network video vendor Axis Communications announced its expansion plans for India.
The $724 million plus Axis Communications is considering India as one of the important markets for its products and solutions.
Axis Communications, which spends around 15 percent on research and development, is planning to expand its channel partners to embark on its expansion plans.
The company is expecting around 25 percent revenue growth during the current fiscal against around 30 percent during the last financial year.
Sudhindra Holla, country manager, Axis Communications India, said: “We will be growing faster than the industry growth. Main growth will come from IP-based video surveillance solutions.”
He said the new government led by Narendra Modi will boost the spending on video surveillance solutions across the country.
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Axis Communications focuses on industry verticals such as education, banking and finance, retail, transportation, government, etc.
Asia Pacific currently contributes 14 percent revenue to the network video vendor, while North America brings 45 percent and 41 percent from EMEA.
Axis Communications’ Sudhindra Holla said the Indian enterprise IT market is moving towards intelligent surveillance solutions that can additionally offer smart analytics and reduce the personnel time spent on analyzing huge amounts of video data.
The company has increased focus on segments including hospitality, ports, city surveillance, critical infrastructure, banking, education and retail across tier-2 and 3 markets and is looking at partnerships to further strengthen foothold.