The Indian arm of Swedish network video service provider, Axis Communications, will evaluate the prospect of manufacturing in India as it looks to grow its business at over 26 per cent, backed by high demand for network video services.

“We are a global company and we manufacture our products globally. We have around seven configuration and logistics centres globally. In India, we don’t have a manufacturing facility yet. But it is in the plan. Initiatives such as Make in India are driving organisations like us to seriously consider manufacturing in India. We will definitely get into this when the time is right and we feel it is relevant,” said Sudhindra Holla, director — India & Saarc, Axis Communications.

According to IHS estimates, the global video surveillance market is expected to grow from $588 million to $1.5 billion by 2023 at a CAGR of 18.3 per cent. The network cameras market is estimated to grow from $225 million to $605 million, a CAGR of 26.6 per cent.