Ashish P. Dhakan  
MD & CEO, Prama Hikvision India Pvt. Ltd. 

DRIVING BUSINESS-ORIENTED GOALS      
Hikvision India is moving forward with a firm commitment to ‘Make-in-India’ 2.0 vision, while working on an evolving product manufacturing roadmap for the future growth in the Indian security market. The new insights and data sets are creating new breakthroughs and the lessons from the pandemic phase have helped the company to implement the new growth strategies.  
 

According to the Economic Survey, Indian economy is expected to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally. The economy is driven by private consumption and private investment on the back of government policies to improve transport infrastructure, logistics, and the business ecosystem. According to the government of India’s latest economic survey, Schemes like PLI, National Logistics Policy, and PM Gati Shakti are set to drive economic growth. 
 

The AIoT Technology continues to advance at a rapid pace. Hikvision is empowering the ecosystem partners with AIoT enabled products and solutions and is raising the bar by following new digital insights based on market research to enhance the customer experience. The key priority for Hikvision India is to keep on innovating and evolving as an organization while staying ahead of the competition. It is fully geared up for exceeding the market expectation in FY 2023-2024. 

RESONATING WITH CUSTOMERS’ NEEDS 
The security industry’s incredible growth story is driven by the SME sector’s stupendous growth. India is the largest SME market across the globe and continuously expanding vertically and horizontally. The security market is changing at a rapid rate and it is becoming important, more than ever, to connect with the customers in a more personalised way and demonstrate the trust.  A brand that demonstrates the purpose and shows its empathy and trust will resonate with customers in the long run. In this pursuit, Hikvision always puts best efforts to enhance the customer experience.  

CUSTOMERS UNDERGOING DIGITAL TRANSFORMATION 
Digital Transformation is a process that leads to a complete makeover. It changes how an organization operates and how it engages with customers and partners. It is an extremely challenging process for IT organizations to keep pace with a digital transformation, but it’s vital for any business to remain competitive. 

The Digital Transformation involves and affects the entire organization. The key observations on the acceptance at the customers’ front on real transformation are -  

Establish initial overall metrics for determining success before starting any transformation efforts. 
Establish smaller-set metrics for specific projects and initiatives. 
Include minimal business outcomes as part of the criteria, such as revenue generation and time-to-market. 
Validate the Customer Experience Data. 

SEEKING SOLUTION TO NEWER CHALLENGES 
The Indian security industry is at an inflection point and as a leading brand, Hikvision is committed to follow the future roadmap with ‘Make-in-India’ 2.0 vision till it is fully realized. With a core focus on ‘Make-in-India’ 2.0 vision and customer centric approach, Hikvision hopes to address the challenges in 2023 and beyond and retain its leadership position through technology resilience, market foresight and product innovation.  
Hikvision India believes that newer technologies don’t necessarily mean newer challenges. The newer technologies like Artificial Intelligence bring smart analytics, add value and save time. Amidst the growing buzz created by AI applications, the automation is a fast-growing trend in the physical security industry. Automating security measures and business processes with AI and deep learning makes it possible to resolve otherwise complex issues or tedious jobs with minimal effort. 
 

As technology advances, AI is used in increasingly disparate ways to help achieve automated security measures. AI-powered applications, such as automated event alerts, false alarm reduction, ANPR (Automatic Number Plate Recognition), and people counting, have already become popular in a variety of scenarios.  
Hikvision’s newly introduced technologies (AIoT) are thereby helping enterprises to resolve the newer challenges.