Global Perimeter Security Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2017-2022

HIKVISION CONTINUE TO LEAD THE PERIMETER SECURITY MARKET                                                            

Hangzhou Hikvision Digital Technology Co., Ltd., commonly known as Hikvision is a global manufacturer and distributor of perimeter security devices, based in China. The company offers security solutions for various domains including Banking & Finance, Hotel, Industrial, Parking, Retail, and Traffic Management. Hikvision ranked 1014 in the Forbes list of World’s Biggest Public companies in 2017. The company has shown a significant rate in the recent years. The company has shown a growth of 31% in 2017 year-on-year (YoY) basis. Operating income of the company has been increased to $6.6 billion in 2017 from $5.04 billion in 2016. Prior to this, the company has recorded a growth of 26% in operating income in 2016 and 46% in 2015.

The company offers various types of security appliances, which include Network Cameras, Thermal Cameras, Analog Camera, Intercom Access, and Video Recorders. The growth of the company can be calculated by the increase in the market share at a global level. In 2010, the company had less than 5% market, which reached to more than 20% in 2017. It is due to the increasing demand for security and surveillance products in the domestic market, wide-expansion policies across the globe, and low-cost of products while maintaining required quality. To innovate and develop new products, the company has a team of more than 7,000 engineers. It annually invests about 7%-8% of its annual sales revenue to R&D for continued product innovation. The company has R&D centers in Silicon Valley and Canada along with Beijing, Shanghai, Chongqing, and Wuhan in China. During its  19 years after inception, the company has developed 33 overseas regional subsidiaries and 35 branches in China.

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Chinese’s companies are ruling the global CCTV market. Hikvision along with Dahua Technologies and Uniview Technologies holds more than 30% the global video surveillance revenue. Other major Chinese players include Scene Electronics, JEC Electronics, I-Vision, Sunell, DLX Engineering, Golbong, and Joyware. Similar to Hikvision, these companies are also investing 8%-10% of their revenue in R&D activities. The Chinese companies have expanded their product offering from camera hardware to video analytics, advanced NVRs, and sophisticated video management systems during the last few years. In Oct, 2017 Hikvision introduced Artificial Intelligence (AI) Cloud. It is the next level of AI technology development and can be implemented in a variety of vertical applications. The AI cloud offered by the company helps users in offering various computing capabilities. It allows users to store and process data either in a privately-owned cloud or on a third-party server located in a data center.AI is expected to be the most trending technology in the security industry during the forecast period. Hence, Hikvision has developed cloud technology to solve real world in different verticals.

Chinese perimeter security companies are also opting for strategies of expansion to increase their sales and market reach. Hikvision acquired Pyronix in Apr, 2016 to expand their intrusion detection technology and customer base in the UK. In 2016, Hikvision established four new subsidiaries in Kazakhstan, Colombia, Turkey and Dubai. Similarly, in 2016, Dahua expanded its offices in Canada, Panama, Poland, and Hungary. Hikvision also presented plans to expand its R&D center in Canada and Silicon Valley in 2017. In Mar, 2018 Hikvision has opened a new Source Code Transparency Center (SCTC) in California, the US. The center permits government agencies in the North America to review the source code for a wide array of IP cameras and Network Video Recorders (NVRs).

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The Chinese companies are estimated to dominate the perimeter security market during the forecast period. Western manufacturers are not in a position to compete with high volumes and lower price offered by the Chinese manufactures. A western company can lead the market by going in to a significant merger with other company, however no such merger has been observed in the recent times, impact the trend.

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