Global Video #Surveillance market to Reach $105.99 Billion by 2026 and How New Technology will Play Key Role; DirectView Holdings, Inc (OTC: $DIRV), FLIR ( $FLIR) Honeywell ( $HON) and Panasonic ( $PCRFY)
Point Roberts, WA - November 29, 2018 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering security stocks releases a sector snapshot of the growing global video surveillance market, how companies in the sector are capitalizing on it and how smarter technology plays into the growth.
According to a report just released, "the Global Video Surveillance market accounted for $30.01 billion in 2017 and is expected to reach $105.99 billion by 2026 growing at a CAGR of 15% during the forecast period."
Continued: "Some of the important factors driving the market growth include rising demand for DIY and Spy Cameras, recent events of crimes and terrorist attacks and growing implementation of IP Cameras. One of the major opportunities is the Ongoing Technological Advancements in Big Data, Video Analytics, IoT, and Cloud-Based Services."
Video and security technology company, DirectView Holdings, Inc. (OTC: DIRV) is hoping to tap into the growth of the sector through an acquisition plan, while simultaneously building out revenue with existing clients and contracts. The Company just announced yesterday they have signed a Buyer's Agreement Contract with Murphy Business Sales, a business brokerage firm specializing in mergers and acquisitions, to locate and acquire profitable companies in the surveillance and security industry.
From the news: "According to the agreement, the targeted business must generate annual sales ranging between $1,500,000.00 to $10,000,000.00, must be located in the United States and must fall in either of the following categories; CCTV integrators, CCTV Websites, Alarm Companies, Monitoring Companies, Low Voltage Cabling Companies and WiFi companies."
This follows up on news last week that the Company achieved record sales and gross profits for the nine months ended September 30, 2018, reporting 22% sales growth to a record $3.3 million, a 20% growth in product sales to a record $2.7 million and a 32% growth in services sales to a record $0.6 million.
Looking at the biggest companies in the sector as a model for growth, market competition by top manufacturers based on production, revenue and market size, include: Hangzhou Hikvision, Honeywell, Axis Communications, Zhejiang Dahua Technology, FLIR Systems, Avigilon Corporation, Hanwha Techwin, Infinova Corporation, Nice Systems, Panasonic, Pelco By Schneider Electric, Start-Up Ecosystem, IP Video Mobile Technologies, Camcloud Inc., Solink Corporation and Camiolog, Inc., according to LPInformation.biz.
FLIR Systems, Inc. (NASDAQ:FLIR) announced financial results for the third quarter on October 30th saying, "Overall, I was pleased with the third quarter performance," said Jim Cannon, FLIR President and Chief Executive Officer. "We delivered strong performance reaching our highest quarterly gross margin, operating margin, and operating cash flow in over five years. We also continued organic revenue growth despite challenging year-over-year comparables."
FLIR is betting on technology advancement for its future and recently announced the launch of FLIR TruWITNESS®, an industry-first wearable sensor platform designed for city-level security and public safety operations. TruWITNESS combines video, audio, location data, Internet of Things (IoT) capabilities, and cloud and management software in one solution, allowing organizations to reach a new level of situational awareness. In mid- October they also reported the industry’s first deep learning inference-enabled machine vision camera, the FLIR Firefly.
DirectView Holdings, Inc. (OTC: DIRV) CEO Ralston also sees AI and deep learning as part of the future, telling Investor Ideas in a previous podcast interview, "The surveillance industry is continually evolving. We are now offering artificial intelligence."
Talking about smarter security and surveillance as a key to growth, Honeywell International Inc. (NYSE: HON) said "As buildings become smarter, driven by trends like the Internet of Things and our increasingly connected world, security operations must follow suit. This can be a tall order, however, when you consider the scope and size of today’s connected organizations - and the number of cameras and other endpoints personnel must manage," said John Rajchert, President, Honeywell Building Solutions. "DVM R620 serves as a conduit for improved operator productivity and risk mitigation, leveraging connectivity for smarter surveillance that can more easily grow and expand as needs change and evolve."
Panasonic Corporation’s (PCRFY) Panasonic System Solutions Company of North America, Security Group, introduced its FacePRO deep learning facial recognition system, using extreme sensing and enhanced detection technology to identify persons of interest and alert authorities of their presence in real-time, at the Global Security Exchange (GSX) 2018 Expo in Las Vegas in September.
For investors following the sector key trends to look for include companies incorporating and integrating smarter technology, enhancing their current product portfolios.
Investor Ideas has created a directory of security stocks for investors following the sector. See the preview here.
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