Hanwha Vision Aims To Be Bigger Than Axis
While Hanwha Vision (formerly Techwin) was, at best, a tertiary surveillance competitor in the 2010s, the company has surged in the last five years (see Hanwha's financials and future). Now, the company tells IPVM that it aims to be bigger than Axis by the decade's end.
In this note, we share Hanwha's remarks, its outlook against its competitors, and our assessment of the pros and cons of Hanwha achieving this.
For context on Hanwha's growth and rivalry with Axis, see Top Manufacturers Gaining and Losing 2022, Favorite Camera Manufacturers 2022, and Top Manufacturers Gaining and Losing 2021
Current **********
**** ******* ** ******* ***** **** of ****** ******, ****** ****** *** been ******* *** ****** ** *** last * *****.
**** **** ******* *** ~$*.* ******* while ****** ****** **** ******* *** ~$750 *******, ******, * ***** ***, Hanwha *** ********** **** ***-******* ** Axis's ****** *******.
Hanwha's *******
****** **** **** (** ** ********* about****** ********** *** ******) **** ****** ****** ** ********* competitors, ********* **** *** ********, ** growth:
**'** ********* **** ** ****** ***** now. *** *********, ** **** ***** up ** **** **** *** ********* of **** **'** ***** ** *********** and ******* ***** *** ****** **** that.
****** *** ** ******** ** ***** bigger **** ****. *****,*** ****, ********* **** ********* ** ***** & ********** ** ****** ****** *******, added **** ***** ****** ** ******** up, ** ** *** ** **** task ** ******* ***** **** ** growing ** ****:
**** [****] *** ** ** *** rearview ******, ** ** ********, **** look ** ** ** ******** ***** number *** ********** ** **** *****. Three, **** ***** ***, **** ***'* care **** ** **** *****. **** have ***** ******. ******** ****, ** they **** ******** *****, ** *******, but ****'** *** ******** *****. *****'* a ********* *****. **********.
****** **** *****, *** ********* ** Hanwha ****** ************* **** ********* ** *** *** ** ********** that ********* *** ****** ** ******* at * ****** **** **** ****:
*** *********** ********* **** * **** found ** **** *** **** ***** years *********** ****** ******* *** *** companies, ****** ******* *** ** *********** 3-year ****** **** ** **%, ****** 100%. ** **********, **** ** **** 1/3 ** **. **** **** ***** for *** **** * *****, *** slowly, ******* ** **** ***** **** a *** ** ******** **** ****.
********* ******* *** **** ** ***********' supply ***** ***** **** ****** *** business, **** **** ****** ********** *** competitor ****'* ******* ** ****** **** sales ***** *** ********* ****** ******** to ****** ****** *****. ** ***** that ****** ** ********** ***** ******* and *** ********* **** ******* ****** as **** ** ******** **********:
* ***** ** *** ********* *** going ** **** **** ** * third **** ******** ** **** ** Axis. **'* [***** *** **] ***** for **** **% ** *******. *** do ** **** ** *** ****[****] are ******** **** ** *** ** back? **** ***hiring * *** ** ******. They are putting out rebate ********, they're doing a lot of things. We are monitoring, and we *** ***** *** **** *****.We *** ******** ******** ********** and things to end users and trying to make sure that they're happy with what we did for them. [Emphasis added]
**'* **** ** **** * ********* party. * ***** ** *** ***** is ***** ** **** *** *********** matter *** ** **, *** *** a ***** ****** *** *** ********, whoever ** **, *** **** *** got **% ** *** ******* ****** to ****** *** ********.
Positive **** *** ****** ******* ****
*** ******** ******* *** ****** ********* Axis ******* **********:
- ******** *** **************: ****** *** * hard-charging *******, **** *** * ****** one. ** ***** ** **** **** approach ** **** *********** ** *** long *** ** ** ***** ** that ******'* ************** **** ******** ** take *****.
- *******: ***** ****** ** *** **** known **** ***** (****' *****), ****** is ******** * ****** ******* **** greater ******* **** *****. ********, ****** has ***** **** ************** ** ******* its ****-****** ********.
- *** ******: **** ******** *** ********* the ******* ** *** ****** (****** with ****** ******* *********). ** ********, Hanwha's ******** *** ********* **** *** almost ****** *** **** ********* **** Axis.
Technology **********
***** * ******** ********** ** *** two *******'* ******** *** ********** ***** take *** **** ** ***** ** this ******, **** ********* *** ** advantage **** ******, ****** **** ********* have ****** *********** ************* *** ******** in ** *********. **** ********* **** have ***** ** *** *** / VSaaS ****, **** ****** ********* ** 2 **** (******* ******** ***** ***) *** *********** *** *** ******** **** ************ ********** **** ********* ******* **** *** partners.
Negative **** *** ****** ******* ****
*** ******** ******* *** ***** **:
- *********** ***: ****' ******* ** ***** roughly ***** ******'*, ****** ** * big *** *** ****** ** *****. Hanwha *** ** ******* **% ****** annual ******* ****** **** ****, *.*. if **** **** ** *%, ****** would **** ~**%, ** **** **** is **%, ****** ***** **** ~**%, etc. ** ** ******** *** ***** require ****** ****** ********* ** ****** or **** ****** ********.
- **** ****** ** ****: ****** *** been ************ **** ** *** **** and **** ******* ********* ******** ***** to ****. ****** **** *** ********* again *** ***** (*****, ** ********, given ***** ***** ******, ***** *** be **********), ****** **** **** ****** share ***** ******* ****** **** *** last *** *****.
***** ** **** **** *, ***** are *** *********** ********. **** *** seen **** ********* ***** *** **** struggle **** *** ***** ** ** steadily ***** *******, ****** ** * less ******** ******* **** *** ***********.
*******
* ******* *********** ******* **** *** Hanwha (** **** ** ********, *** mentioned ** **** ****, *** ****** a ***** ********** ** *** *** right) ** **** *** *** ******. Having ***** ********* ******* *** ********* will **** ********* ********** *** ******** each ***** ** ******* ****** ******* and ****** *******.
*** *** ******* ** *** **** and ***** **** ******* **** *** next ******. **** *** **** ******** lethargic ***** *** *********** (****** **** energetic **** **** ***** *** **** shortages ******), *** ***** *** **** very *****-***.
*******, ** ***** *** **** ******* well, ****** ****** **** **** ***** difficulty ******* ****.
Poll / ****
****** ***'* ***** ****, ****** ****' supply ***** ****** ********. ** **** and ***** ****** ************* *** ****** out ****** *****, * ******* ****** takes * *** ***** ***. ** cannot ** *********** *** **** ** Hanwha's ****** ***** **** ******* ***** manufacturers ******'* *******. **** ****, *****, Avigilon, *****, ***. *** *** ***** manufacturers ******* *** *** ****** ***** issues ********, **** **** **** **** much ** *** ******** *** ******** they **** ** ******. **** ** the ******** **** *** **** ** long ** **** ***** ****** ******** for ******.
*** ** ******'* **** ** ******* that ******* **** ** ** ****** with *** *********?? ** **** **** Samsung ************ *** ******* ******* *** Hanwha, *** ** **** **** ****** other ***** ** ****?
******** *** **************: ****** *** * hard-charging *******, **** *** * ****** one. ** ***** ** **** **** approach ** **** *********** ** *** long *** ** ** ***** ** that ******'* ************** **** ******** ** take *****.
***, ****** ****-********? ******, ** ****-********, you **** ******* ** ***** *** take ** ***** ***** ********** ***'* fill! **** *** ***** * *********** model **** **** *****, ******* ****** has *********** ***** ****** ** * short ******. **** *** ******* * healthy ******* ***** ********* *** **** less, *** *****. ****** ********* **** better, *** *** ***'* *********** *** the "*****" *****. * ***** ** is ********* ******* **** *** ******* turnover **** ****** ****** ******, ** is ** *** ** **********. ****** is ******** ****** ** ** ***** created *********, *** ***** *** *********** may **** ** **********, *** **** telling **** **** *** **** *** other ********* **** *******. ** *** know *** **** ***** ***! ** soon ** ***** **** * ****** and ****** ***'* ****'* ****** *****, they *** ****. ***** **** **** some **** ***** ********** *** **** speaks ******* ** ******'* ******. *** even **** ****** ********* ** ***** with **** ***** **********.
** *** **********, ***we *** ***** *** **** *****.
****** ** ******* ********** **** ***...*********, no *********. **** ****** ***** ********** centers *** *** ****** ****** ****. It's ***** *** **** ****** *** only ***** ****, ***** ****' ******** practices. ****** ****'* ******* *** **** business *******, ** **** **** *** the ******** ** ********.
** ** **** **** ** ***** to *** ********** *******, ****** (******* back ****) ******** *** **** ***** first **** ***** *************' ***************. *** in *****. **** **** ****** **** model. ** ** **** **** ****, Taylor **** (**** ****) *** ** even ***** ** ********.
** ** ********** **** ** *** former ** ** ***** *** ******, this ** *** ***** **** ** disagree **. *** ****** **** ******* ** **** new ******* *** ********. ********** **** since *** **** *** ******** ** VP ** ******, *** * ******* congratulations *** **** ****. ***** ** jump **** ***** *** ******* ** on *** ****
***** *** *** *** ***************! *** really * ************ **** ****** ** ensure *** ***** **** ********. * would **** ** ***** * **** that **** ** * ********** *** in ******* **** *** **** ********** in *** ****** *** ** ******* should *** ****** ******** **** **** going **. **** ******** **** ****** below, ******* *********** ** **** *** everyone.
**'* ***** *** **** ****** *** only ***** ****...
***** *** **** ********. ***'* *** have ******* ** **** *** **** them ***** ***** **** ** ******* another *** *****?
*'* *** ** **** ********...***** **** been, ****** * **********. **** ** affiliation ** ***** *** *********, * should ** *** ******...*** * *** to **** ** ****** ***********. * just ***'* **** ******'* ****. ***'* help *** **** **** *** ***** be * ****** ******* **** **** Axis ******** ******?
***'* **** *** **** **** *** might ** * ****** ******* **** some **** ******** ******?
******** **. * *** * *** installer (****** ** **** **** **** anything ******* ***) *** **** ***** had *** ****** ******. * **** think *** ***** **** **** ** amusing *** *** ****** ** *** handled.
** ******* ******* ****** ******* ** couldn't *** ****. ** *** **** with ******; ************ *** *******.
* **** *** * **** ***** security *******. ** ****** * ********** agreement **** ** **** **** ******. It *** ********* ** ******* *** products **** **** **** ********* **** Axis *** ** ****** ** *** away **** ***-***** ******** (***** ****). Hanwha ******* ** ** *** ********* - ** **** * **** ****** of ***** ******** ***** *****.
**** *** ** *** ***** ******** started ****** *** ********* *** **** company **** ** ******* *** ******* needs ** * ****** *******. ****** the * **** **** **** ***** 2018 **** **** ******** ***** ***** points *** *** ******* **** ** their ********.
** **** *** *** **** ****** as *** ****** ******* *** *** entire * *****. *** ******* ***** have ******** ****** *** ****, ******** they **** ********* *** ****** ** them ** ** **** ********* *** business **** ****. ***** ***** *** technical ******* ** ******* *** ******* availability *** **** ***** *******.
** ******* *** *** **** **** the **** ******** *** ********* ****** is **** ** **** ****. ** far ** *'* ********* *****, ***** and ********* ***'* **** ****** **** this ************. ******** ** * ****** - **'** *** **** **** ** to *** *** **** ****** ***** from **** *** ******.
* ********** ***'* ***** ****** ****** chase **** **** * ***** ****** / ******* *********** - **** ****** chase *** ****** *** **** ********** for ******* *** ***********. ** **** do **** *** ********* ***** **** happen.
** *** ***** **** ** ********** good *** *** ******** - ** should *** ****** ******** ** ****** prices ** * ****** ** ******* competition.
**** ** ********** ** * ********, Hanwha *** * **** ** **. I'll **** * *-**** ******** **** 3, ********** **** *** *-**** ** easier *** ****** **** ****** ** wrong. * **** ****'* **** **** robust **** ****** ************* **** *******. To *** ** *** ***, * can *** *** *********** **** ****** if ****'** ******* * **** *********** piece ** *** ***. *******, ** entertained ** **********'* ****** ************ *** on * ****** ******* **** **** Q *** * ****** **** *******. I *** ********* ** *** *** bid ***** **% ****** **** *** Hanwha ********. **** ****.
** **** * *** ******* ****** products, *** *'** **** **** *** day **** *** ****** ********. ******, I'm ***** **** **** *** **** perform ****.
*** **** *** ***** **** ** interesting, ******* *********** ****** ** **** for *********.
********** **** *****'* **** **** ****** and ******* ******** **** ******* **** with ****.
* ***** ****** **** ** *** Hanwha ****** ***** *****-***** *********. ** another ******, * ****** ****** (**********?) stated ** ***** **** *** **% of ********** ** ****** **** **** Hikua ***** **** * ****** **** insight **** *** ***-***** ******** ***** how *** *** *****-***** ******* ****** really **. *** * *** "*****-*****" to **** ******** **** *********, *** example, **** ***'* ***** "**** ** View" ****** ******* *** ****'** ******* anything **** ******* "***". ********* ~$***-***-***** products.
****** ** *** ** * **** start **** ***** *-******. * ****** our ***** *** *** ***** *** just ** *** **** ** *** begin ******** ***** *********. ******* *** line ***** ** ****** ************* ** they ****** ** **** * ***** out ** *** ****** ***** *********, especially ***** *** ***** *** ***** light *********. **** ********** **** *** thermals ***** **** ** ***** ** see. * ***'* ****** ** **** ever *** **** ***** *****'* **** catalog ** ******* ********, *** * lot ** *****'* ******** *** **** variations ** **** ***** ** ***** iterations ***** **** ************* ******* ***** garbage ********* ** ********.
****** ****** ***** * ****** ********* in *** ********* ****** -****** ****** ********** *** ****** ******** 2023
** **** ** ****** *****'* *** to **** ** ********** *** ********* relationships, **** **** ****** **** **** in *** **** ****** *****.
****** ***** ** **** (**** **** your ********)
*********** **** *** *****, ** *** jump ******* ***** ** *** * quality (** *****) ******* **** *****. Time ** ***** **** ** ** Hanwha!
* ***** **** ** ** ****. I **** **** **** ******* *** competition *** **** **** *** **** in *** **** **** ****.