IQinVision Management Shakeup Examined

Author: John Honovich, Published on Sep 12, 2011

Two weeks ago, in the original version of this note, we examined a number of key challenges at IQinVision including repeated layoffs and failure to keep pace with the megapixel market growth rate. Sources indicate that multiple members of their management team, including the CEO, have been let go. Now, IQinVision confirms the CEO change.

Our concerns and issues identified below remain:

IQinVision was one of the pioneers of the megapixel camera market. Just a few years ago, IQinVision was widely acknowledged as one of the biggest and perhaps the best megapixel manufacturer, especially in the US market. Since then, demand for megapixel cameras has exploded but IQinVision's growth has not matched the overall market. In this note, we examine what we believe happened and where IQinVision now stands.

Let's start with a review of key points:

  • Our sources indicate that IQinVision's 2011 revenue is in the ~$20 Million range, roughly the same level the company has achived in the past 2 years and a fraction of what rival Arecont Vision is reporting for 2010.
  • While IQinVision reports doubling revenue from 2007 to today, we believe that most of the growth happened in the first half of the period and minimal growth over the second half.
  • IQinVision has conducted a series of layoffs over the last 3 years with at least one significant event per year.
  • IQinVision was a vocal skeptic of H.264 for a long time.
  • IQinVision was late in migrating over to H.264 with one of their most popular series not offering complete H.264 support until this summer (Sentinel HD H.264).
  • In the past 3 years, literally everyone has jumped into the megapixel market. Among them, Axis, Panasonic and Sony are likely the most relevant to IQinVision's market positioning.

We see two factors impacting IQinVision:

  • The expansion of the camera incumbents like Axis and Sony into the market. IQinVision was generally the choice of people who wanted quality products. Axis and Sony now provide competitive offerings (e.g., integrator interest in the Axis P series is quite high - a direct alternative to most IQinVision products).
  • The delay in going all in for H.264 and the company's skepticism towards H.264. Whether there was any doubt a few years ago, now it is very clear that H.264 has won the battle for sales and mindshare.

With a full H.264 line today, IQinVision has resolved one of these issues. However, the key challenge that will remain is for IQinVision to differentiate themselves against the mainstream camera incumbents (all of the 'original' megapixel manufacturers have had to do this - e.g., Arecont is the cheap choice, Mobotix is the all in one choice, Lumenera is essentially gone). While IQinVision will likely continue to make quality products, that will not be sufficient to compete directly against much bigger organizations that also make quality products.

With a significantly revamped management team and new CEO, it will be interesting to see if IQinVision's strategy will change. Partners and dealers should track such changes closely.

1 report cite this report:

Winners and Losers Fall 2011 on Sep 25, 2011
Now that the dust has settled from the new announcements of the last month, we can better understand the impact on the overall video surveillance...
Comments : PRO Members only. Login. or Join.

Most Recent Industry Reports

July 2018 IP Networking Course on Jun 16, 2018
The last chance to save $50 on registration is this Thursday, June 21st. Register now and save. This is the only networking course designed...
The Dumb Ones: PSA's Bozeman On Cybersecurity on Jun 15, 2018
The smart ones are the hundred people who flew to Denver and spent $500+ on a 1.5-day conference featuring Dahua as a 'cyber responsible partner',...
Amazon Ring Launches $10 Monthly Professional Alarm Monitoring on Jun 15, 2018
Amazon's Ring has announced an alarm system with 24/7 professional alarm monitoring for $10 per month, a fraction of the $30+ per month traditional...
Axis Releases First New Access Controller In 5 Years (A1601) on Jun 15, 2018
It has been 5 years since Axis 2013 entry in the physical access control market, with the A1001 (IPVM test). Now, Axis has released its second...
Hikvision 12MP Fisheye Camera Tested (DS-2CD63C2F-IV) on Jun 14, 2018
Hikvision's DS-2CD63C2F-IV is their flagship panoramic camera, with a 12MP imager, 15m integrated IR, smart codec, and more. We tested the 63C2 in...
Four Major Outdoor Camera Install Problems on Jun 14, 2018
Over 140 integrators told us the top four camera installation mistakes that lead to unexpected problems and failures. Their comments often...
Security Sales Course Summer 2018 on Jun 14, 2018
Based on member's interest, IPVM is offering a security sales course this summer. Register Now - IPVM Security Sales Course Summer...
China Public Video Surveillance Guide: From Skynet to Sharp Eyes on Jun 14, 2018
China is expanding its video surveillance network to achieve “100%” nationwide coverage by 2020, including facial recognition capabilities and a...
IPVM For PR / Marketing People on Jun 13, 2018
This post helps PR and Marketing people understand and productively work with IPVM (as much as possible given our independent, often critical,...
Avigilon H4 Multi-Sensor Adds 32MP, H.265, Analytics on Jun 13, 2018
Avigilon has announced the H4 Multisensor, the successor to their repositionable multi imager line, adding features like H.265, integrated IR,...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact