Motorola Solutions Q1 2021 Financials Examined

By Isabella Cheng, Published May 10, 2021, 09:40am EDT

Motorola Solutions increased its projected video surveillance growth rate, claims they are taking market share and will reach over $1.1 billion in video surveillance revenue this year.

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Inside this report, we examine:

  • Video surveillance revenue growth
  • Overall revenue growth
  • North America v. International sales
  • Comments on demand and projected growth
  • Revenue growth to rival Axis
  • Government business demand
  • Education vertical growth
  • Integration success strategy
  • Body-worn camera competition against Axon
  • On Dahua and Hikvision

*** *********, *** ********'***-*,********* ************, *********** **** **********.

Video ************ ******* ** **.*% ** $*** *******

***** ************ ******* *** Q1 **** *** $*** million ***, ** **.*% from $*** ******* ** Q1 ****, *******, **** includes ******* **** ************ and ***** ************.

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** ******** ******* (********) growth *** ** **** to ** *-**% **** over ****, ***** ** estimating ********* (***** *** IndigoVision) ******* ** $** to $** ******* *** the *******.

******** ******** *** ** revenue ******** $** ******* from ************, ****** **** into $** ******* ** the ******** *** ** segment *** $** ******* in ******** *** ********. The "********" ** **** revenue **** **** ***** and ************, ******** **** IPVM, ******** *** ******* had * ***** ***-***** acquisitions ** ****:

** **** * ************ in ****. *** ******** of *** $** ******* of ** ******* **** came **** ************ *** related ** ***** *** IndigoVision, *** *** *** of **. *** ***** three ************ **** *********** were ** *** ******* center ******** *** *** services **********.

********'* ***** ***** ******* was ~$*** ******* ** Q1 ****, ** *** Greg ***** ****** "***** video ***** ** ************* 70% ** *** ***** video ******** *******." **** equates ** $*** ******* annual *** **** *** Avigilon, *****, *** ************.

Overall ******* ** *%

******** ********* ******** $*.* billion *** ** ******* for ** ****, ** 7% **** ** ****.

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***** ******** ****** ** drive *** ****** ** both *** ******** *** Systems *********** ** **** as *** ******** *** Services ********:

** ******** *** ******* Integration ***** **** $* billion, ** *%primarily driven ** ****** ** ***** ******** *** ************ *** ********** ************** ****** ** ***** sales ** ****** ****** LMR, ***** **** ******** by ****** ***********.

****** ** *** ******** and ******** *******, ** revenue *** $*** *******, up **% **** **** yeardriven ** ****** ** *** ********, ***** ********, *** ******* ****** ********.

Video ******** ****** ****** ** ***** ******* *** ***************

***** ******** *** **** cited ** ******* ** growth *** **** ***** America *** ***************:

***** ******* ** ******* was $*.* *******, ** 6% ***growth ** ***, ***** ********, *** ******* ****** ********.

************* ** ******* ** $588 ******* *** ** 9% **** ****** ** EMEA, **** ***, *** Latin *******. *** ****** wasdriven ** ***** ******** *** ***.

********'* ******* ** ***** heavily ************ (~*/*) ** North *******.

Demand ** ***** ******** ******** "****** ******," **+% ********* ****** *** ****

****** ** ********'* ******** business ** "****** ******" and *** ******* ******* to *** **** **% growth ** **** ******** for ****, ******* ******** expectations *** *** **** from *** **** *****, Brown ****:

*** ****** ***** * would *** ** ****** in *** ***** ******** business ** ****** ****** and ** *** ****** full **** ****** ** be **% ****, ** from *** **** ***** we ********** ** *** last ****.

**+% ** ********** ******** to *** ****** ** the ****** ******* ** in *** ****** ******. Indeed, ***** **** ********'* video ******** ******** ** "growing ****** **** *** overall ******":

** ***** *****, ***** makes ** ************* **% of *** ***** ***** security *******, *** *********** in ** *********, ***** services, ****** ******* *** NDAA-compliant ************* ** *************** us **** *** *********** anddriving ****** ****** **** *** ******* ******.

***** **+% ** * high ******* *** ******* growth, ** ** ******** that ******** *** ****** more ************ **** ****, just ** **** ***** IndigoVision *** ***** ** their ********* ** ****.

Revenue ** ***** $* ******* ** ****, *********** ****

********'* ***** ******** ******* was $*** ******* ** 2020. **** **+% ******, Motorola ******* ***** ******** revenue ** ** ~$*.* billion ** *** *** of **** ****, *********** rival ****' ******* ****** the **** *** *****.

** *** **** *** years, ******** *** ******* grown *** ***** ********, primarily ******* ************. ******** with ******* ******** ***********, ******** *** **** from *********** ** ***** business ** **** ****'* projected ******* ****.

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*** ***** ***** *** fiscal **** **** ***** only ~*/* ** ********'* 2018 ******* ******* *** acquisition **** *** *** close ***** *** *** of ***** ****.

Optimistic ***** ******** ****** ** ********** ******

******** ** ********** ***** the ******** ** *** video ***** ** ********** entities, ******* ** ******* $300 ******* ** ***** video *** ****** ***** sales ** *********** ** 2021:

* ***** *** ****** about ** ******* *** video ******** **** ********** and ** *** ********that *** * ******* ******* ******** *** ** **** * *** ***** ***, will ******* $*** ******* to start there, and I think that really plays on as Greg said both strength in fixed and mobile. And I think we stand at the intersection of two really important things, transparency and government efficiency.

*******, *** ******* **** stimulus ********, **** ** the ******** ****** ****, puts ******** ** * position ** **** *** multiple *****:

*** **** ***** *'* close **** ** ***American ****** **** **** ** ** **** *** *****-**** ********* as it relates to incremental public safety spend, spend around education, we're fixing schools with both video security and access control as well.

Education "*** ** ******* ******* *********"

********* ** *** ** the ******* ******* ********* in ********'* ***** *****, security, *** ****** ******* business, *** ******* ****, particularly ****** **** ******* the $*** ******* ******** towards ****** ******* ******* the ******** ****** ****:

***** **$170 ******* ******** ** ****** ******* that runs through September 23. So we've really got a duality of opportunities with education. The biggest opportunity we have with education is in our fixed video, security, and access control business. Simply ***, **'* **** *** ** *** ******* ******* ********* ** **** ********. We not only have a regional sales team, but we have a group of business development vertical specialists that focus and work out with schools on directing funding in those kind of things.

Video/LMR/PCR *********** "****** *****" ** *******

*********** ******* *****, *** (land ****** *****), *** PCR (************ *** ********** radio) *** *********** ** Motorola's "****** *****" ** success, ********'* *** ****:

** * *********, **** I ***** *** ****** sauce *** ** ** to *** **** **** great ******** ** *****, but **** ***integration *** ************* of that with the installed base that we have with thousands of LMR and PCR networks around the world.

******** ******* *** **** integration, **** ** *** company's****** ******************, "*********" **** *********, particularly ** *** ********* vertical:

** **** * ****** reimagine ******** ***** ** that ******** ***** ******** fixed ***** ******** *** PCR *** **** ******* resonates **** ****. ** think ***** *** *** an ********* ** * door ****** *******, ***** a ****** ** * PCR ***** ******* ***** teacher ***** **** *** and *** ***** ** security **** ******** **** schools *** **** **********. And * ***** ********* with *** *********.

Body-Worn ******* ****** ***** **** ****

*** ******* ** ****** share ** *** ****-**** camera ******, ******* **** in ** ****, ******** grew ********* ** ***% or **,*** *****:

** *** **** ** the **** **** *** just ******** ** *** competitor **** *** *********. Theygrew ***** ******** **% ** **, ***** *,*** ***** in an absolute perspective whereby ** **** ****-**** ********* * ***%, ***** ** **,*** *****. So I think that's indicative of the share we've taken.

******** ***** ********* $**.* ******* *** contract** ******* **,*** ****-**** cameras ** *** ****** Ministry ** ******** ** an ******* ** *** company's ******** ** *** body-worm ******.

******** **** ** ***** in ******* ****** ******** ******** *** ******* ** confident ** ** * "competitive, ********** #*" ** the ****-**** ****** ******.

Hikvision *** ***** ***********

******** ******* "**** ***** video *****" ** *****, and **** ********* *** Dahua *** *** ***** leaders ****** *** *******, CEO ***** ************:

** *** *****-**** ***** the *********** ** *** addressable ****** **** ***** we ************ ** ***** 15 ******* ** ** billion *** ****'* ******* out *****, ****.We ****** **** ***** ***** ***** ** *****. I know that Hikvision and Dahua will continue to be the indigenous providers in country.

*******, ******** **** **** compliance *** ******* * "favorable ******" *** *** company ** "****** *** Western ***********":

*** * ***** **** the ****-********** *** *** concern ****** ***** *** vendors ** ******** ******** implementations **** ******* *** afavorable ****** ** **** ** ***** ***** ** ****** *** ******* ***********. So I think it's a tailwind.

*******, ******** ****** ** has ******** *** ************* in *** ****** **** from ******, ************ ** the ****** ********:

****** ********* *** ***** right *** * ***** say **** **** ******* into *** ****** **** and **** *********, **'** got *********** ************* *** to ****** **** ******** directly,we've ********* ***** *** ********* ** ****** ************* ** *** ****** ****.

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