Bogus Research Plus Lazy Reporting - SSI And 'Global Market Insights' Examined

By: John Honovich, Published on May 07, 2018

If you wonder why there is so much obviously wrong information online (factually, not simply disagreeing on opinions), this is a great example of the process.

SSI publishes an 'article': IP Security Camera Market to Grow at 20% CAGR, 2017-2024, Report Says, with the following byline:

The 'article' is copied from this press release by a company named 'Global Market Insights', who lists their 'global headquarters' in the USA:

To which Google maps returns:

But their LinkedIn profile shows 169 employees, only 3 in the US and almost everyone else in India, despite again emphasizing the US. 

There is something strange there but that is just the start.

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Once you start looking at the actual 'research', you notice obvious mistakes, e.g.:

VideoIQ, acquired by Avigilon more than 4 years ago, is a company they are covering in their new for 2018 report:

And Toshiba, a company who shut down their security / surveillance business last year, is a company they are also covering:

The problems continue when reviewing their IP Camera Sample Report, e.g., they estimate PTZs as more than a 1/3rd of all camera revenue in 2016, which is far too high:

 

And Infrared is a puzzling category, as they sometimes define it as illumination (which makes little sense separating from fixed) and other times as thermal (which also would be far too high) but then they omit FLIR from the report, the historical leader in thermal.

This 'research' firm shared the section on Axis which consisted of:

These 5 'sections' are just 2 pages. Here is their entire 'strategic outlook' and SWOT Analysis for Axis:

It is a very poorly done recap of a limited number of Axis press releases and nonsensencial SWOT analysis (e.g., the 'negative investment in R&D', considering Axis strong increase and high overall R&D plus no mention of their very real threat from Hikvision, China, etc.)

And the product landscape section is just Companion, omitting the other dozen or so lines that Axis offers and that Companion is Axis only closed offering targeted at SMB:

Axis was the only manufacturer section they shared but given this approach, their 'coverage' of VideoIQ and Toshiba, it should be no surprise how poor the other sections will be.

But the firm has vast numbers of reports, including, just from today, Mobile PoS, Bucket Trucks and Power transmission lines:

 

Why It 'Works'

The trade magazines do not want to spend the time and money to do their own reporting (SSI is too busy doing slideshows on pens and blowing up batteries). These 'research' firms have low-cost, non-experts, google and poorly put together various publicly available information and sell it as 'reports' for thousands of dollars:

 

The 'research' firms write free press releases with big claims (e.g. "IP security camera market is forecast to exceed $20 billion by 2024"). Trade magazines and other companies too lazy to do simple fact checking or research on their own, copy it. 

Ironically, this firm claims their methodology is:

At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry.

It may be the 'most' at something but accurate it is not. However, they do admit one point that may explain their errors:

The research process begins with extensive data mining, using authentic sources such as trade magazines

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