Surveillance Manufacturer Revenue Directory 2011

Author: John Honovich, Published on Nov 27, 2011

In this report, we organize and share annual revenue of 25 leading video surveillance companies. Revenue numbers are often useful for businesspeople and investors to better understand size and relative power of players in a market. That noted, this list should NOT be used for buying decisions or evaluating technology as a weak relationship exists between revenue and product quality.

Companies Covered

Inside, the PRO section, we itemize the annual revenue of the following 25 companies. The links for the companies in the list below go to our most recent analysis of their company's financial performance:

To maximize accuracy, we only listed revenue for companies whose revenue has been been audited and/or validated by government regulations. Often, analysts state company revenue based on rumors or what the manufacturer tells them their revenue is without any external validation. This approach has a high degree of error.

Revenue Rules of Thumb

While revenue can be segmented in numerous ways, here are a some rules of thumbs that can help you estimate and categorize companies:

  • Overall Market Size: General consensus is that the global video surveillance market size is ~$10 Billion USD. This is typically sized based on manufacturer sales and includes neither markup by integrators/dealers nor installation costs. Including all costs, total gllobal surveillance market size is ~$20 - $25 Billion range.
  • Overall Market Growth: General consensus is that overall video surveillance market growth is 5% to 15% per year. The range is broad because (1) the industry is highly dependent on the global economy growth rate, (2) that growth rate has fluctuated significantly since the 2008 recession and (3) projections for China which skew growth rates higher.
  • Company Size: Video surveillance sales for even the biggest companies are under $1 Billion USD annually, ~ 95% of companies are under $100 USD Million and ~50% are under $25 Million USD. The market is highly fragmented and most companies selling surveillance are not selling a lot.

WARNING: Do not use the tables below to rank or rate manufacturers. Revenue gives a rough sense of how big companies are but it is a terrible way to judge if one company is 'better' than another. If you want to know who's 'better', read our Buyer's Guide or the VMS and IP camera favorite reports.

The table below is sorted by revenue in descending order. All numbers are approximations and for the most recent 12 month period revenue was disclosed.

In this grouping, Hikvision is the company that might be the biggest surprise and in greatest need of clarification. While their revenue is very high, recent Hikvision financial reports reveal that 82% of their revenue is from inside of China. Hikvision's international sales are about $120 Million - roughly the size of Verint.

The second table below is for companies that offer video surveillance but do not break down their video surveillance specific revenues. While their revenue cannot be compared to the table above, it's useful to get a rough sense of their overall size in the market.

Get Video Surveillance News In Your Inbox
Get Video Surveillance News In Your Inbox

Company Revenue Year Note Growth
GE Security 1200 2009 Includes all security Down
Tyco Security Products 935 Jun-10 Includes all security Flat
Anixter Security 800 1-Jun Includes all security Moderate
CSST 600 Jun-10 Includes installation Down
Ubiquiti 200 Jun-11 Includes wireless Strong

A few points on these companies:

  • GE Security, now a part of UTC, is big but has been declining significantly for many years. Large player but increasingly a non factor in the surveillance industry.
  • Anixter is a distributor and obviously not a manufacturer but has been growing solidly in surveillance and security for the past few years and is becoming an increasingly powerful player.
  • CSST has a huge amount of video surveillance revenue but the overwhelming majority is for installations within China. It would be greatly misleading to compare this to international product revenue of other manufacturers.
  • Ubiquiti is overwhelmingly a wireless equipment provider for general networking / WISP deployments. However, they already have a non trivial surveillance market share as their wireless networking equipment is likely the most common choice (by unit, not revenue) for surveillance integrators today.

Big Companies Missing

A number of the biggest global surveillance providers are not cited here, including Bosch, Honeywell, Panasonic, Pelco and Sony. We estimate that all of these companies have surveillance specific revenue in the $250 Million to $750 Million range, meaning that they are much bigger than all the companies on the list save for Axis and HikVision.

Small Companies Under-represented

Because this list is derived from publicly disclosed financial records or audited results submitted to 3rd parties, it is skewed to larger, more mature companies. The bulk of the surveillance industry including niche players not mentioned in this list typically generate between $5 to $15 Million in annual revenue. We estimate about 2/3rds of all surveillance companies not listed in the tables above generate between $5 and $15 Million in annual revenues.

Market Segment Trends

From scanning these tables, it is clear that most of the largest companies sell a broad range of products including cameras and recorders. It is not a coincident that most specialists companies cannot break $100 Million in revenue.

Downward Trending Companies

All 3 downward trending companies, that is companies whose revenue is declining by more than 10% per year are traditional analog/CCTV companies. Of the 3, Dedicated Micros and Vicon have been on a continuous downward path for years while March Networks recently experienced a sharp negative drop.

Two IP companies deserve special mention of relative poor performance - ACTi and IndigoVision. While their revenue has been essentially flat over the last year, as specialists in IP only, this far lags the segment norm of 20-30% growth.

Strong Growth Companies

This list continues quite a number of strong growth companies which we define as companies generating 25% or higher revenue. However, this should not meant draw a conclusion that the market overall is growing strongly. On the contrary, there are a number of fast growing IP centric companies - Arecont, Avigilon, Axis, Exacq, Milestone, Vivotek etc. who are clearly taking market share from traditional CCTV incumbents. Now, in 2011, the combination of their increasingly large size (beyond Axis's ~$500 Million, the other 5 companies now combine for ~$250 Million revenue) and their continued sharp growth rate is resulting in a transfer of power from CCTV incumbents to IP specialists.

Acquisitions

While industry luminaries love to talk about the power of acquisitions and the continuous impending consolidation within the industry, these numbers show the reality is the opposite. The market is actually fragmenting even further as IP specialists companies come of age as powerful forces in their own right. The companies that have been acquired in the past few years tend to be companies that struggled to make it on their own - Advasense, Intellivid, ioimage, Keeno, Orsus, Rontal, Vidient, etc. GE Security is huge and did change hands but GE Security lacks innovation in surveillance so it's basically shuffling deck chairs on the Titanic.

It will be interesting to see if the fast growing younger companies eventually get acquired but many of them have already IPO'ed (Avigilon, Axis, Hikvision Mobotix, Vivotek, etc.) so the motivation to sell to Honeywell, Bosch, etc. is much lower. We believe that most acquisitions will continue to be of second tier companies that do not have better options for an exit for their investors.

1 report cite this report:

Manufacturer Revenue / Financials Directory on Jun 05, 2017
This report contains data on the revenue of 32 security manufacturers, trend analysis of whether they are gaining or losing ground and commentary...
Comments : PRO Members only. Login. or Join.

Related Reports

China: Foreign Video Surveillance Is Security Risk on May 25, 2018
The Chinese government has long acknowledged that foreign video surveillance is a 'risk to national security' and has increasingly and almost...
US House Passes Bill Banning Gov Use of Dahua and Hikvision on May 24, 2018
Today, the US House of Representatives passed H.R. 5515, a bill that includes a ban on the US government's use of Dahua and Hikvision. This follows...
Buy Arecont: Top Bid $10 Million Cash on May 22, 2018
Last year, Arecont had a deal for a purchase price of $170 million (see Failed Arecont China Acquisition). This year, Arecont has a deal for a...
Installing Box Cameras Indoors Tutorial on May 22, 2018
This tutorial starts our physical installation for video surveillance series, starting with Box Cameras, one of the oldest and most basic types....
The Hikvision Smart Classroom Behavior Management System on May 22, 2018
Hikvision's rapidly growing offering of analytics, which we most recently examined with Hikvision's ethnic minority analytics, is now going into...
Stealth / UCIT - Remote Video Monitoring Provider Profile on May 18, 2018
Can 2 remote video monitoring companies, Stealth Monitoring from the US and UCIT from Canada combine to impact the market and compete in a changing...
Cybersecurity for IP Video Surveillance Guide on May 18, 2018
Keeping surveillance networks secure can be a daunting task, but there are several methods that can greatly reduce risk, especially when used in...
ADT Stock Drops 50% Since IPO on May 17, 2018
It has been a brutal 4 months for ADT. They first expected to IPO at ~$18. They IPOed at $14, dropping immediately to $12.39 And now, not even...
Worst Manufacturer Technical Support 2018 on May 16, 2018
5 manufacturers stood out as providing the worst technical support to 190+ integrators in new IPVM results. These integrators answered: In the...
Hikvision Source Code Transparency Center Examined on May 14, 2018
Following criticism of Hikvision's Chinese government ownership and Hikvision's IP camera backdoor, the company has responded with a series of...

Most Recent Industry Reports

VMS Server Sizing on May 25, 2018
Specifying the right sized PC/server for VMS software is one of the most important yet difficult decisions in IP video surveillance. In the past...
China: Foreign Video Surveillance Is Security Risk on May 25, 2018
The Chinese government has long acknowledged that foreign video surveillance is a 'risk to national security' and has increasingly and almost...
US House Passes Bill Banning Gov Use of Dahua and Hikvision on May 24, 2018
Today, the US House of Representatives passed H.R. 5515, a bill that includes a ban on the US government's use of Dahua and Hikvision. This follows...
Hanwha Wisenet X Analytics and VMD Test on May 24, 2018
Continuing our updated testing of camera analytics, we tested Hanwha's Wisenet X analytics for over two weeks in multiple scenes, indoors and out,...
Ambitious Mobile Access Startup: Openpath on May 24, 2018
This team sold their last startup for hundreds of millions of dollars, now they have started Openpath to become a rare access control small...
Amazon's "Dangerous New Face Recognition Technology" Says ACLU on May 23, 2018
The ACLU has caused a stir, with a new report Amazon Teams Up With Law Enforcement to Deploy Dangerous New Face Recognition Technology,...
Software Only VMS vs NVR Appliances on May 23, 2018
Should you buy your own PC/server and load VMS software on it or get a turnkey appliance (both hardware and software, e.g., NVR, Hybrid DVR) from a...
Buy Arecont: Top Bid $10 Million Cash on May 22, 2018
Last year, Arecont had a deal for a purchase price of $170 million (see Failed Arecont China Acquisition). This year, Arecont has a deal for a...
Installing Box Cameras Indoors Tutorial on May 22, 2018
This tutorial starts our physical installation for video surveillance series, starting with Box Cameras, one of the oldest and most basic types....
The Hikvision Smart Classroom Behavior Management System on May 22, 2018
Hikvision's rapidly growing offering of analytics, which we most recently examined with Hikvision's ethnic minority analytics, is now going into...

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