Hikvision stays on top in 2016 global market share

Company announces sixth straight year at No. 1 in IHS Markit’s video surveillance market report
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Wednesday, July 5, 2017

CITY OF INDUSTRY, Calif.—Hikvision, a global supplier of video surveillance products and solutions, has announced that it has again achieved the No.1 position in market share for CCTV and video surveillance equipment worldwide in a recent IHS Markit report.

“For the sixth year in a row, IHS Markit has named Hikvision the world's leading supplier of video surveillance products and solutions,” Hikvision USA president Jeffrey He told Security Systems News. “The IHS Markit report … is based on 2016 data. It says that Hikvision has market share of 21.4 percent for CCTV and Video Surveillance Equipment worldwide. That is up from 19.5 percent in 2015.”

He pointed out that IHS Markit also has Hikvision at No.1 for 2016 global market share in the categories of: Security Cameras (24.2 percent), Analogue + HD CCTV Security Cameras (23.9 percent), Network Security Cameras (25.6 percent), and Recorders (25.3 percent).

“This recognition is important to us, as it highlights our continued commitment to the market and to our valued customers,” said He. “Our success depends on how well we support our partners and how happy they are with our products and services. We are clearly moving in the right direction, and the organic market share growth is the market validation of our efforts.”

In the North American market, Hikvision achieved 8.5 percent market share, “which is the No. 2 position,” He explained. “However, if we take into consideration our OEM business, our combined market share is actually even higher.”

He pointed out that Hikvision has ambitious growth goals and is continuing to build up its internal infrastructure in the region by adding the right resources to support its growing customer base.

“To put things in perspective for you, in 2012 we had 42 employees in our North American organization,” said He. “In 2014, we had just under 100 and this year we will have more than 400 professionals on our team here. By 2022, we plan to have over 800 employees in the region. We are committed to contributing to the economy and social space in the U.S. and Canada. We continue to add jobs and lead multiple effective social responsibility programs on the local and national levels.”

The company is also planning the grand opening of its Canadian headquarters, including the Research and Development Centre in Montreal, for the middle of September of this year.

“Over the next few years, we plan to have more than 100 research and development engineers based in Montreal,” noted He. “Additionally, in January 2018, we are adding new training and product showcase facilities to our existing Miami location, which already handles logistics for a large part of the North American region and South America.”