2015 was positive for the security industry. In spite of economic volatility in many regions, the industry grew robustly throughout the year. Although a few countries went into recession, it did not negatively impact key players.
We knew cameras with multiple sensors would do well; however, the rate at which these devices increased in availability was somewhat unexpected. The Avigilon HD Multisensor brings increased value because it uses multiple independently adjustable sensors for wide coverage in a single platform. What used to be a niche segment of the market has now gained considerable traction. In line with the need for wider coverage at higher resolutions, Avigilon also introduced the industry’s first, single-sensor 7K camera. The 7K’s wide area coverage, high image quality and ability to provide clear, evidentiary detail made this release impactful.
Innovative solutions and wider applications
Looking ahead to 2016, we believe that companies with comprehensive solutions with embedded intelligence will dominate the business. This requires a dedicated focus on innovation in intelligent solutions rather than specific products. 2016 will involve not only digitising the physical world, but also in understanding it with applications that go beyond the realm of security into business intelligence to generate actionable insights. This is the way of the future.
At Avigilon, business is strong. We recently reported our 31stconsecutive quarter of year-over-year growth and we’ve done it profitably. Our nine months year-to-date revenue in 2015 increased 36% and looking ahead we are on track to achieve our publically stated goal of $500 million in annual run rate revenue by the end of 2016.
Avigilon recently conducted a survey* showing that 58% of organisations cover 50% or less of their valuable assets with video surveillance. An array of possibilities is afforded when video surveillance data is effectively mined and this begins with video analytics. Overall, in contrast to other industries, the security market has strong growth with many exciting innovations taking place.
*This data is the result of a survey conducted with Forbes and published in Forbes Insights.
See the full coverage of 2015/2016 Review and Forecast articles here