Video Security Market Analysis - Follow-Up

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Video Security Market Analysis (1)

Key Takeaways

  • Johnson Controls International offers a range of video surveillance solutions for homes and businesses like video surveillance and monitoring systems, video analytics systems, and managed video solutions that it sells under the "Tyco Security Products" brand name. Being a private entity and a subsidiary of JCI, Tyco Security Products has not revealed its annual revenue in the public domain. However, Growjo estimates that the revenue of Tyco Security Products is $70.3 million. Hence, JCI's market share in the $49.21 billion global video security market is 0.143%.
  • Konica Minolta also provides intelligent and smart video security solutions like security cameras, thermal cameras, and cloud solutions. Konica Minolta provides these solutions under the Mobotix brand name, the "German surveillance camera company" that it acquired in 2016. In FY 2019-20, Mobotix's revenue was €70.4 million ($85.86 million). Hence, Konica Minolta's market share in the $49.21 billion global video security market is 0.18%.
  • In FY 2020, Alarm.com recorded a total revenue of $618.003 million. Hence, its market share in the $49.21 billion global video security market is 1.256%.
  • In FY 2019 (the latest publicly available annual report), D-Link recorded a total revenue of TWD 16.996 billion. Upon currency conversion (1 USD = 30.11 TWD), D-Link's revenue in FY 2019 comes out to be US$564.46 million. Hence, its market share in the $49.21 billion global video security market is 1.15%.
  • Being a private entity and a subsidiary of several companies over the years, Pelco has not revealed its annual revenue in the public domain. However, Growjo estimates that Pelco's annual revenue is $95.4 million. Hence, its market share in the $49.21 billion global video security market is 0.194%.

Introduction

The original report has established that the size of the global video security market was $49.21 billion in 2020 with a CAGR of 14.6%. Also, the revenues and market shares of the top-20 competitors in the original report are as follows:
Hikvision: revenue = $9.95 billion (market share = 20.21%).
Dahua Technology: revenue = $4.06 billion (market share = 8.25%).
Bosch Security And Safety Systems: revenue = $2.32 billion (market share = 4.72%).
Flir Systems Inc. : revenue = $1.924 billion (market share = 3.91%).
Axis Communications (Canon Inc.): revenue = $1.2 billion (market share = 2.44%).
Geovision: revenue = $1.157 billion (market share = 2.36%).
Tamron: revenue = $1.026 billion (market share = 2.09%).
Infinova: revenue = $795.70 million (market share = 1.62%).
Uniview Technologies: revenue = $715 million (market share = 1.45%).
Tiandy Technologies: revenue = $620.01 million (market share = 1.26%).
Hanwha Techwin: revenue = $498 million (market share = 1.01%).
IDIS Global: revenue = $400 million (market share = 0.81%).
TVT Digital Technology: revenue = $393.5 million (market share = 0.80%).
CP Plus: revenue = $229.95 million (market share = 0.47%).
Vivotek Inc.: revenue = $199.772 million (market share = 0.41%).
Megvii Technology: revenue = $193.6 million (market share = 0.39%).
Milestone Systems: revenue = $166.6 million (market share = 0.34%).
Raysharp: revenue = $144.22 million (market share = 0.29%).
March Networks Corp: revenue = $100 million (market share = 0.20%).
Mobotix Ag: revenue = $85.86 million (market share = 0.18%).

The revenues and market shares of five new competitors, namely Johnson Controls International, Konica Minolta, Alarm.com, D-Link, and Pelco are presented in the below research report.

Company Market Shares

JCI/Tyco

  • "Johnson Controls, a global multi-industrial company, and Tyco, a global fire and security provider, have combined to create Johnson Controls International plc, a global leader in building products and technology, integrated solutions and energy storage."
  • Johnson Controls International (JCI) develops, manufactures, and sells a wide variety of HVAC equipment, building automation and control products, security products, fire detection and suppression products, digital solutions, industrial refrigeration, residential and smart home products, retail solutions, distributed energy storage products, and oild and gas products.
  • Johnson Controls International offers a range of video surveillance solutions for homes and businesses like video surveillance and monitoring systems, video analytics systems, and managed video solutions. Its cutting-edge video surveillance products include IP cameras and accessories, encoders, network video recorders, monitors, and "network and digital video storage" systems, among others. Johnson Controls International sells these products and solutions under the "Tyco Security Products" brand name.
  • Some companies under the "Tyco Security Products" umbrella that deal in video surveillance products and solutions are Tyco American Dynamics, Tyco CEM Systems, Tyco Exacq Systems, Tyco Illustra, Tyco Kantech, Tyco Software House, and Cloudvue, among others.
  • In FY 2020, Johnson Controls International recorded a total revenue of $22.317 billion. However, this revenue comprises sales from all of JCI's products and services, including the video security products and solutions that are sold under the umbrella of Tyco Security Products.
  • Being a private entity and a subsidiary of JCI, Tyco Security Products has not revealed its annual revenue in the public domain. However, Growjo estimates that the revenue of Tyco Security Products is $70.3 million. Hence, JCI's market share in the $49.21 billion global video security market is 0.143% (Calculation: $0.0703 billion/$49.21 billion = 0.143%). JCI comes after Mobotix AG (also Konica Minolta) in the competitor list mentioned in the original report.

Konica Minolta

  • Konica Minolta is a Tokyo-headquartered technology company that develops, manufactures, and sells office business and print business products like multifunction printers, consumables, and digital printing systems, healthcare business products like diagnostic imaging systems, and industrial business products like OLED lighting, functional film displays, lenses, and industrial inkjet printheads.
  • Konica Minolta also provides intelligent and smart video security solutions like security cameras, thermal cameras, and cloud solutions. Konica Minolta provides these solutions under the Mobotix brand name, the "German surveillance camera company" that it acquired in 2016. However, the video security solutions represent a small part of the sales of Konica Minolta.
  • In FY 2020, Konica Minolta recorded a total revenue of 996.101 billion yen (US$9.153 billion). However, this revenue comprises sales from all of Konica Minolta's products and services, including the video security solutions that Konica Minolta sells under the Mobotix brand name.
  • In FY 2019-20, Mobotix's revenue was €70.4 million ($85.86 million). Hence, Konica Minolta's market share in the $49.21 billion global video security market is 0.18% (Calculation: $0.08586 billion/$49.21 billion = 0.18%). Considering that Mobotix AG is a subsidiary of Konica Minolta and the parent company sells all its video security products under the brand name of Mobotix, the place of Konica Minolta has already been established (i.e., same as Mobotix AG's) in the competitor list mentioned in the original report.

Alarm.com

  • Alarm.com provides smart and dependable video monitoring, security, and automation solutions for homes and businesses. In the video monitoring segment, Alarm.com offers solutions for live and recorded videos, video alerts and notifications, "24/7 HD recording through the stream video recorder (SVR)," and WiFi-enabled doorbell cameras.
  • In FY 2020, Alarm.com recorded a total revenue of $618.003 million. Hence, its market share in the $49.21 billion global video security market is 1.256% (Calculation: $0.618 billion/$49.21 billion = 1.256%). Alarm.com would come just after Tiandy Technologies in the competitor list mentioned in the original report.

D-Link

  • D-Link is a Taiwan-headquartered "global leader in designing and developing networking and connectivity products for consumers, small businesses, medium to large-sized enterprises, and service providers." In the video security and surveillance segment, D-Link offers a wide range of security cameras, camera accessories, and network video recorders (NVRs) for homes and businesses.
  • In FY 2019 (the latest publicly available annual report), D-Link recorded a total revenue of TWD 16.996 billion. Upon currency conversion (1 USD = 30.11 TWD), D-Link's revenue in FY 2019 comes out to be US$564.46 million (Calculation: TWD 16.996 billion/30.11 = USD 564.46 million). Hence, its market share in the $49.21 billion global video security market is 1.15% (Calculation: $0.564 billion/$49.21 billion = 1.15%). D-Link would fall between Alarm.com and Hanwha Techwin in the competitor list mentioned in the original report.

Pelco

  • "Pelco is a global leader in the design, development, and manufacture of predictive video security solutions, including video surveillance cameras, video management and recording systems, security software, and aligned services." Pelco offers a host fixed, panoramic, explosion-proof, pan tilt and zoom, thermal, and fortified IP network, analog, and specialty security cameras, customizable and software-based video management solutions, video accessories, and technologies for video security and surveillance.
  • Schneider Electric owned Pelco between 2007 to 2019. Pelco was then purchased by Transom Capital in 2019 for an undisclosed amount. In August 2020, Motorola Solutions acquired Pelco from Transom Capital for a sum of $110 million.
  • Being a private entity and a subsidiary of several companies over the years, Pelco has not revealed its annual revenue in the public domain. However, Growjo estimates that Pelco's annual revenue is $95.4 million. Hence, its market share in the $49.21 billion global video security market is 0.194% (Calculation: $0.0954 billion/$49.21 billion = 0.194%). Pelco would come just after March Networks Corp in the competitor list mentioned in the original report.

Research Strategy

For finding the revenues of the five companies in the research report, we leveraged their internal annual reports and external databases like Growjo wherever the figure was not disclosed by the company. For finding the products and solutions that these companies sell in the video security and surveillance industry, we leveraged the respective websites of these companies. Since JCI and Konica Minolta are MNCs whose video security and surveillance segments constitute a small portion of their respective companies, considering the total revenue of these companies would not have yielded a correct comparison with the other three companies, namely Alarm.com, D-Link, and Pelco that operate only in the video security and surveillance industry. Hence, we have only considered the video security and surveillance segments of JCI and Konica Minolta and their respective annual revenues for calculating their market shares in the said industry.
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