Hikvision replaces Honeywell as the world Number 1

After years of effort invested in improving product quality and technical support, Hikvision has become an end-to-end video surveillance supplier, with products tailored for all kinds of markets and verticals for security. Now, its subsidiaries and branch offices are quite widespread in all the major countries in each continent. The past five years were the fastest growing years for the company in terms of globalisation.

Hikvision, and rival Dahua have accelerated price competition in the global security industry.

Honeywell dropped to 2nd place on the top 50 list, based on revenue coming from both its fire safety and security products/systems businesses. The spin-off Honeywell Security & Fire is now under the company’s automation and control solutions. With this change, the company can leverage more resources and focus on some verticals, such as building automation. “Honeywell already manufactures many of the products and systems that help to manage a building, from the fire and security systems through to the HVAC and building management systems.

Bosch Security Systems ranks third, remaining in the same spot it claimed in last year’s Security 50. The company relied on its multiple innovations in technologies such as updated video and access control management software, low-light imaging, and its strength in building automation to gain a record growth of 10 percent in 2015. Earlier this month, Bosch announced it will join forces with Sony in 2017 to either look for further development in the security industry or IoT businesses.

Axis Communications also enjoyed record growth for 2015 despite challenges in some emerging countries such as China, Russia and some European countries. The company intends to expand its product portfolio beyond video surveillance to provide integrated systems for its customers.

The video surveillance suppliers in the top 10 list remained very strong in maintaining its annual growth.