Hikvision Lifts Oceania Revenues 114 Per Cent
Hikvision, the world’s largest CCTV manufacturer, has had an outstanding Q3 in the Oceania Region with revenues of US$4.65million in the 3 months to September 30. The company’s YTD revenue is up 114 per cent on 2013.
“The bulk of our growth in the past 12 months has been achieved with sales of our Easy IP range, but the last 3 months have seen our Smart IP range making strong inroads into the project market”, said Michael Bates, Hikvision Oceania sales director.
“I believe the market is responding to the quality and value of our product range, as well as to the outstanding efforts of our key distribution partners in the region – CSD in Australia and Atlas Gentech in New Zealand.”
Bates is forecasting 2015 growth to be around 60 per cent, a mind-boggling number for most CCTV manufacturers, but in line with Hikvision’s global forecasts.
“Hikvision globally has achieved 58 per cent CAGR (Compound Average Growth Rate) for the last 10 years (2004-2013) and that rate shows no signs of slowing,” said Bates.♦