HIKVISION has announced the company’s financial results for the year ending December 31st 2014, achieving revenues of $US2.82 billion. The company has continued its extraordinary growth rate in 2014, increasing sales of $1.76 billion in 2013 by 60 per cent. 

The company has achieved a CAGR of 56 per cent from 2004 to 2014 and firmly entrenched itself as the global leader in CCTV, more than double the size of its nearest competitor. 

Most impressive of all, Hikvision’s net profit of 25 per cent will facilitate staggering R&D investment of over $190 million in 2015, ensuring the company will continue to set benchmarks for the industry.

“Hikvision’s investment in R&D is the critical element which has allowed the company to rewrite industry standards on what is achievable,” says Hikvision Oceania’s sales director, Michael Bates. “Hikvision will continue to surge ahead in 2015 with some very exciting new technologies and products and a focus on increasing our penetration into the project market.”

In further news, Hikvision has been ranked as one of the 3 leading companies in the global security market in A&S 2014 Security 50. 

“Locally, the Hikvision Oceania office has now been up and running for just over 12 months and we are very proud that our regional growth will be over 100 per cent for the year ending December 2014,” said Bates.♦