Hikvision is now market leader in terms of the percentage of market share of IP cameras it sells, according to a new IHS report.

Hikvision has 18.9 per cent of the global network security camera market, up 5.9 percentage points over the Hangzhou-based camera manufacturer's previous numbers of 13 per cent, IHS said.

For the fourth year in a row, Hikvision took the number 1 spot for the global video surveillance market, with a 16.3 per cent of the international CCTV and video surveillance market, according to IHS. Year on year, Hikvision's revenues are up 50 per cent over last year, more than doubling Hikvision's overall marketshare of 2 years ago, according to IHS.

The IHS report also indicates the company’s efforts in the overseas market over the years by ranking it as No. 2 in the CCTV and video surveillance equipment category in the EMEA market, achieving a 9.2 per cent market share.

According to Cynthia Ho, Hikvision VP, the strong performance can be attributed to the company’s continuous R&D innovation and investment.

"We are very pleased to see Hikvision's rankings in CCTV and video surveillance equipment,” said Ho. “Importantly, we move forward with the rapid developing market trends of IP surveillance which benefits us the great achievements in IP product segments.” ♦