Security

Chinese Video Surveillance Giants Report Strong Overseas Sales Growth in H1 2022

In this Research Note, we examine the half-year financial results, ending 30th June 2022 for the major Chinese video surveillance giants, Hikvision (Hangzhou Hikvision Digital Technology Co., Ltd.) and Dahua Technology (Zhejiang Dahua Technology Co. Ltd.) in the context of previous results, their overall strategies, growth and Memoori market analysis. This Note is based on company financial reports for the half-year 2022, 2021 Annual Reports and Memoori’s latest report on the Physical Security Business 2021 to 2026. The world’s two leading manufacturers of video cameras, Dahua and Hikvision alone generated revenues of over $16.7 billion in 2021. The average selling price of cameras is significantly lower in China than in other markets due to intense price competition, meaning that on a unit basis, China is deploying more cameras annually than the US and more than the rest of the world combined. So much so, that China is rapidly catching up with the US and Europe in terms of penetration stated in […]

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