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In this Research Note, we examine Paxton Access, the UK-based private company manufacturing electronic IP access control and video door entry solutions. This article is based on their 2024 company accounts and press releases, updating our previous coverage of the company in December 2023. Paxton Company Profile Founded in Brighton, UK in 1985, Paxton has grown from a small start up into a global security technology manufacturer, employing 395 and exporting to over 60 countries. They develop and manufacture intelligent security systems with companion apps that simplify secure access control. Paxton’s core systems include: Net2 – advanced networked PC-based access control. Paxton10 – a unified platform combining access control and video management. Entry – a video intercom system that can open doors with a smartphone. PaxLock – battery-powered electronic door handles for simple, wireless installations. These systems are supported by four companion apps: Connect app – remote administration of systems from anywhere worldwide. Key app […]

In this Research Note, we explore what’s behind the recent announcement of Honeywell’s acquisition of Li-ion Tamar, examining the development of the lithium-ion battery gas detection business by Nexceris. We then assess the Fire & Life Safety product offering of Honeywell Building Automation and their solutions for the data center vertical market, enhanced by the recent acquisition. Li-ion Tamar Profile Established in 2010, Li-ion Tamer technology was first developed by  Nexceris, LLC  with support of the U.S. Navy to improve the safety of lithium-ion battery installations onboard ships. Since then, the technology has evolved into advanced detection solutions for large-format energy storage systems, electric vehicle systems, and data centers. Li-ion Tamer uses advanced sensing technology to detect off-gassing — an early indicator of battery failure — providing facilities up to 30 minutes’ warning before a thermal runaway event. This lead time can be crucial in preventing full-scale battery fires that can otherwise destroy entire systems. […]

In this Research Note, we examine the Axis Communications video surveillance business. This analysis is based on Axis Communications 2024 Sustainability Report published in June 2025, Canon 2024 Financial Results Presentation, published 30th January 2025, and Memoori analysis. Founded in 1984 with headquarters in Lund, Sweden, Axis Communications offers products and services for video surveillance and analytics, access control, intercom and audio systems. Axis has around 4,879 employees with a presence in 50 countries, over 30 Axis Experience Centers, and partners in 179 countries. Canon Group Ownership Since 2015, Axis has been a part of the Canon Group and is a major contributor to Canon’s video surveillance business. In the Imaging group, Canon Network Cameras & Others business line reported 357.5 billion yen (around $2.27 billion) in 2024, +12.8% revenue growth compared to 2023. Canon commented that in its network cameras business line, despite concern that economic slowdown would limit infrastructure and other investment, the […]

This Research Note examines the fire detection and suppression businesses of Halma plc, part of the Safety Sector of the UK public company.  This analysis is based on financial releases, investor presentations, year ending 31 March 2025, announced on 12th June 2025, and Memoori analysis of the major companies and estimated revenue mix of the Fire Safety subsector, including previous coverage of Halma. Halma Safety Sector Halma is a group of nearly 50 small to medium-sized specialist technology companies. 21 companies are part of Halma’s Safety sector, protecting people, assets, and infrastructure in commercial, industrial, and public spaces. The Safety sector has 4 sub-sectors, Public Safety, Fire Safety, Worker Safety, and Infrastructure & Asset Safety. The sector accounts for 40% of group turnover.  In FY 2025, sector revenue of £902.0m (2024: £823.8m) was 9.5% higher than in the prior year. Revenue growth on an organic basis was 7.7%, which was supported by a healthy order book and […]