According to MarketsandMarkets' newest market research report, the global Physical Security Market is expected to grow from USD $65.41 Billion in 2015 to USD $105.26 Billion by 2020, at a CAGR of 9.98% from 2015 to 2020.
According to MarketsandMarkets' newest market research report, the global Physical Security Market is expected to grow from USD $65.41 Billion in 2015 to USD $105.26 Billion by 2020, at a CAGR of 9.98% from 2015 to 2020. The video surveillance segment is expected to be dominating the Physical Security Market. Latest developments regarding latest product advancements, recent reporting of financial results and new projects in the security sector today are led by DirectView Holdings, the
ADT Corporation, Tyco International, GoPro and
FLIR Systems.
DirectView Holdings, a company focused on ownership and management of leading video and security technology companies, today announced the Company has received an initial purchase order from a New York based construction management company to install comprehensive surveillance, access control and communications systems at an office building located on Park Avenue. The installation is part of a complete building renovation project and will include multiple megapixel IP camera arrays, NVR's, VMS, card access control systems and a security communications network. The initial purchase order is valued at approximately $300,000 and the Company anticipates completing the installation by the end of 2015. DirectView is also contracted to provide warranty and support services on different aspects of the installation ranging from a period of two to ten years. The project site is comprised of two office buildings and Company looks forward to the potential of additional surveillance business opportunities as future planned renovations take place and new tenants lease spaces.
Roger Ralston, CEO and Board Chairman of DirectView, said, "We are very excited to have been selected to provide these systems for this prestigious Park Avenue project. In winning this business we competed against some very large local and national companies and gained an excellent opportunity with a major construction management company in New York for future business opportunities. We look forward to completing this installation and forging a long standing relationship with building management as we continue to gain momentum in our security and surveillance business."
In other security services and camera products news and happenings: ADT Corporation recently release 3rd Quarter Results for 2015 noting Strong Revenues, Increases Gross Additions, Improves Retention and Lowers Subscriber Creation Multiples Launches Commercial Integration with Nest and New ADT Pulse App. "We delivered our sixth consecutive quarter of improving operational metrics and solid financial results," said Naren Gursahaney, ADT's CEO. "Our plan called for reduced attrition, lower SAC, higher gross adds, and we are delivering on these key elements. We remain committed to investing in quality growth initiatives and aligning with the right partners to drive long term value for ADT."
Tyco International also recently released 3rd Quarter Results reporting $0.44 in GAAP diluted earnings per share (EPS) from continuing operations for the fiscal third quarter of 2015 and diluted EPS from continuing operations before special items of $0.59. Revenue of $2.5 billion in the quarter decreased 6% versus the prior year, primarily due to a 7% negative impact of the stronger U.S. dollar against foreign currencies. Organic revenue declined 1% in the quarter. Acquisitions contributed 2 percentage points of growth, which was partially offset by the impact of a divestiture. "While we were disappointed with our top-line growth, we once again demonstrated our ability to leverage and accelerate internal productivity and cost containment initiatives to deliver on our earnings commitment for the quarter," said Tyco Chief Executive Officer George R. Oliver. "We produced strong margin expansion of 90 basis points, driven by an improvement in fundamentals in our North America Installation & Services business. That, combined with additional restructuring actions, position us well to achieve 12% to 13% EPS growth for the year," Mr. Oliver added.
GoPro, maker of the world's most versatile camera and enabler of some of today's most immersive and engaging content, recently announced financial results for its second quarter ended June 30, 2015. "I couldn't be more proud of our aggressive pace of innovation. With the introduction of HERO4 Session and HERO+ LCD, we've launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results," said GoPro Founder and CEO, Nicholas Woodman. "Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets." GoPro reports gross profit, operating expenses, operating income (loss), net income (loss) and diluted net income (loss) per share in accordance with U.S. generally accepted accounting principles (GAAP) and on a non-GAAP basis. Non-GAAP net income excludes, where applicable, the effects of stock-based compensation, acquisition-related costs, and the tax impact of these items. Additionally, GoPro reports non-GAAP adjusted EBITDA. A reconciliation of preliminary GAAP financial measures to non-GAAP financial measures, as well as a description of items excluded from the calculation of non-GAAP financial measures is presented in the financial statement portion of this release.
FLIR Systems announced that last week Amit Singhi has joined the Company as Senior Vice President, Finance, and Chief Financial Officer, replacing interim CFO Dave Muessle, who will remain Vice President, Corporate Controller and Principal Accounting Officer. Reporting to CEO Andy Teich, Mr. Singhi will oversee FLIR's global finance organization, with responsibility over financial management, reporting, controls, planning, and strategy. Mr. Singhi most recently led the finance organization of Ford Motor Company's Global Customer Service Division. Previously, Mr. Singhi was CFO of Ford South America which was preceded by several global finance, operational, and R&D positions at Ford and General Motors. He holds an M.B.A. and an M.S. in Electrical Engineering Systems from the University of Michigan, and a Bachelors of Technology in Electrical Engineering from the Indian Institute of Technology.