2015 was a growth year for VIVOTEK. This year, the IP video equipment provider seeks to sustain that growth by adopting a strategy stressing product diversification, service localization, and global partnership.
2015 was a growth year for VIVOTEK, which reported total sales revenue of US$111 million between January and November, an 8.93 percent increase compared to the same period in 2014. Gross profit margins for the first, second, and third quarters were 44 percent, 43 percent, and 44 percent, respectively. This year, the IP video equipment provider seeks to sustain that growth by adopting a strategy stressing product diversification, service localization, and global partnership.
In terms of product diversification, VIVOTEK plans to offer more cutting-edge products for customers from different markets. With compression technology gaining further importance in the era of high-definition video, VIVOTEK will widen its H.265 line by adding an IR speed dome camera, a panoramic fisheye camera, and new H.265-compatible NVRs. VIVOTEK will continue to optimize its Smart Stream II technology, which, when combined with H.265 products, enables bandwidth and storage space reduction by as much as 80 percent compared to H.264. Further, VIVOTEK’s mobile app enables monitoring and control from anywhere with any device.
Meanwhile, for the retail and transportation verticals, VIVOTEK plans to roll out intelligent IP cameras that can, when combined with software on the backend, provide detailed analysis of data to help users achieve better security and business optimization. For small and medium businesses, VIVOTEK will also launch cameras that are high-quality and competitively priced.
In terms of service localization, VIVOTEK set up a Dubai office last year. This year the company will continue to establish overseas operations and hire local business development managers to expedite local service and respond to local needs more quickly. It will also hold various events in local markets to deepen relations with customers and promote the VIVOTEK brand value.
As for global partnership, the company will work with other partners from Asia to test products before launch, making the needed adjustments based on market reactions. Further, the company will continue to work with its VIVOTEK Application Development Platform partners from all over the world to enhance product offerings and further satisfy demands from different sectors.
Following last year’s growth, VIVOTEK wants to keep going in 2016 by offering more products, expanding its presence across the globe, and strengthening collaboration with international partner. With IHS forecasting the global video surveillance equipment market to grow at a compound annual growth rate of 12 percent from 2013 to 2018, VIVOTEK’s role in this market and growth prospects in the future are not to be ignored.
Product Adopted:Others