According to SDM Magazine, 90% of the dealers it spoke to in the video surveillance market have high expectations for a good, very good or even excellent year. SDM Magazine further notes that greater adoption of IP and increased migration to IP from analog have been the key drivers behind growth in the video segment.
SDM Magazine also notes in its report that security cameras have accounted for the bulk of equipment revenues. Citing research from IHS, SDM Magazine further notes that the trend is expected to continue.
The market for video surveillance is expected to reach $25.6 billion by 2018, according to IHS. In this period, network-based equipment is expected to replace analog as the predominant technology choice for video surveillance systems, the IHS notes. By 2018, network-based equipment is expected to account for three-quarters of the $25.6 billion video surveillance market, the IHS adds.
The outlook for the video surveillance market augurs well for Gatekeeper Systems Inc. (TSX-Venture:GSI), a Canada-based company providing total mobile security solutions to more than
3,500 customers and has installations in every state and province in North America.
This morning, Gatekeeper Systems announced that it has filed its financial statements and discussion and analysis for the fiscal year ended August 31, 2015.
In the fourth quarter of fiscal 2015, GSI registered 70% revenue growth on a sequential basis. The company’s revenue for the quarter was $2.47 million for the fourth quarter, up from $1.45 million reported in the previous quarter. The company’s revenue for the fiscal year 2015 rose 47% to $5.94 million.
GSI reported gross profit of approximately $1.17 million, up from $623,911 reported in the previous quarter.
GSI noted that the 47% increase in fiscal 2015 revenue was due to the company executing on its business development strategies and momentum of its solid state mobile video system as well as introductory sales of its high definition video systems. The company further noted that the school bus market continues to be its main revenue generator with new sales coming from the law enforcement, transit, general fleet vehicles and airborne defense.
During the fiscal year, GSI received approximately $535,000 in purchase orders for its new high-definition mobile video systems.
The company also received new order for Viperfish airborne digital video recorders for AC130 gunships.
In addition, GSI also launched a new body camera to the law enforcement market and signed new strategic reseller partner agreement with SunGuard Public Sector Inc.
