Hikvision, global leader in innovative video surveillance products and solutions, has announced revenues of US$2.82 billion for the financial year 2014.

This corresponds to a 60.37% growth rate year on year and a compound annual growth rate over the last decade of 53%.

“Hikvision’s continued growth is attributable to our product innovation capability and complete product and integrated vertical solution offerings, as well as the expanding global service network. Keeping in touch with market trends, Hikvision has made stupendous achievements in both domestic and overseas markets in the last year,” says Cynthia He, vice president at Hikvision. “In 2014, Hikvision invested 8% of its annual revenue into research and development. Looking to the future, we will continue to devote our R&D efforts into delivering innovative products and vertical solutions that fulfill the ever-changing needs of the security industry, in the belief that we are ideally placed to provide a complete video surveillance solution to the market globally.”