VIVOTEK announces that it is aggressively looking to double its revenue in two years. The company is growing at the rate of 30% year-on-year. The stellar growth is primarily driven by factors such as Smart City development.
VIVOTEK’s key focus areas in the Indian market are two pronged- both solution as well as product oriented. The vertical markets where the company has a major play in, includes Transport and highways, Smart City Projects, Retail Market, Industrial Market and Hospitality Industry among others.
Commenting on the future roadmap that the company is strategically looking at, Sanjeev Gulati, India and SAARC Country Manager, VIVOTEK Inc., commented, “In India, burgeoning terrorist attacks, increasing occurrences of crime, data thefts, remote monitoring, development of public infrastructure, increasing IT spending, government initiatives and increasing security spending is driving the IP surveillance market in way hitherto unforeseen. The procurement of security surveillance products have become a lot easier, if compared to traditional modes. Also, Tier 1, 2, 3 and even Tier 4 cities and towns are displaying stupendous growth and they represent an important market for us. Initiatives like the ‘Make in India’ and 100 smart cities will give the IP surveillance industry a major fillip to move in the right path. These are the dominant trends we will be leveraging to our advantage.”