Motorola Solutions has acquired Videotec S.p.A., a global provider of ruggedized video security solutions based in Italy.

Videotec’s fixed and Pan, Tilt and Zoom (PTZ) cameras are designed to withstand the extreme conditions and hazardous environments of critical infrastructure, specifically ports, energy and transportation, where video security is imperative. Videotec’s portfolio enables security operators to have clear visibility across these settings to quickly detect and respond to abnormal events or dangerous situations, reducing safety threats and supporting business continuity.

“Protecting the security and operational continuity of critical infrastructure is vital to our cities and businesses,” said Greg Brown, chairman and CEO, Motorola Solutions. “With Videotec’s specialized suite of cameras, we’re extending the breadth of our portfolio to help secure and support the demanding environments of these complex, essential industries.”

The acquisition of Videotec complements Motorola Solutions’ line of fixed video cameras, expanding its portfolio and reinforcing the company’s position as a global leader in video security solutions.

“We’re excited to join Motorola Solutions, bringing our technical expertise in extreme environment camera design to continue driving their mission as a global leader in video security,” said Alessio Grotto, CEO, Videotec. “Together we will continue to innovate technologies that stand up to some of the most challenging conditions – protecting people, enabling productivity and supporting business continuity for essential industries around the world.”

Terms of the transaction were not disclosed.

Hikvision, an IoT solution provider with video as its core competency, has extended its global warranty on premium project products to 5 years. The new, 5-year warranty will further support Hikvision customers with easy project maintenance and increased cost efficiency.

A wide range of Hikvision product lines are covered by the new, 5-year warranty, including Hikvision Panoramic network cameras, Deepinview and Ultra Series cameras, Deepinmind and Ultra Series NVRs; and a number of explosion-proof and anti-corrosion cameras.

The newly extended warranty will apply automatically for all premium project orders shipped from Hikvision to the original buyer from 1st January 2022. It will also apply in all countries worldwide.

Trust for the long term

The new 5-year warranty provides even greater peace of mind and cost-control assurances for Hikvision customers, further extending confidence in Hikvision products and brand.

Frank Zhang, President of Hikvision’s International Product and Solution Center, says: “We are committed to delivering superior product quality and service to our customers, and the new 5-year warranty is the proof. The extended warranty gives our customers an assurance of quality and reliability, which translates into peace of mind, cost transparency, and a stronger, longer-lasting partnership with Hikvision.”

Hikvision has set up a global, three-tier network of after-sales service centres worldwide to support the new, 5-year warranty on premium project-oriented products.

The Hikvision’s global after-sales service system network includes a strongly resourced global after-sales service centre based at headquarters that provides professional after-sales service for customers worldwide. In addition there are 23 regional after-sales maintenance centres to support customers in larger local markets; and there are also 200 customer service stations that are authorised and certified by Hikvision and its global partners to deliver after-sales services for customers around the world.

The smart locks market is estimated to be valued at USD 2.1 billion in 2022 and predicted to reach USD 3.9 billion by 2027, registering a CAGR of 12.9% over that period, according to a new report just out from researchers Marketsandmarkets.

The growing adoption of IoT-based security systems and developing urban infrastructure in emerging nations are expected to create lucrative opportunities for the market players during the review period.

The smart lock market includes major Tier I and II players like Assa Abloy from Sweden, the Swiss Dormakaba Group, Spectrum Brands from the US, Salto Systems of Spain, Allegion from Ireland, and various others. These players have a strong market presence in the smart lock sector across various countries in North America, Europe, APAC, and RoW.

Robust deadbolt locks lead the way

The ever-growing demand for tablets, smartphones, and connected devices acts as a strong driver for the smart lock market. Smartphones are witnessing rapid adoption in many developed economies. The demand from developing economies, such as China, India, Malaysia, and Indonesia, will continue to fuel the demand for smartphones in the near future. The explosion of internet usage and the growing adoption of smartphones encourage companies to invest more in smartphone-based applications and mobile websites strategically.

The deadbolts are among the most commonly used exterior residential locks. They are grouped according to the grades that determine their relative strengths, based on their longevity and durability. The grades range from 1 to 3, with 1 being the highest and 3 the lowest. Most smart locks are compatible with the existing deadbolt specifically, making the systems more secure.

Residential market the largest vertical

The residential vertical includes condominiums and individual houses. Residential is the largest vertical of the smart lock market. The growth of the market for the residential vertical can be attributed to various factors such as increasing demand for smart homes, growing urbanization, and rising adoption of security solutions. Some of the leading providers of smart locks to the residential vertical are Assa Abloy, August Home, Spectrum Brands, and Gate.

APAC on the rise

APAC is expected to witness an increase in the adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the large population base, rising research and development (R&D) activities, and increasing urbanisation are projected to fuel the adoption of smart locks in APAC.

Key players in the smart lock market as mentioned within the research, and not already mentioned above, include Honeywell, Dahua, Samsung, Vivint, Zkteco, Igloohome, Remotelock, Onity, Master Lock Company, Miwa Lock, Sentrilock, Avent Security, Havenlock, Shenzhen Vians Electric Lock Co, Anviz, Cand House, Amadas, Thekeywe, Gate Video Smart Lock, and Dessmann Schliessanlagen.

The global smart cities market size is expected to reach USD 6,965.02 billion by 2030, registering a CAGR of 24.2% over the forecast period, according to a new report by Grand View Research, Inc. The researchers suggest that the concept of smart cities is gaining popularity due to rapid urbanisation and favourable government initiatives worldwide.

Therefore, with growing urbanisation, the need to manage infrastructure and assets is prompting countries across the world to invest in smart city projects. Furthermore, the increasing investment in sustainable and green technologies has further contributed to the adoption of these technologies by smart cities around the world.

According to the findings, the market is currently witnessing high investment for smart security, smart metering for water and utilities, smart mobility, and integrated traffic management systems. Most technologically advanced cities use IoT platforms to monitor city infrastructure, manage everything from traffic flows and parking to water and air quality, and use the resulting smart data generated to handle longer-term decisions around environmental sustainability. The increase in traffic congestion and greenhouse gas emissions is driving the adoption of smart mobility and efficient energy management applications.

The lack of awareness among people is also cited as by Grand View Research as a major factor for the slow development of smart cities, as it causes ignorance about smart city projects and lowers the level of impulsion by the government to implement smart solutions for cities. However, the analysts conclude that investing in smart cities will lead to improving the regional and global competitiveness to attract new residents and improve business and allow the government bodies to make informed decisions with the available technologies, which can lead to economic development.

The smart utilities segment is expected to witness a considerable CAGR of 22.9% over the forecast period, because of increasing investments in smart grid systems around the world.

The smart infrastructure segment is anticipated to register a CAGR of 24.3% over the forecast period. The rise in rigid industry standards and regulations and the growing focus on efficient energy consumption are the key factors driving the segment.

The waste management segment accounted for a market share of over 20% in 2021, and the smart ticketing and travel assistance segment is expected to witness a significant CAGR of 23.4% over the forecast period. The growing adoption of new technologies in the smart ticketing market such as Near Field Communication (NFC), Radio Frequency Identification (RFID), Quick Response (QR) code, and local wireless ticketing enables the key players to offer smart solutions across several sectors including, transportation, BFSI, and healthcare.

In terms of geographical strength, the Asia Pacific regional market is expected to register the fastest CAGR of 27.7% over the forecast period, owing to the rapid economic developments, globalisation, digitalisation, and the increased proliferation of smartphones. A large number of 5G deployments and initiatives taken by major Asian mobile operators to resolve the problem of high bandwidth requirements are anticipated to drive the growth.