Cemtrex Inc., an advanced security technology and industrial services company, today announced that it intends to acquire One Hundred percent (100%) ownership of the entity Vicon Industries, Inc. (VCON), a New York based leading provider of mission critical security and video surveillance systems. This plan, which is expected to close by year-end, will solidify Cemtrex's position as Vicon’s sole owner, increasing its current stake from approximately 93% to 100%.
Since 1967, Vicon has been a leading manufacturer of mission-critical security surveillance systems. Vicon is focused on providing solutions that are engineered not just for performance and features, but for simplicity in deployment, operation and maintenance. Vicon’s mission is to serve as a valued security technology partner to their customers by reducing security solution complexity, ensuring a superior experience.
According to Markets & Markets, the video surveillance market was valued at USD 30.37 Billion in 2016 and is projected to generate USD $54.42 billion in 2024, with expectations to reach $88.71 billion by 2030. This growth is primarily driven by advancements in camera technology, AI integration, and increasing demand for security solutions across various sectors. The market is set to grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2030.
