Allied Vision Technologies Posts Record Sales and Growth for 2010
rong>Total sales increase 58% to €43.4 million ($58.8 million). Strong growth in Asia and in new market segments.
In the past year, Allied Vision Technologies broke all its sales and growth records. The leading manufacturer of digital cameras for industrial and scientific imaging generated €43.4 million ($58.8 million) in a booming market, about 58% more than in the previous year.
Swift market recovery and new products
The worldwide market for imaging systems and components recovered astonishingly quickly after the crisis year of 2009. AVT profited considerably as one of the leading digital camera manufacturers from this rebound.
Nevertheless, the company’s success does not trace back to only positive market developments. New products together with the identification and exploitation of new markets also contributed decisively to such growth. In so doing, Allied Vision Technologies successfully introduced two new camera families onto the market in 2010: the Prosilica GX at the upper end and the high-volume model Manta. Both models’ success had a positive effect on sales.
Both new camera series are based on the new GigE Vision interface which continues to enjoy ever-increasing favor on the market. Between 2009 and 2010, Allied Vision Technologies sales of GigE Vision cameras more than doubled. Happily, this did not occur at the expense of the long-established FireWire interface. The FireWire camera business also demonstrated strong growth with a 30% increase in sales.
New markets provide upswing
Another reason for such spectacular sales growth is the identification and exploitation of new markets – geographic as well as application- and technology-related areas. Allied Vision Technologies profited, among other things, from Asia’s booming economic activity. To further expand its position in this region, the company opened a branch office in Singapore in February of 2010.
Further drivers of growth were the identification of new, non-industrial areas of application for digital imaging. Alongside medical imaging, traditionally a strong segment for AVT, the company expanded its position particularly in the market for intelligent transport systems (ITS).
Clear growth strategy
The economic success of the past year had a positive effect on the staff as well: the number of employees rose in comparison to 2009 at a rate of almost 20% to 158 people worldwide, supporting the company’s further development.
“Our success in the past year is due not only to the need to recover from the crisis of 2009,” commented Frank Grube, President & CEO of Allied Vision Technologies. “We follow a clear growth strategy that rests on three pillars: technological innovation, worldwide expansion and diversification of our business markets. In 2010, we harvested the first fruits of this strategy. With the acquisition of VDS-Vosskühler on January 1, 2011, the foundation has been laid for the next expansion of our position as the leading camera manufacturer in the machine vision market.”