Canalys announces record results

Canalys today reported record annual revenue of €8.2 million (US$10.0 million) for the year ending December 2014. This was in line with expectations, and represented 18% growth on 2013. Canalys delivered on the ambitions it announced a year ago (http://www.canalys.com/newsroom/canalys-plans-further-ambitious-growth-2014), enjoying tremendous success with a raft of new products. The strategy it conceived during the depths of the global recession has helped deliver a remarkable five-year compound annual growth rate of 16%. Canalys forecasts that its growth in 2015 will be ahead of the five-year average, after a record Q1.

Steve Brazier, President and CEO, said, “Our decision to invest in emerging technology areas, such as 3D printing, has paid huge dividends. Market leaders, and those who aspire to hold that position, look to Canalys when they need expert analysis and best-in-class market data on anything new. They appreciate our insight and our realistic assessment of new market opportunities. We are delighted that wearable computing has become our fastest growing service, and interest in this category continues to soar.”

Canalys has always championed the innovative use of software in its research processes and in the delivery of its services to clients. It recently launched its fourth app and leads the industry in its ability to reach and stay in touch with its four key communities: technology vendors, the media, channel partners, and event participants. It will continue to enhance the features and functionality of all its digital assets during 2015 to stay well ahead of the competition.

“As the smart phone industry pivots towards Asia, then so does Canalys,” added Nicole Peng, Research Director in China. “We are growing fast in China, where so much technology innovation is taking place, and clients really value our local expertise. This was demonstrated in 2014 by our hugely successful, 1,000-delegate event in Shanghai; probably the largest independent analyst firm event of its type to have ever been run in China. We believe that our ability to coordinate and collaborate globally is a unique competitive strength, and one that helps us keep on top of market trends in places such as India and Indonesia too.”

Canalys has already added several people to its international team in 2015 and continues to recruit to maintain its growth—anticipating further expansion in Latin America and Asia in particular—as well as to support its ongoing digital transformation. Maintaining diversity in the company, in experience and culture, has always been a vital component of Canalys’ success story and it will continue to focus on this as the company grows.

Nushin Vaiani, Senior Analyst, commented, “We are proud, for example, that more than half of our employees are women, although we know this is still unusual in the wider IT industry. We recommend that technology firms should strive harder to embrace diversity if they really want to succeed globally. We continue to follow that philosophy internally. And clients will continue to benefit from the different perspectives and insights we deliver as a result.”