I'm Todd Ziniuk, President and CEO of Zedcor Security Solutions. I'll start off the presentation, and Amin Ladha, our CFO, will come in at the end. I'm the one that talks too much. He's the one that knows all the numbers, so we've always kinda been a team, and we do all our presentations that way. You know, I'll kick it off by explaining where Zedcor came from before I even dive into exactly what we do and who we are. Zedcor was an energy service company back in the day that evolved into a security company. We used to be made up of a few different business lines, energy services, generators, light towers. We had a landfill business. We had a general rents business. My background's always been rentals in oil and gas, and then we've evolved into where we are today.
We had an opportunity that came our way in 2017. It was a pipeline security job. It was from the Edmonton to Calgary Airport, and they had their equipment was getting sabotaged, pipeline was getting drilled out, so we launched the project. We started out it was, you know, when we first got into it, fairly archaic. It was a job trailer, four TVs. Started with about six towers, four ex-law enforcement officers sitting in a shack, literally watching these TVs, and it evolved up to where we are today, that, you know, we've got over 1,500 towers by the end of this year across Canada. We've expanded into the U.S., and it's been a great business to see how we've transformed and where we've went from the technology.
People ask, "Well, what..." You know, so we eventually went down the road, we sold off all the other divisions, and we've became just a strict security play, and we changed the branding to Zedcor Security Solutions, Zedcor Inc., as you guys would know it, ZDC. You know, the biggest thing that we've seen once we started doing the pipeline jobs is this product could work anywhere. We're 100% customer-agnostic. We have towers with Cirque du Soleil in San Francisco. We watch swimming pools in the summer in Toronto. We do car dealerships. We do construction sites. We've built several different units now for the industry. But what makes Zedcor different? Why is it not just as simple as getting a tower? We're a full turnkey solution. We build our own towers. We build the... We don't build the cameras, but we roll the solution together.
The largest thing that, you know, I always say to our staff and our whole team is, the heartbeat of our business is our monitoring center. We're no different than a 9-1-1 monitoring center. We're actually phoning 9-1-1, and then the police phone our room back to when they pull into a job site, and there's a crime in progress, they wanna know, are the people armed? How many, where are they at? And that's what makes us different. We're not just a camera tower. People wanna see recordings, and, you know, and that's what's evolved for us as a business. And we have so many backstops in place in our room. We take. You know, the whole team's in. We know how serious this is. We're watching people's assets. And it's not even that, it's safety.
Kids' safeties at pools that shouldn't be in there, bad things can happen. It'll. The business has evolved. We were. You know, we used to watch, you know, a lot of the pipeline stuff, equipment. It, it's gotten bigger for us into that. You know, you can see the different industries that we work in, and this is a small portion, you know, and the elephant in the room that was always there for Zedcor is: What's Zedcor's life after Trans Mountain? Just to explain it, back in, you know, 2023, at the beginning, Trans Mountain and Coastal GasLink were about 70% of our revenue. Now, saying that at the beginning of 2023, late 2022, that was a, maybe a fleet of 500-600 towers.
So we had about 230 - 240 towers, and the reason the numbers don't match, the new towers we started to build went out for a lesser day rate than the original ones. So what happened at the end of 2023, those jobs came to an end, and then, like, you can see on the slide. But we went from 70%, our largest customer today, to 6%, and the industries have totally changed. They're down to 7-8%. Construction, that's made up of a whole bunch of different things. What's in the construction is house building, job sites, LRT, linear projects. So we've taken this product, and it's been. You know, it's across Canada.
When we started going to Toronto, the reason we did it is we were labeled as an energy service company, and the market didn't like it. The banks didn't like it. 2017, 2018, 2019, through all those times, energy service wasn't a great place to be, and we started to make the plan to go to Toronto, and we opened a branch there. It took us about fourteen months to get, I think, what, 100 towers, right Amin ? 100 towers, and today, Toronto is our largest branch. When Trans Mountain ended at the end of 2023, if we wouldn't have made that move, we would've been an Alberta-based security company with 230 towers coming back to our yard with a small market.
The biggest thing that that helped us do, I mean, if you just go to the slide with the towers on it. The tower on your guys' left was the original tower, meant to be a light tower. We own 260 of those. The biggest thing is they rent for more money. They cost a lot more money. There's engines in them. They serve their purpose. They're a rugged unit for out in the middle of nowhere. Work great in the winter, work great in the summer, but they were bringing in the biggest revenue. The one on the right is what we're building today. The business has evolved, and there's one in between, and it's a solar unit. It's a green product. Depends on the sun, works in the winter.
You have the reliability even in the heavy snowfall areas, where you can still plug it in. It's electric as well. Clients are going to that. The one on the left was the original tower, and what happened when those came back, the fact that we built our platform out, went with the 6 branches across Canada, all of a sudden, your two hundred and thirty towers that came in, you were putting thirty to forty each branch, and it was feasible. We weren't stuck with, you know, two hundred and sixty of these in Alberta, right? Last year we put out 550 towers. With those two hundred plus coming in, we built 350. It's been great to see the team, and we pulled together and did that.
You know, it was always a concern. Our ex-law enforcement at that point have reached out to every precinct, even in the United States where we work in Canada, let them know who Zedcor is. "This is what we do. These aren't false alarms," and they appreciate it. They go to so many situations that it's after the fact. Police don't wanna be there after the fact. They wanna be there during the act. So at that point, police are dispatched, and then the police phone our room back, and we work with them until they get to the site. One line of offense or defense that we have before we pull the trigger on phoning the police is we have a talk-down speaker.
We can tell the people on site, "You need to leave, you're trespassing." Nine times out of 10, they leave, but there's the other times they don't. You know, the business has just evolved to where it's getting stronger or the technology is where we need it. You know, the cameras are 4K. We flipped out the fleet. I get the question all the time: "So in the next three years, are you gonna have to spend CAD 3 million or CAD 4 million to buy new cameras?" It's not the case. The fact that we have the AI at the edge, the processors are gonna get stronger. Instead of going out 200 yards, it might go 400 yards. That's gonna be what changes. We won't change the fleet. What we have is great, but I think building forward is what we'll do.
Today we sit right now with the 6 branches in Canada, and we've expanded to the United States into Houston. The biggest reason we went into Houston is the bottleneck on the building. We're using manufacturers in Canada, the guys that just built towers, and the problem with them is, you know, they'd start building your towers, and then they would see an idea and think it was great. What we did is I went to the board and said, "I think we need to, you know, stop the last bottleneck we have, and that's our light towers," like the actual structure being built. So we went to Houston. We now assemble them. We don't actually do the welding and painting. All the pieces come to us. We actually put it together. Nobody sees our recipe.
Nobody, you know, gets to put their hands into what we're doing, and we can control it. We've got two builders on board right now that we have the ability to build 50 a week, if required, and we're bringing on a third. And the camera side of the business, like I said earlier, Canon owns them. It's not a problem. It's, you know, if we wanna go from 100 a month to 200 a month, it's just a phone call. It's probably a three-week notice. But right now I'll pass it over to Amin Ladha. He'll come in and talk on some of the numbers. Come on up, Amin. Then we can open it up, you guys, for some questions at the end as well.
Thanks. Thanks, Todd. I'll kind of keep it quick and to the point. I'll talk about some of the addressable markets and the white space we're looking at, as well as some of the key financial metrics. As everybody knows, security and theft is a major issue in terms of all industries, but these are just kind of some of the articles that highlight that kind of macroeconomic issue that the world is facing and how we're trying to capture more and more of that white space. In terms of growth rate, one of these research studies showed an 11% or just under 11% kind of an annual growth rate that they're forecasting for the next 10 years. We've seen a larger growth rate than that over the past kind of four or five years that we've been involved in this business.
And the biggest reason that we feel that we've kind of exceeded that growth rate is lower costs than the competitors, and we're adding value. We're cheaper than security guards, and we're cheaper than having nothing on site, and we're able to provide security that delivers results. We're over 95% effectiveness rate. I don't think any of the security guard companies or even kind of any of the monitoring remote surveillance companies can kind of project those statistics that we're able to provide and kinda have that level of service. And as Todd mentioned, what sets us apart is we do all of the monitoring, we do all the service levels, we do it in-house, and that's what allows us to be successful and grow faster than that. In terms of some range estimates, that's the key part of this slide that I wanted to touch on.
We're hoping to hit higher end of these ranges, and we're on track to, for 2024, to kind of get closer to that 1,500 exit. 2025, the run rate, the plan is to add between 1,000 to 1,200 security towers. That's not to say if a major customer came along and placed a large order, now that we're in charge and kind of in control of our manufacturing, we can exceed those numbers as well. And the capital market side, the financial side, has taken care of itself, where we're able to tap into equity markets, debt markets. The share price has gone up, and we're able to kind of manage that growth within range. That's not to say we won't. The biggest thing we want to maintain is our service quality and our success rate.
We're not gonna take the guardrails off that and grow beyond our means. We're gonna manage that as well. This slide just kind of touches on some of the verticals that we're playing with. There's over 400,000 sites that we feel have potential across North America that could use our solution. We're never gonna replace the indoor security guard, but anything that needs outdoor security, we're perfect for that, and there's over kind of 400,000 sites. As we get more and more into this industry, we feel this number is getting lighter and lighter, like it keeps... There's more and more opportunity we're seeing. This doesn't even cover some of the other large kind of potential areas in terms of utilities and kind of deployment in that space as well. A couple key points to highlight in this slide here.
Over 75% of our revenue is recurring.
Went into Austin, San Antonio. It just shows you how big the industry is. That's just home building.... Just we're a billion-dollar company just in the home building line in the United States, and now we never, ever even thought of doing home building in Canada. Now we've expanded that into the Calgary, different markets. We're actually, it's another vertical that we're starting to work in. I'll let you come up here and do some of these, too, as well. Yeah, we touched most of them, and I think we're on the warning light. Yeah. So go ahead. Any questions anybody would like to have? I think we must have did an okay job. Do you have anything you want to add, Amin?
No.
I think the last thing I'll leave everybody with is to understand is how big this can get. It's about our platform. We've executed the platform in Canada. We're not in Saskatchewan. We operate there. We could be. We're not in Quebec. We're working on that. But the platform is so big in the United States with the lower 48. We have a hundred plus towers in Winnipeg. How many Winnipegs are across the US, right? It's phenomenal. This isn't a case of, well, what if somebody else comes along? There's gonna be somebody else that comes along. The market's that big. People don't understand that cameras on buildings used to just get recorded. We're streaming video via satellite or cellular.
It's changed the world of how we can do it, you know, and, there's so much more, I think, like the yet to come. We're working alongside with a couple different companies on plate recognition that we can tie into our monitoring system centers. The monitoring centers are gonna keep growing. It's scalable. It's a great business. The stock's doing very well. I was with a guy last week in Toronto, said, "I wish I would've bought this at a dollar." I said, "I hope you start buying it now, so when I see you in a year and we're at $4, you're not saying, 'I wish I bought it at $1.80.'" And I think this thing's just gonna keep going. We haven't even scratched the surface, you guys. It's a great company. We got a great team.
We're all excited, and I don't know, Amin, if you have anything to add to that, but other than that, I appreciate your guys' time, and thank you for listening.