Ease of deployment and increased use of Internet Protocol (IP) videos is driving the growth of the Video Management Software (VMS) market
The VMS market size is expected to grow from USD 3.71 billion in 2016 to USD 10.54 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.2%. Ease of deployment and increased use of IP videos, third-party integration with other digital business systems, increasing security concerns globally due to rising security threats, and increasing penetration of video surveillance in a wide range of applications are some of the driving forces for the VMS market. Concerns related to storage of high-resolution videos & recordings and issues related to privacy act as restraints for the VMS market.
Among the type of solutions, the mobile application segment is expected to grow at the highest rate during the forecast period
The mobile application solution is expected to grow at the highest rate in the VMS market during the forecast period. The rapid proliferation of smartphones, tablets, and other smart devices in businesses, as well as, consumers is driving the mobile application segment. Mobile apps are widely accepted in the video surveillance system, due to their functionality and flexibility. Mobile apps allow end-users to remotely access live videos and recorded videos from anywhere, at any time. Mobile apps give end-users simple and intuitive options to view, manage, & control the video monitoring system.
IP-based video management software is expected to have the maximum market size during the forecast period
Among technologies, the IP-based segment is expected to grow at the highest rate in the VMS market during the forecast period. IP cameras drastically change the video surveillance system by offering a wide range of features, such as low price, high image resolution, and scalability. End-users and enterprise customers are increasingly adopting IP cameras, which is one of the major drivers behind the growth of the VMS market. Open platform VMS supports IP camera with onboard analytics, which provides more business intelligence for the surveillance system.
Asia-Pacific (APAC) is expected to dominate the video management software market during the forecast period
APAC is expected to grow at the highest growth rate in the VMS market during the forecast period. The end-users and enterprise customers are majorly adopting cloud-based video management solutions in the APAC region. A major focus on smart city projects and intelligent transportation systems, specifically in China & India, may lead to a rise in the demand for VMS applications. Transportation, sports stadiums, government, city surveillance, retail, and Banking, Financial Services, & Insurance (BFSI) appear to be the most attractive end-users for the VMS market.
In the process of determining and verifying the market size for several segments & subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
• By Company: Tier 1: 33%, Tier 2: 41%, and Tier 3: 26%
• By Designation: Director level:56%, C level: 33%, and Others: 11%
• By Region: North America: 33%, EMEA: 23%, APAC: 44%
The various key vendors profiled in the report are as follows:
1. AxxonSoft (Germany)
2. Milestone Systems (Denmark)
3. On-Net Surveillance Systems Inc. (U.S.)
4. Aimetis Corporation (Canada)
5. Exacq Technologies (U.S.)
6. 3VR (U.S.)
7. Verint Systems (U.S.)
8. Genetec (U.S.)
9. Salient Systems (U.S.)
10. March Networks (Canada)
The report segments the VMS market by solution, which includes video intelligence, case management, advanced video management, data integration, custom application development, intelligence streaming, mobile application, navigation management, storage management, and security management. Segmented by technology, the market comprises analog & IP-based video management software. The market has also been segmented by deployment model, which comprises the on-premises and cloud deployment model. Based on services, the market has been further segmented into professional and managed services. Segmented by vertical, the market includes BFSI, government, healthcare & life sciences, manufacturing & automotive, retail, transportation & logistics, media & entertainment, telecom & Information Technology (IT), education, real estate, tourism and hospitality, energy& utility, and others (including residential & commercial sector, traffic monitoring, and corrections. Segmented by region, the market includes North America, Europe, APAC, Middle East & Africa (MEA), and Latin America.
Reasons to Buy the Report
• To get a comprehensive overview of the global VMS market
• To gain wide-ranging information about the top players in this market, their product portfolios, and key strategies
• To gain insights of the major countries/regions, in which the VMS market is flourishing across various industries