Overview and Scope
Video management software (VMS) refers to a type of platform that is designed to manage and control the recording, storage, and retrieval of video footage from surveillance cameras. It is commonly used in security and surveillance systems to monitor and manage video feeds from multiple cameras in a centralized manner.
Sizing and Forecast
The video management software (VMS) market size has grown exponentially in recent years. It will grow from $12.44 billion in 2023 to $15.14 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to increasing security concerns, integration with other security systems, government initiatives, scalability and cost-effectiveness, vertical-specific solutions.
The video management software (VMS) market size is expected to see exponential growth in the next few years. It will grow to $32.81 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to potential growth in the next decade, focus on IP-based solutions, global market expansion strategies, enhanced surveillance capabilities, demand for customized solutions. Major trends in the forecast period include increased adoption of IoT and video analytics, rising security concerns, enhanced surveillance capabilities, demand for customized solutions, innovative product offerings.
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Segmentation & Regional Insights
The video management software (VMS) market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Organization: Small And Medium Sized Enterprises, Large Enterprises
3) By Technology: Analog Based Video Management Software, Internet Protocol Based Video Management Software
4) By Vertical: Banking Financial Services And Insurance (BFSI), Government, Healthcare and Life Sciences, Manufacturing and Automotive, Retail, Transportation And Logistics, Media And Entertainment, Education, Other Verticals
North America was the largest region in the video management software (VMS) market in 2023. The regions covered in the video management software (VMS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising crime rates are expected to propel the growth of the video management software market going forward. Crime rates refer to the frequency or incidence of criminal activities within a specific geographic area or population over a certain period. These crimes arise because of socioeconomic factors, demographic changes, social unrest, and political instability. Video management software is used by law enforcement in crime rate prevention to leverage technology to enhance surveillance, investigation, data analysis, pattern recognition, and response capabilities. For instance, in 2022, according to Brighton Analytics Limited, a UK-based data aggregation company, the crime rate in the UK was 75.88 per 1,000 inhabitants in 2022–2023. The aggregate UK crime rate has increased by 8% since 2021. Therefore, rising crime rates are driving the growth of the video management software market.
Key Industry Players
Major companies operating in the video management software (VMS) market are Bosch Security Systems Ltd., Hitachi Ltd., Siemens AG, Schneider Electric, Honeywell International Inc., Johnson Controls International Plc, Hangzhou Hikvision Digital Technology Co. Ltd., Hikvision USA, NetApp Inc., Zhejiang Dahua Technology Co. Ltd., Dahua Technology Inc., Ubiquiti Networks, Axis Communications AB, Mindtree Ltd., Verint Systems Inc., eInfochips Inc., Verkada Inc., Vivotek Inc., Eagle Eye Network Inc., Milestone Systems, Hanwha Techwin Co. Ltd., Digifort Global, Avigilon Corporation, KEDACOM Ltd., Genetec Inc
The video management software (vms) market report table of contents includes:
1. Executive Summary
2. Video Management Software (VMS) Market Characteristics
3. Video Management Software (VMS) Market Trends And Strategies
4. Video Management Software (VMS) Market – Macro Economic Scenario
5. Global Video Management Software (VMS) Market Size and Growth
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32. Global Video Management Software (VMS) Market Competitive Benchmarking
33. Global Video Management Software (VMS) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Video Management Software (VMS) Market
35. Video Management Software (VMS) Market Future Outlook and Potential Analysis
36. Appendix
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