The Global Video Management Software (VMS) Market is valued at USD 4.18 billion in 2022 and is projected to reach a value of USD 15.70 billion in 2030 expanding at a CAGR of 18% over the forecast period of 2022-2030.
Video Management Software (VMS) Market- Overview
Video management software is defined as a component of surveillance system that has helped in the recording and overlooking of multiple camera feeds.
VMS also sets alert in case of tampering and motion detection. Video management software has provided a reliable and secure connection to the cameras by locating and attaching to all the IP cameras on the network.
Also, the rise in the number of residential thefts and burglaries, growth and expansion of security and surveillance industry and also the increasing adoption by the organizations that seek to safeguard their physical and capital assets markets are the major factors that attribute to the growth of the video management software (VMS) market have fuelled the market growth.
Key market trends- Growth determinants and Challenges
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth is the rise in demand for intrusion and threat detection.
The ease of deployment and the increasing use of IP video has emerged as the major market growth driving factor. Deeper, better, and more useful integrations with other digital business systems and the rise in number of small and medium scale enterprises especially in the developing economies has further aggravate the growth of the market.
Also, the rise in internet penetration, growing trend of cloud-based solutions and rising requirement for internet of things are some other factors have also bolstered the growth of the market.
On the flip side, the lack of skilled workforce and also the technological expertise in underdeveloped and developing economies and concerns that are related to storage of high-resolution videos and recordings acts as a growth restraint for the market.
Alongside, rise in privacy and data security concerns have yet again hamper the market growth rate. Lack of a strong IT infrastructure in the underdeveloped economies and complexities that are associated with integrator’s ability to properly size, scale, and configure an IP system have also hamper the market growth rate over the forecast period.
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Segmental analysis of the Market
Based on deployment
- On cloud
- On premise
The on premise segment has dominated the market growth over the forecast period. This is because of the rise in concern of data security on the cloud.
Based on technology
- Analog based
- IP based
The IP based video management software has dominated the market growth over the forecast period. This is because of the rise in popularity of IP-based cameras which has increased the market revenue of this segment
Based on vertical
- Banking
- Financial services
- Government and defence
- Education
- Telecom and IT
The government and defence segment has dominated the market growth over the forecast period. This is because of the rise in need for video surveillance to protect national security.
Asia Pacific is anticipated to amplify at a considerable CAGR
North America, Europe, Asia Pacific, Middle east and Africa are the major regions constituting the geographical landscape of VMS market. Among these, Asia Pacific has dominated the regional sector of the market. This is because of the widespread developments in advanced video technologies.
Competitive Landscape
The prominent companies that have influencing the competitive hierarchy of the market are 3VR Security, Inc. (Identiv, Inc.), A&H Software House, Inc. (Luxriot.), Aimetis Corporation (Senstar), Avigilon Corporation (Motorola Solutions Inc.), Axis Communications AB (Canon Inc.), AxxonSoft, Inc., Bosch Security Systems LLC, Cathexis Technologies Pty Ltd., Cisco Systems, Inc., Exacq Technologies, Inc., Genetec Inc., Hanwha Techwin Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd. (Hikvision), Honeywell International Inc., iMotion Security, Intelligent Security Systems, Inc. (ISS), Johnson Controls International Plc., KEDACOM, March Networks Corporation, Milestone Systems A/S, Mindtree Limited, Netposa Technologies Ltd., Qognify Ltd. (On Net Surveillance Systems), Panasonic Corporation, Pelco, Inc., Salient Systems Corporation, Verint Systems Inc., VIVOTEK Inc., and Zhejiang Dahua Technology Co., Ltd.
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Major questions answered in this report
- What is the growth rate of VMS market?
- What are the primary growth determinants of the market?
- which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key takeaways from the report
- The VMS market is projected to rise at a CAGR of 18% over the forecast period of 2022-2030.
- The rise in demand for intrusion and threat detection is aiding market progression.
- The government and defence segment has poised to expand significantly over the forecast period.
- Asia Pacific is anticipated to amplify at a considerable CAGR.
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