Global Video Management Software (VMS) Market: Overview
Video management software (VMS) is an integral part of any surveillance system. It aids in managing camera and recording settings, viewing multiple camera feeds, and alerting in case of tampering and motion detection. Video management software can also review and analyze recorded video providing important information. For instance they can track customer movements and help detect suspicious activities. They are leveraged for keeping a tab on behaviors, activities, or other real-time information for inspection, security, and safety by means of electronic equipment, such as Closed-circuit Television (CCTV) cameras or Internet Protocol (IP) network cameras.
Global Video Management Software (VMS) Market: Key Trends
At the forefront of driving growth in the global market for video management software (VMS) is their easy installation process and growing use of IP videos. Others factors stoking growth are third-party integration with other digital business systems, rising concerns over security worldwide, and increasing penetration of video surveillance in a wide range of applications.
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Countering the growth in the market, on the other hand, are concerns pertaining to storage of high-resolution videos and recordings and privacy issues.
Global Video Management Software (VMS) Market: Market Potential
Based on the various types of solutions, the global market for video management can be segmented into custom application management, video intelligence, advanced video management, storage management, data integration, navigation management, intelligent streaming, custom application management, and security management. Among them, the advanced video management is predicted to have maximum market share in the foreseeable future because of its use in video monitoring system. Video management primarily entails collecting videos and handling recording, video routing, event management, and integration of other functionalities in the video monitoring system.
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Depending upon technology, the market can be broadly segmented into analog-based VMS and IP-based VMS. Of them, the IP-based segment is predicted to gain most market share in the near future. This is because IP cameras have wide-ranging features, cost relatively less, have high image resolution, and scalability. This growing uptake of IP cameras by end-users and enterprise customers has been pushing growth in the global market for video management software. Open platform VMS underpins IP cameras with onboard analytics that accord greater business intelligence for surveillance systems.
Global Video Management Software (VMS) Market: Regional Outlook
From a geographic standpoint, Asia Pacific is slated to outshine all other regions in terms of growth on the back of swift uptake by end-users and enterprise customers of IP-based and cloud-based video surveillance solutions. The growing popularity of smart city projects and intelligent transportation systems, particularly in the fast-expanding developing economies of China and India will also likely boost the market in the region by driving demand for different VMS applications. Transportation, retail, sport stadiums, government, and Banking, Financial Services, & Insurance (BFSI) are the main end-users in the VMS market.
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Global Video Management Software (VMS) Market: Competitive Analysis
To assess the competition prevailing in the global market for video management software, the report analyzes major players such as AxxonSoft, Milestone Systems, On-Net Surveillance Systems Inc., Aimetis Corporation, Exacq Technologies, 3VR, Verint Systems, Genetec, Salient Systems, and March Networks (Canada), who provide VMS solutions to entities to cater to their different security needs. The report studies their product offerings, revenues, market shares, and growth scope in the near future.