Market Size – USD 4 billion in 2018, Market Growth – CAGR of 20.5%, Market Trends – Escalating demand for video surveillance and growing awareness for IoT.
The Video Management Software (VMS) Market is expected to grow from USD 4 billion in 2018 to USD 24 billion by 2026, at a CAGR of 20.5% during the forecast period. The growing concern for security issues all over the world requiring the need for video surveillance and the demand for real-time video processing and recording in HD is anticipated to propel the growth of the market. The ability of VMS to better incorporate with various business digital systems, escalating demand for video surveillance to enhance security measures, use of mobile application solution for tasks such as enabling end-users to monitor real-time videos and also have remote access to such videos in their smart devices, and efforts towards technological standardization are other factors that are estimated to drive the market for VMS.
One major factor that may restrict the growth of the market is the concern pertaining to privacy of streaming as well as recorded videos. Any unauthorized person getting access to the stored videos might misuse the content and thereby compromise with the privacy of people.
Players will require increased investments to tackle these challenges and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the video management software market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2026.
The report “Video Management Software (VMS) Market by Type of Solution (Advanced Video Management, Video Intelligence, Case Management, Data Integration, Custom Application Management, Intelligent Streaming, Storage Management, Mobile Application, Navigation Management, and Security Management), and Geography-Global Forecast 2026” is available now to Reports and Data customers and can also be purchased directly at: https://www.reportsanddata.com/discount-enquiry-form/1095
Further key findings from the report suggest
- The video management software (VMS) market is expected to grow from USD 4 billion in 2018 to USD 24 billion by 2026, at a CAGR of 20.5% during the forecast period.
- The growing concern for security issues all over the world requiring the need for video surveillance and the demand for real-time video processing and recording in HD is anticipated to propel the growth of the market. The ability of VMS to better incorporate with various business digital systems, escalating demand for video surveillance to enhance security measures, use of mobile application solution for tasks such as enabling end-users to monitor real-time videos and also have remote access to such videos in their smart devices, and efforts towards technological standardization are other factors that are estimated to drive the market for VMS.
- Based on the type of solution, this report segments the market into advanced video management, video intelligence, case management, data integration, custom application management, intelligent streaming, storage management, mobile application, navigation management, and security management. Due to the growing use of mobile application solution in various VMS solutions owing to the proliferation of smartphones and smart devices among end-users, the mobile application solution is expected to have the highest growth rate of CAGR 21.2% during the forecast period.
- On the basis of the type of technology, the market has been segmented into analog based VMS and IP based VMS. IP-based VMS technology occupies the largest market share with a revenue of USD 2.32 billion in 2018 and is forecasted to lead the market during the forecast period owing to the rise in deployment of IP cameras amongst end-users. Benefits provided by IP cameras are affordability, HD images processing, and
- Based on the type of services, the market has been segmented into professional and managed services. Managed services lead the market with a market size of USD 2.59 billion in the year 2018 and would continue to do so in the forecast period. Managed VMS services are required to improve operational efficiency and bring down the cost of operation.
- Based on the type of deployment, this report segments the market into cloud-based and on-premise deployment. The on-premise deployment type is currently the trending one as the ownership cost associated with this deployment is very less. But, the cloud-based deployment is estimated to have the highest growth rate of CAGR 20.7% during the forecasted period due to rising demand for cloud-based
- Based on end-use application, the market has been has been segmented into Banking, Financial Services, and Insurance; Government; Healthcare and Life Sciences; Manufacturing and Automotive; Retail; Transportation and Logistics; Media and Entertainment; Telecom and IT; Energy and Utilities; Tourism and Hospitality; Education; Real Estate; and Others. The government is estimated to hold the largest market share with a market size of USD 0.82 billion among the industry vertical due to rising demand of video surveillance to handle security and manage risks in places like airports, ports, roads, etc.
- Geographically, the market has been segmented North America, Europe, APAC, South America, Middle East, and APAC region is projected to have the highest growth rate of 20.7% during the forecast period owing to the development of commercial and domestic infrastructure and high investment by governments in the security sector especially in developing economies like India and China. The need for video surveillance to increase security measures in public places and ensure public safety, for remote management of retails stores, shopping malls, etc. are some of the several reasons responsible for the rise of this market in APAC region.
- Key players in the video management software Market include 3VR Inc. (U.S.), Genetec Inc. (U.S.), Milestone Systems Inc. (U.S.), Exacq Technologies (U.S.), Aimetis Corporation (Canada), Mindtree Ltd (India), Geo Vision Inc. (Taiwan), Surveon Technology Inc. (Taiwan), Imotion Security Inc. (Canada), Video Insights Inc. (U.S.), among other players.
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For this report, the market has been divided into the segments of type of solution, technology, services, deployment, industry vertical and region:
- Type of Solution (Revenue, USD Million; 2018–2026)
- Advanced Video Management
- Video Intelligence
- Case Management
- Data Integration
- Custom Application Management
- Intelligent Streaming
- Storage Management
- Mobile Application
- Navigation Management
- Security Management
- Type of Technology (Revenue, USD Million; 2018–2026)
- Analog Based VMS
- IP-Based VMS
- Type of Services (Revenue, USD Million; 2018–2026)
- Professional Services
- Managed Services
- Type of Deployment (Revenue, USD Million; 2018–2026)
- End-Use Application (Revenue, USD Million; 2018–2026)
- Banking, Financial Services, and Insurance
- Transportation and Logistics
- Media and Entertainment
- Healthcare and Life Sciences
- Manufacturing and Automotive
- Telecom and IT
- Energy and Utilities
- Tourism and Hospitality
- Real Estate
- Regional Outlook (Revenue, USD Million; 2016–2028)
- North America
- Canada & Mexico
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Rest of the World
- South America
- Middle East and Africa
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