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Video Management Software (VMS) Market Research Report Released with growth, latest trends & forecasts till 2024

06-01-2018 09:22 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Global Market Insights, Inc.

Global Market Insights, Inc.

VMS market based on technology can be segmented into IP-based and analog-based VMS. IP-based VMS is currently trending and is anticipated to dominate the market over the forecast timeline. IP cameras offer a variety of features such as high image resolution, low price, and scalability. The growing implementation of IP cameras by enterprise customers and other end users is anticipated to be a major growth driver for the industry. In addition, the development of open platform VMS solutions along with IP cameras and onboard analytics is anticipated to provide more business intelligence to surveillance systems and is predicted to further give an impetus to VMS market growth.

Video Management Software (VMS) Market size is anticipated to witness growth owing to factors such as an increase in security concerns and escalating demand for high-quality video processing. Increasing infiltration of video surveillance systems in developing countries is expected to fuel the VMS market growth.

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VMS solutions are used as a unified tool for audio, digital video, data playback, and functionalities management. Such software is specifically designed for processing, storing, and managing signals for more than one camera feed. The growing popularity of video surveillance in applications including event video surveillance, facility protection, cross-border activities, and monitoring applications is anticipated to be one of the driving factors for the VMS market growth. Increasing demand for high-quality images is also estimated to provide several growth opportunities to the VMS market.

Several VMS solutions are using mobile application solutions, which are anticipated to fuel the VMS market growth owing to the fast infiltration of tablets, smartphones, and smart devices by consumers and enterprises. Mobile apps are providing end users simple options to manage, view, and control the video monitoring system and allow remote access to recorded & live videos.

The VMS market based on deployment type can be segmented into on-premises and cloud types. On-site premises solutions deploy several cameras and are installed on-site, on customer’s own servers or workstations while cloud-based solutions are hosted off-site, usually by the vendor, and the data is retrieved through an internet connection. Typically, on-premises solutions have high up-front costs owing to investments required for the equipment, but a low cost of ownership as there is null or less monthly or annual subscription fees. Owing to these reasons, on-premises solutions in the VMS market are currently the fastest growing solutions; however, VMS for cloud-based applications is expected to foresee a faster growth due to the increasing use of cloud-based solutions.

The VMS market is increasingly witnessing trends such as deep learning for video analytics, built-in intelligence, and improvement in image quality. Privacy concerns regarding the adoption of video surveillance systems are anticipated to hinder growth to some extent. Additionally, requirements for large data storage systems and high cost for installations are anticipated to hamper VMS market growth. The organizations are focusing on establishing product life cycle and risk assessment programs to counter cyber security threats.

VMS solutions can be used in large organizations and SMEs. Various sectors using VMS solutions include healthcare, telecom & IT, retail, transportation, BFSI, government & public sector, military & defense, manufacturing, media & hospitality, and others. The government & public sector is anticipated to continue to lead the VMS market over the forecast timeline, owing to the wide adoption of video surveillance systems. The systems play an important role in risk management as it is the responsibility of the government for handling the security, management, and other functions in the development of cities such as ports, border securities, official buildings, and institutions.

North America VMS market is expected to witness a steady growth over the forecast timeline, owing to growing video surveillance systems presence and growing adoption of high-end security networks. The consumers in the region are increasingly focusing on software platforms, which provide a user-friendly interface and powerful functions such as thumbnail search & calendar search, which are helping users find important videos faster and filter queries.

Asia Pacific VMS market is projected to become the fastest-growing market. The growth is attributed to developing commercial and domestic infrastructure and increasing government expenditure in the security sector. Increasing penetration of video surveillance in public places, such as retail stores and shopping malls, resulting from high infrastructure growth is anticipated to propel VMS market growth in this region. Growing focus on intelligent transportation systems and smart city projects, especially in emerging economies, such as India and China, is anticipated to splurge the demand.

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Vendors are increasingly focusing on technological innovations and investing in R&D to come up with newer product versions. They are also implementing certain standards in product development, which will prove useful for VMS market growth over the forecast timeline. For instance, the implementation of video IP standards, such as PSIA and ONVIF, will allow VMS developers to focus their resources on developing new VMS functionalities rather than focusing the programming time on camera drivers. The implementation of these standards will also encourage other manufacturers to implement these specifications to gain support from the suppliers, which is expected to propel the VMS market growth.

Highly competitive prices are anticipated to make it a tough market for hardware vendors but the price of VMS solutions has not seen a fall as drastic as the recorders and cameras. The VMS market is fragmented in nature and vendors face a big challenge to compete on features rather than prices. Hence, software is anticipated to be a big differentiator in the upcoming period. The companies are anticipated to increasingly use strategies, such as mergers and acquisitions, especially in the software segment as software is a big differentiator in quality and performance aspects.

Key participants in the VMS market include Milestone Systems, AxxonSoft, Schneider Electric Industries, MindTree, Exacq Technologies, March Networks, On-Net Surveillance Systems, Verint Systems, Qognify, Bosch Security Systems, Tyco Security, Aimetis Corporation, 3VR, Salient Systems, Genetec, Hanwha Techwin, Cathexis, Surveon Technology, OnSSI, Genetec, Honeywell International, Exacq Technologies, Axis, A&H Software, Cisco Systems, Inc., KEDACOM, and IProNet.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

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