Video Management System Market Projections and Regional Outlook, Expected to Boost Moderately over 2030

The Global Video Management System Market size is expected to reach $34.8 billion by 2028, rising at a market growth of 22.2% CAGR during the forecast period.

Global Video Management System Market Size, Share & Industry Trends Analysis Report By Technology, By Vertical, By Component (Solution and Services), By Deployment Type (On-Premise and Cloud), By Application, By Regional Outlook and Forecast, 2022 - 2028

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A vital element of a company's security framework is a video management system (VMS). It makes it possible for companies to gather, store, record, retrieve, examine, and analyses footage from their security cameras. Given that so numerous industries are already using surveillance cameras, a VMS is a useful tool to have. A VMS assists business in managing their security system cameras, keeping an eye out for suspicious activities, and reviewing and analyzing recorded video to gain insightful knowledge.

For instance, retail establishments may now watch consumer behaviour, lengthy checkout lines, and dwell time using video analytics data acquired by their VMS, improving their customer satisfaction and increasing their bottom line. While video monitoring is still frequently employed in safety-related situations, other departments are starting to see its worth. Systems for managing video content are useful for promoting both customer and employee safety. They enable businesses to keep an eye on suspicious or criminal activity taking place inside their facilities in real time.

In particular if an accident or injury occurs, businesses can use their VMS to make sure personnel are adhering to set safety and security requirements. A crucial tool for firms under investigation who might be dealing with legal accusations or workers' compensation claims is the ability to go back and review previous surveillance camera footage. Moreover, firms in particular industries are frequently mandated by law to maintain surveillance video for predetermined amounts of time in order to comply with compliance standards. They are able to achieve this because a VMS automates the policies for saving and retrieving video.

A VMS lowers the expense of purchasing and operating different systems by minimizing the quantity of physical hardware and/or software components required within a group's video surveillance workflow. Furthermore, video management solutions frequently assist companies in maximizing the storage of their video content. They assist in reducing storage expenses that an organization would otherwise incur if all of its video data was retained on more costly tiers of storage by only gathering and preserving the video what matters and shifting bigger, less frequently viewed files to cooler tiers of storage.

COVID-19 Impact Analysis

The imposition of various government regulations to curb the spread of the virus has motivated companies to opt to work from home culture and heavily invest in the digitalization of the company. Solutions that go far beyond security are progressively being implemented using video management software. More and more manufacturers are trying to find a way to combine their VMS with temperature screening, mask detection, and people counting solutions in light of the pandemic. In a post-COVID environment, all of these features will enable organizations to support their health and safety initiatives. Access control and video management software work together to produce a unified solution for effective safety risk management.
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Market Growth Factors

Rising Need For Security Surveillance

Security organizations continue to exercise caution when disclosing the scope of their monitoring operations for public review. There is no question that giving law enforcement more surveillance power aids in the prevention of some crimes, but there is also a chance for abuse or a risk to people' rights. Numerous significant terrorist acts over the past 20 years have sparked debate about the usage of various surveillance technology. Few studies have focused on the general people, despite the fact that the employment of emerging technology for proactive security and monitoring has been explored and condemned in academia.

Growing Demand For Live And Recorded Videos

When deciding where to place things in a store, video management software uses analytical data from cameras in the retail setting and presents it. It can also be used in conjunction with facial recognition technology powered by artificial intelligence (AI) to detect known offenders. Additionally, it can be utilized in access-controlled concerts to strengthen admission procedures or warn attendees of potential occurrences. It is frequently used by big businesses and academic institutions for a range of tasks like corporate training, event streaming, executive communication, and knowledge management.

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Market Restraining Factors

Huge Possibilities Of Content Duplicity

With the accelerated advancement of technology, particularly the development of video management, ever more businesses are deciding to use video management software to offer their clients dedicated storage, uninterrupted streaming, and improved security surveillance. Due to rising content development costs, suppliers of video management services are under pressure to turn a profit. Businesses overspend on video capture because they are unaware of several aspects of the transmission of video material. Duplicating video content has become a common way of content generation worldwide.

Component Outlook

Based on component, the video management system market is segmented into Solution and Services (Managed services and Professional services). The solution segment procured the highest revenue share in the video management system market in 2021. It is a result of the deployment of numerous security solutions like RFID monitoring and vehicle number plate tracking, which allow for the integration of text- or barcode-reading systems with video management software.

Technology Outlook

On the basis of technology, the video management system market is classified into Analog-based VMS and IP-based VMS. Analog-based VMS segment recorded the highest revenue share in the video management system market in 2021. For organizations with pre-existing coax connections, analogue cameras are the best option because they are simple to install. Although analogue cameras with a resolution of up to 8MP are available, 3-5MP is more typical. Analog cameras, though, can be less expensive than IP cameras.

Deployment Type Outlook

By deployment type, the video management system market is bifurcated into On-Premises and Cloud. The cloud segment registered a significant revenue share in the video management system market in 2021. Offloading some administration responsibilities and maintenance costs to the service provider is possible with cloud deployment. Related to the scale, ownership, and access and the nature and function of the cloud, the cloud deployment model determines the particular sort of cloud environment.

Application Outlook

Based on application, the video management system market is fragmented into Mobile Application, Intelligent Streaming, Security and Surveillance, Storage Management, Data Integration, Case Management, Advanced Video Management & Video Intelligent, Custom Application Management and Others. Intelligent streaming segment recorded a significant revenue share in the video management system market in 2021. The video monitoring system has taken on increased significance inside the VMS system as a result of technological improvements and cloud computing. End customers are seeking more adaptable and intelligent video solutions that will enable them to successfully employ video data for more advanced analysis.

Vertical Outlook

By vertical, the video management system market is categorized into BFSI, Healthcare and Lifesciences, Retail, Telecom & IT, Manufacturing and Automotive, Energy & Utilities, Travel & Hospitality, Government and Public Sector, Education, Media and Entertainment, Transportation and Logistics, and Others. BFSI segment procured a significant revenue share in the video management system market in 2021. Banking institutions can detect, detect, and solve financial crimes more quickly and efficiently with the aid of video surveillance. The next level of financial surveillance is possible with security solutions that have intelligent security analytics & intelligence.

Regional Outlook

Region-wise, the video management system market is analyzed across North America, Europe, Asia Pacific and LAMEA. Asia Pacific procured a promising revenue share in the video management system market in 2021. Due to China's extensive installation of municipal surveillance networks to keep an eye on millions of citizens all across the country, the usage of security cameras in the area is anticipated to rise. New cities, manufacturing industries, and retail businesses have all grown as a result of the region's growing urbanization. The market for video management software is anticipated to be driven by the growing adoption of surveillance cameras in small and midsize enterprises, hospitality industries, airports, ATMs, banks, residential structures, and places of worship, among other locations.
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The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. is the forerunners in the Video Management System Market. Companies such as Axis Communications AB (Canon, Inc.), Johnson Controls International PLC, Schneider Electric SE are some of the key innovators in Video Management System Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Honeywell International, Inc., Schneider Electric SE, Axis Communications AB (Canon, Inc.), Johnson Controls International PLC, Hangzhou Hikvision Digital Technology Co., Ltd., Verint Systems, Inc., Genetec, Inc., Panopto, Inc., and Eagle Eye Networks, Inc.

Recent Strategies Deployed in Video Management System Market

Partnership, Collaboration and Agreement:

Jan-2022: Axis Communications came into a partnership with Wasabi Technologies, a Swedish manufacturer of network cameras, access control, and network audio devices for the physical security and video surveillance industries. This partnership aimed to provide cloud storage for AXIS Camera Station (ACS) VMS. Through this partnership, customers would capitalize on the top-class technology Axis offer with the added peace of mind wherein their video is fully safe and quickly available at a predictable price.

Jun-2018: Hikvision formed a partnership with Eagle Eye Networks, the leading global provider of cloud-based video surveillance solutions. This partnership aimed to offer the consumer an effortless and cyber-secure cloud video surveillance solution.

Apr-2018: Hikvision entered into a partnership with Milestone Systems, a developer open platform IP video management software. This partnership aimed to add lots of value to the competitive edge in the market, Prama Hikvision India would sell Milestone Video Management Software for the Indian market.

Product Launch and Product Expansion:

Jul-2022: Eagle Eye Networks released Eagle Eye Smart Video Search, a new feature for all users to develop searching for video as fast and simple as searching the web. Developed into the Eagle Eye Cloud VMS (video management system), Smart Video Search would enable consumers to fastly search over all cameras and all locations and quickly find the exact video they?re looking for, and easily share video clips.

Jul-2021: Hikvision launched its All-in-one Indoor Station product, a tablet device for converging security solutions in homes and offices. With the built-in Hik-Connect application, numerous Hikvision devices or sub-systems could be operated and supervised by the All-in-one Indoor Station.

Jun-2021: Prama Hikvision released the newly updated HikCentral Professional 2.0 security software. This software integrated feeds from various systems onto a single platform. HCP 2.0 could be configured to connect alarm and access control systems, video security devices, and more, comprising third-party systems via the OpenAPI for simple centralized management of various security and business applications.

Apr-2021: Axis Communications launched AXIS Camera Station Secure Entry. This latest capability is comprised at no additional cost by the new release of AXIS Camera Station video management software. This product is an easy and fully integrated end-to-end solution, which would integrate physical access control and video surveillance into one powerful platform.

May-2020: Panopto introduced Panopto Express, an easy, strong, and free tool to assist educators & professionals gather excellent presentations by easily visiting a website. Utilizing Panopto Express, anyone with a computer and a web browser would register better presentations & lectures, which would combine together screen & application captures, webcams, and other video sources into rich, engaging presentations.

Acquisition and Merger:

Jun-2022: Johnson Controls took over Tempered Networks, a zero-trust cybersecurity provider. This acquisition aimed to provide Johnson Controls the capability to offer zero trust security under the fabric of its OpenBlue secure communications stack, improving its vision of allowing fully autonomous buildings, which are inherently resilient to cyberattacks.

Apr-2022: Johnson Controls completed the acquisition of Security Enhancement Systems, a provider of mobile-based, keyless access control solutions. This acquisition aimed to allow Johnson Controls to provide keyless access control and data analytics to effectively secure specialized high-value, critical infrastructure.

Aug-2021: Verint took over Conversocial, a provider of social customer service software. This acquisition aimed to expand the digital-first capabilities of its cloud platform. The acquisition would expand Verint?s strong support for digital consumer engagement with connections to most of the commonly utilized messaging channels, involving Facebook Messenger, Apple Business Chat, WhatsApp, Twitter, and more.

Apr-2021: Panopto acquired Ensemble Video, makers of video management software for K-12, higher education, and enterprises. This acquisition aimed to support customers with a simple, advanced, and unified video management system. The Ensemble and Panopto teams would offer users an effortless migration path to a unified platform backed by the terrific support they would expect from both companies.

Dec-2020: Honeywell acquired Sine Group, an Australia-based software as a service (SaaS) company. This acquisition aimed to leverage Sine's technological know-how and expertise to develop a mobile extension of Honeywell Forge along with substantially improving the Connected Buildings portfolios to allow even greater levels of safety and productivity for occupants and their guests.

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Scope of the Study

Market Segments covered in the Report:

By Technology

Analog-based
IP-based
By Vertical
Retail
Telecom & IT
Manufacturing & Automotive
BFSI
Government & Public Sector
Healthcare & Life Sciences
Education
Energy & Utilities
Tourism & Hospitality
Transportation & Logistics
Others
By Component
Solution
Services
Professional

Managed

By Deployment Type
On-Premise
Cloud
By Application
Security & Surveillance
Storage Management
Data Integration & Case Management
Advanced Video Management & Video Intelligence
Custom Application Management
Mobile Application
Intelligent Streaming
Others
By Geography
North America
US

Canada

Mexico

Rest of North America
Europe
Germany

UK

France

Russia

Spain

Italy

Rest of Europe
Asia Pacific
China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific
LAMEA
Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

Rest of LAMEA

Companies Profiled
Robert Bosch GmbH
Honeywell International, Inc.
Schneider Electric SE
Axis Communications AB (Canon, Inc.)
Johnson Controls International PLC
Hangzhou Hikvision Digital Technology Co., Ltd.
Verint Systenetec, Inc.
Panopto, Inc.
Eagle Eye Networks, Inc.

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