- Increasing penetration of video surveillance is driving the video management software market.
- High initial costs and large storage needs may restrain growth.
- Asia Pacific is projected to emerge as the fastest growing VMS market.
Video management software (VMS) is a component security camera system, specifically designed for processing, storing and managing signals for more than one camera feed. Video management software is expected to witness robust market growth owing to factors such as an increasing security concerns and escalating demand for high quality video processing. The rising popularity of video surveillance systems is anticipated to be one of the most prominent factor for the VMS market growth. Remote monitoring and growing demand for seamless access to live and recorded videos on mobile devices also influences the market maturity.
Due to substantially increasing terror activities, security cameras have been into high demand for public places, transportation, commercial and several other sectors. Thus, accelerated video management market growth. Video management software also offers multi-view feature in single recorded stream, thereby pushing its demand in military & defense sector. However, cyber security and large data handling are few challenges for market growth.
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Video management software, by technology, is segmented into IP-based and analog-based VMS. The IP-based video management software is currently a fastest growing solution in video management market by offering high image resolution and scalability along with low price. IP-based segment is also expected to continue its dominance during the forecast period from 2018-2026. Increasing demand for IP-based VMS is one of the most prominent factor driving video management software market.
Further, VMS market is also segmented by deployment type, into on-premises and cloud based VMS. High installation cost of devices majorly hamper on-premised video management software market. With increasing penetration of cloud-based services across numerous applications, the cloud-based VMS segment is set to register high growth over the forecast period. Cloud-based solutions are gaining momentum since they eliminate initial investment on hardware and provide higher flexibility.
Asia Pacific is projected to emerge as the fastest growing VMS market owing to developing commercial and domestic infrastructure through smart city projects, especially in India and China. North America is also expected to witness steady growth during the forecast timeline due to growing adoption of video surveillance systems. Growing attention on smart city projects along with intelligent transportation systems, especially in developing countries, such as India and China, is anticipated to surge the video management software market demand.
Major drivers of video management software market:
- Increasing penetration of video surveillance
- Increasing large scale security network
- Rising government spending in security sector
Major restraint of video management software market:
- High initial costs
- Large storage need for high resolution videos and recordings
- Privacy issues
The global video management software market is segmented on the following basis:
- Deployment Models
- End user:
- Banking, Financial sectors and Insurance (BFSI)
- Retails & Hospitality
- Transportation & Logistics (Buses, trains, Airports, Railway Stations etc.)
- Media & Entertainment
- Corporate Enterprises
- Military & defense
- Telecom & IT
- Others (Residential and commercial, traffic monitoring etc.)
- North America
- Asia Pacific
- Rest of the World (RoW)
Key players identified in video management software market include but are not limited to:
Milestone System A/S (develops and produces world’s leading IP based video management solutions), Cisco Systems, Inc., , Schneider Electric Industries SAS, Verint Systems, Inc., Honeywell International, Inc., Bosch Sicherheitssysteme GmbH, Almetls Corp., AxxonSoft,Inc., Genetec Inc., Salient Systems, On-Net Surveillance Systems, Inc., 3VR Inc., Verint Systems, Inc. and other.