SecurityWorldMarket

29/09/2019

Global video management software market to reach 4.79 B USD

San Francisco, Ca (USA)

The global video management software market size is expected to reach USD 4.79 billion by 2025, growing at a CAGR of 18.8% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc.

The growing adoption of video surveillance and monitoring software for applications such as facility protection, traffic management, and cross-border activities is the key driver contributing to the market growth. The software is majorly used for the unified management of multimedia content including collection & storage, playback, and streaming functionalities.

The market is anticipated to witness significant growth due to the increasing awareness of the benefits offered by VMS and growing investments in city surveillance as part of smart city projects. Moreover, the increasing adoption of High Efficiency Video Coding (HEVC), also known as H.265 video compression standard, coupled with the rising trend of integrating VMS with emerging technologies such as built-in intelligence and deep learning for video analytics is expected to boost the video management software market growth. A unified VMS enables customers to merge analog and IP videos and offers a cost-effective approach to businesses for expanding and improving their surveillance capabilities.

VMS can be integrated with multiple digital cameras depending on the requirements of the customer.The software enables customers to enhance situational awareness and monitoring capabilities. High resolution videos and imagery can also be used by government law enforcement agencies to identify, track, and arrest criminals.

IP-based VMS is anticipated to emerge as the fastest-growing segment over the forecast period due to the increasing number of government as well as corporate video surveillance projects

Analysts found that the cloud segment is anticipated to gain traction driven by companies offering Video Surveillance as a Service (VSaaS) for applications such as recording, flexible storage, and remote access and viewing as well as for enhanced cyber security solutions

The demand for a higher deployment of intelligent video surveillance systems by governments and enterprises is also driving the video anlaytics segment which is expected to experience high growth over the forecast period.

In terms of verticals, the government segment is expected to grow at the highest CAGR from 2019 to 2025. Numerous smart city initiatives along with multiple infrastructure development projects to support increasing urbanisation are anticipated to fuel the demand for VMS market

Key players identified by the research company as operating in the VMS market include Axxonsoft, Inc.; Qognify Inc.; Milestone Systems; Exacq Technologies, Inc.; Identiv, Inc.; Verint Systems; Magal Security Systems Ltd.; Genetec Inc.; Panasonic Corporation; Salient Systems Corporation; and March Networks.


Tags

Product Suppliers
Back to top