Video management software (VMS) plays a crucial role in surveillance systems by enabling the recording, monitoring, and management of multiple camera feeds. VMS offers features such as tampering detection and motion detection, providing enhanced security and surveillance capabilities. With its ability to locate and connect to all IP cameras on the network, VMS ensures a reliable and secure connection, facilitating seamless integration and operation of surveillance systems. This drives the demand for VMS in the market, catering to the growing needs of organizations for robust and efficient video management solutions.
According to Data Bridge Market Research the Video Management Software (VMS) Market accounted for USD 6.9 billion in 2021 and is expected to reach USD 32.68 billion by 2029, registering a CAGR of 21.46% during the forecast period of 2022-2029.
“High security and surveillance features surge the market growth”
The security and surveillance industry is undergoing a transformation driven by technological advancements. There is an increasing demand for CCTV cameras, highlighting the growing concerns about security and surveillance. Leading companies offer a wide range of products, including high-resolution CCTV cameras with advanced features like night vision capabilities. The market for video management software is expanding to cater to the evolving needs of security and surveillance systems, providing efficient management and control of the increasing number of cameras and their functionalities.
What restraints the growth of the video management software (VMS) market?
“Lack of technical proficiency”
The lack of technical expertise and knowledge, particularly in underdeveloped economies, poses challenges to the smooth growth of the market. Limited awareness about video management software (VMS) and its benefits inhibits market expansion. Moreover, stringent regulations aimed at safeguarding public privacy can impede the growth rate as compliance requirements become more stringent. Overcoming these obstacles through education, training programs, and balanced regulations will be crucial for the sustained growth of the VMS market.
Segmentation: Video Management Software (VMS) Market
The video management software (VMS) market is segmented on the basis of organization size, component, technology, deployment, and vertical.
- On the basis of organization size, the video management software (VMS) market is segmented into small and medium-sized enterprises, and large enterprises.
- On the basis of component, the video management software (VMS) market is segmented into solutions, and services.
- On the basis of technology, the video management software (VMS) market is segmented into analog based video management software and IP based video management software.
- On the basis of deployment, the video management software (vms) market is segmented into cloud, and on-premises
- On the basis of vertical, the video management software (VMS) market is segmented into banking, financial services, and insurance (BFSI), government, healthcare and life sciences, manufacturing and automotive, retail, transportation and logistics, media and entertainment, telecom and information technology (IT), education, real estate, energy and utility, tourism and hospitality and others.
Regional Insights: North America Dominates the Video Management Software (VMS) Market
North America's dominance in the global video management software (VMS) market can be attributed to factors such as aging infrastructure, which creates a need for advanced surveillance systems. The region's growing adoption and deployment of IP-based surveillance and monitoring systems also contribute to its market leadership. Furthermore, the presence of major players in North America further strengthens its position in the VMS market.
Asia-Pacific is expected to experience the highest compound annual growth rate (CAGR) in the forecast period. This growth is driven by the increasing adoption of cloud-based VMS solutions in countries like China and India, where investments in infrastructure development are on the rise. The focus on infrastructure investment in these nations promotes economic growth and provides opportunities for the expansion of the VMS market in the region.
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Recent Developments in Video Management Software (VMS) Market
- In July 2021, Bosch introduced the FLEXIDOME panoramic 5100i camera series, offering indoor and outdoor variants with high-resolution options and a fish-eye lens. The cameras feature built-in microphones for enhanced audio capture and monitoring capabilities.
- In April 2021, Bosch unveiled the FLEXIDOME multi 7000i camera family, which includes variants with high-resolution options and comprehensive multidirectional coverage. The cameras enable detailed monitoring and surveillance in various environments.
The Prominent Key Players Operating in the Video Management Software (VMS) Market Include:
- Robert Bosch GmbH (Germany)
- Hanwha Techwin Co., Ltd. (South Korea)
- Honeywell International Inc. (U.S.)
- Schneider Electric (France)
- Axis Communications AB (Sweden)
- Johnson Controls (Ireland)
- Hangzhou Hikvision Digital Technology Co., Ltd. (China)
- NetApp (U.S.)
- Dahua Technology USA Inc. (China)
- KEDACOM (China)
- Verint Systems Inc. (U.S.)
- Mindtree Ltd. (India)
- AxxonSoft. (U.S.)
- eInfochips (U.S.)
- Avigilon Corporation (Canada)
- Panasonic Corporation (Japan)
- Panopto (U.S.)
- Backstreet Surveillance (U.S.)
- Eagle Eye Solutions Group Plc. (U.S.)
- Arcules, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of video management software (VMS) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Video Management Software (VMS) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
