Video Management Software (VMS) Market Size

Video Management Software Market Size

Video Management Software Market size exceeded USD 4 billion in 2021 and is estimated to grow at over 20% CAGR from 2022 to 2030.

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Government initiatives for national security and public safety during activities including terrorist attacks and global outbreaks including COVID-19 are expected to facilitate the consistent market growth. The rapid proliferation of advanced technologies, such as computer vision and video analytics, will contribute largely toward reshaping the industry dynamics.

Due to the COVID-19 pandemic, organizations witnessed increased stress on the security of physical & capital assets. High-performance enterprise-grade video management software can help security agencies with facial recognition, vehicle license plate information, and behavioral analytics to highlight a person of interest. This solution also helps federal agencies in efficiently securing and analyzing tamper-proof surveillance videos for digital forensics.

The Russia-Ukraine war has adversely affected the supply chain of semiconductor chips, which are required in the backend hardware of VMS such as IP cameras and DVR. Russia manufactures several raw materials for surveillance camera chips such as aluminum, zinc, silver, and others. As of March 2022, Russia has a control of 3% - 4% of copper, 6% - 7% aluminum & nickel, and 14% - 15% of platinum. The disruption of raw materials will moderately affect the VMS market statistics.