Video Management Software (VMS) Market size is anticipated to reach USD 30 billion by 2030, according to a new research report by Global Market Insights Inc.
Growing frequency of cybersecurity issues across businesses in various industry verticals will enhance the VMS demand. For instance, in October 2021, Canadian Internet Registration Authority reported that the volume of blocked cyberattacks recorded between July and September 2021 were 31% higher than the previous quarters in Canada. Canadian Internet Registration Authority blocked 2.2 million DNS requests in Q3 2021. The major video management software market participants are focusing on developing advanced & integrated video management software solutions.
Increasing demand for visual evidence to speed up crime investigations
The case management solution is expected to grow at over 25% CAGR through 2030 impelled by increasing penetration of surveillance cameras. Case management solutions simplify collaborations between agencies and public & corporate security departments to close investigations faster.
Browse key industry insights spread across 3320 pages with 377 market data tables and 44 figures & charts from the report, “Video Management Software (VMS) Market Size By Component (Solution [Advanced Video Management, Data Integration, Mobile Application, Custom Application Management, Case Management, Security Management], Services [Professional Services, Managed Services]), By Deployment Model (On-premise, Cloud), By Technology (IP-based, Analog-based), By Application (BFSI, Government & Defense, Healthcare, IT & Telecom, Education, Media & Entertainment, Retail), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030”, in detail along with the table of contents:
Increasing concerns regarding cloud data security
The on-premise deployment model segment accounted for more than 60% of the market share in 2021 led by growing concerns of data security in the cloud model. On-premise Video Management Software (VMS) solutions are suitable for managing the video surveillance of a single site. In an on-premise deployment model, different video devices & applications, such as streaming, recording, and management servers along with storage devices & applications, are installed locally on-site. This allows users to manage their security and the connected device ecosystem from the site itself. The integration of legacy hardware & software across multiple locations is a complex & costly task.
Increasing use of IP-based cameras across industries
The IP-based technology dominated with nearly 50% of the video management software market share in 2021 driven by increasing demand for IP-based cameras. IP-based video management software provides benefits such as enhanced image quality, remote & mobile monitoring, flexible & scalable systems, advanced intelligent videos, and low total cost of ownership. The IP network is a basic infrastructure for all businesses and organizations today. IP video surveillance enables organizations to monitor their physical assets from anywhere on the IP network through a computer at a remote site.
The growing need of video surveillance to protect national security
The government & defense industry held a market share of over 25% in 2021 on account of the growing need of video surveillance to protect national security. VMS solutions help to solve a set of tasks relevant to modern government facilities and enable governments to ensure safety and improve the efficiency of facilities.
The growing adoption of advanced surveillance systems in Asia Pacific region
Video management software market from Asia Pacific region is poised to generate more than USD 10 billion revenue by 2030. This growth can be attributed to the extensive development of advanced technologies in the region. Moreover, India and China are the most populous countries in the world. China has an extensive CCTV surveillance camera network across cities.
Focus on developing advanced video management software (VMS) solutions to gain a competitive advantage in the industry
Companies operating in the market are developing & designing more advanced Video Management Software (VMS) solutions to meet the customer demand.
Some of the market players operating in the video management software market include 3VR Security, Inc. (Identiv, Inc.), A&H Software House, Inc. (Luxriot.), Aimetis Corporation (Senstar), Avigilon Corporation (Motorola Solutions Inc.), Axis Communications AB (Canon Inc.), Axxonsoft, Inc., Bosch Security Systems LLC, Cathexis Technologies Pty Ltd, Cisco Systems, Inc., Exacq Technologies, Inc, Genetec Inc., Hanwha Techwin Co., Ltd, Hangzhou Hikvision Digital Technology Co., Ltd. (Hikvision), Honeywell International Inc, iMotion Security, Intelligent Security Systems, Inc. (ISS), Johnson Controls International Plc, Kedacom, March Networks Corporation, Milestone Systems A/S, Mindtree Limited, Netposa Technologies Ltd, Qognify Ltd., Panasonic Corporation, Pelco, Inc, Salient Systems Corporation, Verint Systems Inc, VIVOTEK Inc, and Zhejiang Dahua Technology Co., Ltd.
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