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Video Management Software Market Overview
Video Management Software Market Size was valued at USD 12.5 billion in 2021. The Video Management Software market industry is projected to grow from USD 14.9 billion in 2022 to USD 53.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.82% during the forecast period (2022 - 2030).
The expanding use of video surveillance for purposes including facility protection, monitoring applications, and cross-border activities are the main market drivers for the video management software industry.
Figure 1: Video Management Software Market Size, 2022-2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Latest Industry News of Video Management Software Market
February 2023:
The AI security system, called VAST Security Station (VSS), will be formally introduced in March, according to IP video surveillance company VIVOTEK. Users can choose from three different levels of the system: VSS Lite, VSS Standard, and VSS Professional. In order to perform precise facial recognition and vehicle identification in real-time with integrated security cameras, the VSS platform blends cutting-edge artificial intelligence (AI) with edge computing technologies, according to Vivotek. 20,000 cameras may be managed simultaneously, and it provides a variety of intelligent image analysis features for improved query accuracy and data security.
VSS is a user-friendly AI security solution. Users can quickly set up substations, add more cameras to the network, and even enable real-time audio transmission thanks to the straightforward and highly customizable interface. The administration of videos has truly advanced with this.
The result of combining their video management software with the most recent AI analysis technology, Vivotek's VSS is their next-generation network surveillance system. In a press release, the company claimed that its AI analytics make incident prevention and post-event evidence a snap.
April 2023:
Open video management software supplier Milestone Systems has announced that its Milestone Kite cloud service will debut in Australia and New Zealand (ANZ) in April.
Milestone Kite is a scalable, easy-to-use video security as a service (VSaaS) that is powered by Arcules. The cloud-based solution is particularly made for larger organizations with several satellite and remote sites and small- to medium-sized firms.
Milestone Kite is the organization's newest cloud product, and it was first unveiled at the Milestone Partner Summit in the autumn of 2022. It is designed specifically for clients and customers who need a cloud-based VSaaS solution that is quick to build, easy to use, requires little bandwidth, is scalable across locations, and is secure.
Video Management Software Market Trends
Rising security survelliance to propel market growth
The market for video management systems is predicted to rise in the future due to an increase in security surveillance. Monitoring behavior and actions for the purposes of information gathering, persuasion, and management is referred to as surveillance. The data broadcast from various surveillance equipment, such as security cameras, is managed by the video management system. The user can gain important insights from the surveillance site and view real-time videos, record, save, and playback recorded videos with its assistance. For instance, according to a piece written in August 2022 by EarthWeb, a US-based provider of internet-based online services, there are 15.28 cameras deployed in the US for every 100 individuals, compared to 14.36 in China. The market for video management systems is expanding as a result of an increase in security surveillance.
In the market for video management systems, technological development is a major trend. To maintain their position in the industry, the major players are launching new technology. To meet the unique physical security requirements of organisations, Qognify, a US-based software company, introduced Qognify VMS, new video management software, in April 2022. Qognify VMS stores video data in the cloud. This enables users to take advantage of cloud technology's resilience, quickly grow storage space, and minimise the hardware footprint. Thus, this factor is driving the market CAGR.
A crucial element of the security architecture is video management software. It makes it possible to process and examine video that was gathered by their security cameras. Using artificial intelligence and machine learning-based technologies, it offers intelligent video search, data and storage management, tracking, and identification. Due to the sharp rise in crime rates around the world, there has been an increase in demand for surveillance systems. Governments are implementing sophisticated surveillance systems with video management software as a result. The Nirbhaya Fund project in Bengaluru will be led by Honeywell, according to an announcement made by the Indian government's Ministry of Home Affairs in October 2021. The project for Bengaluru Safe City is about US$ 67 million.
In order to handle the data gathered, the video system will offer powerful video analytics, such as facial recognition, a "Dial 100" application, drones, and video management software. As a result, the necessity for public security and the rising crime rate have forced governments to embrace video management software solutions, which has fueled the expansion of this industry. Thus, it is anticipated that this aspect will accelerate Video Management Software market revenue globally.
Video Management Software Market Segment Insights
Video Management Software Solution Insights
The Video Management Software market segmentation has been segmented by solution into Video Intelligence/Analytics, Case Management and Navigation Management. The video intelligence/analytics segment dominated the market growth in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Solutions like traffic monitoring and management, transportation and logistics, and retail consumer analytics all heavily rely on video analytics. Additionally, video analytics is employed for perimeter monitoring using virtual tripwires, people counting, facial recognition, and motion detection.
Video Management Software Technology Insights
The Video Management Software market segmentation has been segmented by technology into Analog-based and IP-based. The IP-based segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Video surveillance is being revolutionized by IP cameras because of their many benefits, including their low cost, exceptional image quality, and scalability. One of the major reasons propelling the market's revenue growth is the increasing adoption of IP cameras by end-use businesses and industries.
Video Management Software Deployment Insights
The Video Management Software market data has been segmented by deployment into Cloud-Based and On-Premise. The on-premise segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Users can deploy the software to their workstations or servers inside the facility and integrate several cameras that have been installed on a site with an on-premise VMS system.
Figure 2: Video Management Software Market by deployment, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Video Management Software Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America Video Management Software market accounted for USD 5.3 billion in 2021 and is expected to exhibit a 42.90% CAGR during the study period. One of the key factors influencing the demand for video management software in North America is the existence of a strong partner ecosystem made up of resellers, distributors, consultants, and integrators, along with the increased adoption of emerging technologies like big data analysis, cloud computing, IoT, AI, and other analytical tools.
Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: VIDEO MANAGEMENT SOFTWARE MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Asia Pacific Video Management Software market accounts for the fastest growing market share due to the growing use of cloud-based VMS in developing nations like China and India. The market is expected to be driven by the growing use of video management software in smart city projects for solutions like traffic monitoring, surveillance, and intelligent transportation systems, especially in developing nations like China and India. Further, the China Video Management Software market held the largest market share, and the India Video Management Software market was the fastest-growing market in the region.
Europe Video Management Software market is expected to grow at a substantial CAGR from 2022 to 2030. This can be attributed to both the region's expanding use of top-tier IP-based oversight and surveillance technology and the presence of key industry participants. Moreover, UK Video Management Software market held the largest market share, and the Germany Video Management Software market was the fastest-growing market in this region
Video Management Software Key Market Players & Competitive Insights
Major market players are spending a lot on R&D to increase their product lines, which will help the Video Management Software industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.
One of the primary business strategies manufacturers adopt in the Video Management Software industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, Video Management Software industry has provided medicine with some of the most significant benefits. The Video Management Software market major player such as Avigilon Corporation, BCD Video, Bosch GmbH, Dahua Technology Co and Axis Communications AB.
German multinational engineering and technology business Robert Bosch GmbH, also known as Bosch and styled as BOSCH, is headquartered in Gerlingen, Germany. Robert Bosch established the business in Stuttgart in 1886. The charity organisation Robert Bosch Stiftung owns 92% of Bosch. In April 2021, Bosch launched the 12- or 20-megapixel FLEXIDOME multi/0001 camera family, which includes IR and non-IR versions. It generates extraordinarily thorough multidirectional overviews.
Chinese business Dahua Technology USA Inc. has its main office in Hangzhou's Binjiang District. The business makes equipment for video surveillance. PTZ cameras, HDCVI cameras, HDCVI recorders, network recorders, network cameras, explosion-proof & anti-corrosion, and thermal cameras are among the company's products. Additionally, the business offers solutions for the construction, banking & finance, traffic, and other industries.
Key Companies in the Video Management Software Market Includes
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Avigilon Corporation
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Bosch GmbH
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Axis Communications AB
Video Management Software Industry Developments
The Milestone Kite cloud solution will debut in Australia and New Zealand (ANZ) in April of 2023, according to Milestone Systems, a developer of open video management software. Milestone Kite is a straightforward, safe, and scalable video security as a service (VSaaS), powered by Arcules. Small- to medium-sized businesses and larger organisations with several satellite and remote sites are the main target market for the cloud-based solution. The newest cloud product from the company, Milestone Kite, was first unveiled at the Milestone Partner Summit in the autumn of 2022. It is specifically designed for clients and customers seeking a cloud-based VSaaS solution that is quick to set up, straightforward to use, bandwidth-light, scalable across locations, and secure.
Veracode, a company that offers intelligent software security solutions, will introduce Veracode Fix in 2023. Veracode Fix recommends fixes for security problems discovered in code and open-source dependencies after being trained using Veracode's proprietary dataset.
In 2022, Spectrio, one of the country's top suppliers of complete digital signage solutions, will introduce its newly revamped Spectrio Cloud content management system, the company stated today. The brand-new Spectrio Cloud CMS offers an improved user experience, allowing customers to build and manage all of their digital experiences and Spectrio products through a single platform. It was developed in response to years of user input. The company's aim to develop a unified software solution for its customer engagement products and services is advanced with the launch of the new Spectrio Cloud CMS.
Apr.10, 2023: Hexagon, a leading provider of a truly comprehensive proposition to optimize and safeguard organizations, announced the completion of its acquisition of Qognify, a video management software provider, to expand its monitoring and security portfolio. Qognify provides VMS and enterprise incident management (EIM) solutions. The acquisition extends Haxagon's real-time monitoring and security reach in detecting, assessing, and responding to incidents, providing a more robust offering.
Apr.05, 2023: Anviz, a leading provider of smart security solutions, presented its latest innovative integrated security solutions, including access control, time and attendance, and surveillance solutions, at ISC West 2023, held from Mar. 29 to 31, 2023.
Anviz's latest security and biometric technology innovations can help organizations improve their security & safety and streamline their access control & time and attendance processes. Its solutions are designed to help businesses and organizations protect their assets, streamline their operations, and improve their overall security posture.
Jan. 04, 2023: Safety Vision, LLC launched a new video management software, SafetyNET 5 (SN 5), a new generation platform for fleet video management. In addition to offering an alternative to existing video management software, the new SN 5 solution can provide the highest level of security and the ability to add or enhance features as needs change. Additionally, SN 5 has been verified with industry-leading testing, scanning, and analysis tools, Veracode.
Video Management Software Market Segmentation
Video Management Software Solution Outlook (USD Billion, 2018-2030)
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Video intelligence/analytics
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Case Management
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Navigation Management
Video Management Software Technology Outlook (USD Billion, 2018-2030)
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Analog-based
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IP-based
Video Management Software Deployment Outlook (USD Billion, 2018-2030)
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Cloud-based
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On-premise
Video Management Software Regional Outlook (USD Billion, 2018-2030)
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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