The Video Management Software (VMS) market has seen critical patterns and changes as of late, mirroring the unique idea of the video reconnaissance industry. As associations progressively focus on security and observation, the interest for cutting edge VMS arrangements has flooded, driving striking market patterns.
One noticeable pattern is the shift towards cloud-based VMS arrangements. Customary on-premise frameworks are being supplanted by cloud-based other options, offering improved adaptability, adaptability, and openness. Cloud-based VMS permits clients to oversee and store video information safely in the cloud, empowering remote access and diminishing the requirement for broad on location equipment. This pattern lines up with the more extensive industry development towards cloud advancements, offering practical arrangements and smoothing out support processes.
One more vital pattern is the coordination of Man-made reasoning (simulated intelligence) and examination inside VMS stages. As the volume of video information keeps on developing, simulated intelligence controlled examination assume an essential part in separating significant experiences from this information. VMS arrangements furnished with simulated intelligence capacities can consequently investigate video content, recognize oddities, and give ongoing cautions. This upgrades safety efforts as well as works on functional effectiveness via robotizing certain checking and examination undertakings.
Interoperability and open-stage VMS arrangements have become progressively significant in the market. Clients are looking for VMS stages that can consistently coordinate with an assortment of outsider gadgets and frameworks, for example, cameras, access control frameworks, and examination instruments. Open-stage VMS takes into consideration more noteworthy customization and adaptability, empowering clients to fabricate far reaching security biological systems that take special care of their particular requirements.
Portable similarity is arising as a vital pattern in the VMS market. With the multiplication of cell phones and tablets, clients are requesting VMS arrangements that offer portable access and control. This permits security staff and directors to screen and oversee video benefits from the go, upgrading in general responsiveness and situational mindfulness. Versatile similarity is turning into a standard element, mirroring the developing assumptions for end-clients with regards to openness and comfort.
Network safety concerns are driving the reception of hearty security highlights inside VMS arrangements. As video observation frameworks become more interconnected, the gamble of digital dangers increments. VMS suppliers are focusing on the execution of cutting edge safety efforts, like encryption, multifaceted verification, and secure correspondence conventions, to shield against unapproved access and information breaks.
The Little and Medium-sized Ventures (SMEs) portion is seeing a flood in VMS reception. As innovation turns out to be more reasonable and easy to use, SMEs are perceiving the benefit of carrying out video observation answers for upgrade their security act. VMS suppliers are answering by offering downsized variants of their foundation with improved on interfaces, making them more available to more modest organizations.
Report Attribute/Metric | Details |
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Market Opportunities | The rising demand for video surveillance and surveillance of international borders and increasing requirements for facial recognition systems to monitor infected individuals are expected to raise market revenue |
Market Dynamics | The widespread increase in the need for surveillance solutions across the globe between several verticals and the substantial growth in digitalization paved the way for the growth of IP video management systems. |
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
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.
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.
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.
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.
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
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
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.
Avigilon Corporation
Bosch GmbH
Axis Communications AB
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 intelligence/analytics
Case Management
Navigation Management
Analog-based
IP-based
Cloud-based
On-premise
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
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