by The global Video Management Software (VMS) market is experiencing unprecedented growth, driven by the escalating security concerns across various sectors. VMS enables users to collect, store, and access video streams, offering real-time security monitoring and playback capabilities from various locations, including on-site, centralized, or mobile platforms.
The Smart Evolution of Video Management Software
Higher-end VMS systems now integrate alarms and sensor data from multiple sources, enhancing security personnels ability to respond swiftly to potential threats. This integration of video, access control, audio, and other systems into a single point of control simplifies security management and increases effectiveness, making VMS a crucial component of modern security infrastructures.
Surveillance Systems on the Rise
The growing adoption of video management software has paralleled the popularity of surveillance systems. Governmental and private institutions, residential communities, commercial venues, and public spaces are increasingly using surveillance technology to monitor activities for security and safety reasons. In 2021, the surveillance technology market reached a value of over 90 billion dollars, encompassing big data and video surveillance technologies.
Intelligent Cameras and IoT Integration
Intelligent cameras leveraging computer vision, machine learning, and automation, combined with the integration of network-enabled cameras with IoT devices, are transforming traditional surveillance into intelligent security systems. These advancements are vital in safeguarding critical infrastructure and preventing security breaches.
Case Management Solution Enhancing Efficiency
The demand for visual evidence to expedite criminal investigations is propelling the growth of the VMS market. Case management solutions are becoming essential tools for public and corporate security teams, streamlining collaboration and ensuring secure access to evidence data. This eliminates the need for duplicating evidence, saving both time and resources.
North America Leads the Way
North America currently dominates the global video management software market due to its advanced technologies, declining equipment costs, and widespread adoption of IP-based solutions. The United States, in particular, maintains its dominance, offering substantial growth opportunities in the video management software sector.
Asia Pacifics Rapid Growth
The Asia Pacific region is expected to witness over 20% growth in the VMS market, driven by the development of cutting-edge video technology and increased demand in sectors such as healthcare and defense. Initiatives by governments, like Chinas use of AI-based facial recognition and surveillance systems during the COVID-19 pandemic, are contributing to the expansion of the market.
Competitive Landscape
Leading players in the global video management software market are forging new partnerships, alliances, and product launches to stay competitive. For instance, Agent Vi, a prominent provider of AI-powered video analytics, was recently acquired by Irisity AB, while Axis Communications AB expanded its VMS solution to support external audio devices and network speakers, enhancing the reliability of its video surveillance devices.
Prominent players in the global video management software market include:
- Cisco Systems, Inc.
- Aimetis Corporation
- Milestone System A/S
- Verint System
- Honeywell International, Inc.
- Bosch Security System
- Schneider Electric Industries SAS
- O-Net Surveillance Systems Inc.
- 3VR Inc.
- Verint Systems, Inc.
As security threats continue to evolve, the video management software market is poised for sustained growth, offering innovative solutions to safeguard businesses and communities worldwide.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/video-management-software-market
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This press release first seen on Brilad
COMTEX_442108605/2840/2023-10-19T04:37:36
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.