The global video
management system market
size is expected to grow from USD 10.9 billion in 2022 to USD 31.0 billion by
2027, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period.
With advancements in technologies and cloud computing, the video
monitoring system has become more important in the VMS system. End users are
looking for more flexible and intelligent video solutions which help them use
video data for more advanced analysis effectively.
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Leading Companies in Video Management System Market:-
·
Bosch (Germany)
·
Hanwha Techwin Co
(South Korea)
·
Honeywell
International (US)
·
Schneider Electric
(France)
·
Axis Communications
(Sweden)
·
Johnson Controls
International (Ireland)
·
Hikvision Digital
(China)
·
Netapp (US)
·
Dahua Technology
(China)
·
Kedacom (China)
Intelligent Streaming segment to grow at the highest
market share during the forecast period
The intelligent streaming solutions, based on the
combination of the streaming video and VMS platform, offer an integration
scheme for capturing video data, such as video content, video retrieval, and
video playback. Basically, intelligent streaming is the process of detecting
video network conditions and automatically adjusting the properties of a video
to improve the quality of the VMS system. In video streaming, end users do not
have to download the video; instead, they can view it online on the web browser
or mobile app. The companies are offering various features in the intelligent
streaming solutions: video recording, web board, layout screen, video wall,
auto discovery, failover and redundancy, multi-streaming, live and recorded
video viewing, real-time viewing, and fast access to live and recorded videos.
Its advanced features include zoom functionality in a live and recorded video,
an object navigator, and a graphical timeline.
Retail segment is expected to grow at a highest market
share during the forecast period
In the retail industry, a video surveillance system
has proved to be extremely useful. The retail verticals mission is to increase
client retention by providing high-quality services. The retail vertical
includes shopping malls, small retail stores, and shopping complexes that
operate in high-traffic areas. Customers are always present in shopping
centers. As a result, an attacker can easily spread the infection. Physical
acid surveillance, on the other hand, is crucial for them. As a result, mobile
video surveillance is a critical component in the retail industry, where the
risk of theft and scams is extremely high. Employee and customer theft, missing
goods, and shoplifting are the most common types of scams. The video
surveillance software not only provides a secure environment for customers and
employees but also assists stakeholders in integrating their POS and ATM
systems with the VMS platform to achieve higher levels of quality in the
business process. To manage stores that are geographically distributed, retail
stakeholders can now adopt cloud-based VMS solutions.
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North
America region to record the second highest CAGR in the video management system
market
North
America tops the world in terms of the presence of security vendors and the
occurrence of security breaches. Therefore, the global video management
software market is dominated by North America, which is considered the most
advanced region with regard to technological adoption and infrastructure. The
growing concerns about the protection of critical infrastructure and national
borders have increased government intervention in recent years. Specific budget
allocations, such as the budget for The Department of Homeland Security, and
mandated security policies are expected to make North America the most
lucrative market for vendors from various verticals. The North American market
covers the analysis of the US and Canada. The protection of critical infrastructure
is the most serious economic and national security challenge for the
governments of both countries. Many governments and law enforcement agencies in
the US and Canada are taking initiatives for strengthening their security
infrastructure. The US and the Canadian governments are continuously working
with law enforcement agencies to prevent violent extremism and counter
terrorism-related incidents in their respective countries.
Top Key
Players:
Key and
innovative vendors in the video management system market are Bosch (Germany),
Hanwha Techwin Co (South Korea), Honeywell International (US), Schneider
Electric (France), Axis Communications (Sweden), Johnson Controls International
(Ireland), Hikvision Digital (China), Netapp (US), Dahua Technology (China),
Kedacom (China), Verint Systems (US), Mindtree (India), Axxonsoft (US),
eInfochips (US), Avigilon Corporation (Canada), Panasonic i-PRO Sensing
Solutions (US), Panopto (US), Backstreet Surveillance (US), Eagle Eye (US),
Arcules (US), Rhombus (US), ButterflyMX (US), Qumulex (US), Hakimo (US),
Sighthound (UK), Camcloud (Canada), Pelco (US), Genetec (Canada), Verkada (US),
Milestone Systems (Denmark), identiv (US), March Networks (Canada), IndigoVision
(US), Qognify (US), Senstar (Canada), Exacq technologies (US), and American
Dynamics (US).
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