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Video Management Software Market Statistics 2020 | Industry Growth, Share & Regional Forecast To 2026

Author : Ronak Bora | Published Date : 2020-09-15 

Global video management software market will be prominently driven by growing concerns for data theft, threat detection and intrusion of crucial information. Increase intrusion of surveillance systems is fueling the need to manage these systems with the aid of video management solutions. Rising security concerns are prompting companies to develop VMS with advanced video processing capabilities, which is likely to encourage product adoption in the forthcoming years.

VMS solutions offer advanced capabilities to monitor and manage extensive surveillance devices. It also provides access to diverse data stored and collected through surveillance devices. Moreover, this software boasts of built-in advanced technologies including facial recognition, artificial intelligence and video analytics, which in turn aids in simplifying complex application processes in surveillance systems.

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The IP-based technology segment held a substantial share in the video management software market with a growth rate of over 20% CAGR from 2020 to 2026. The demand for IP-based CCTV devices and systems is increasing across established corporate enterprises due to flexibility and remote accessibility to these devices. These CCTV cameras can store surveillance data both on device and cloud storage simultaneously. As these devices can be accessed over internet, they help in eliminating the need for an additional network infrastructure.

The adoption rate of VMS solutions across the retail sector is expected to grow significantly from 2020 to 2026. The companies operating in the retail sector focus on expanding their market growth by building large store premises. In addition, these companies deploy multiple CCTV cameras for monitoring overall premise and preventing possibilities of theft and loss. The VMS solution enhances the operational efficiency of these devices, enabling active monitoring.

Video management software market is segmented in terms of component, deployment model, technology, application, and regional landscape. Based on component, the VMS market is divided into solution and service. The solution segment is further divided into mobile application, advanced video management, case management, storage management, and data integration. The data integration segment is likely to witness a CAGR of over 18% through the forecast timeframe since smart city projects require data integration solutions to improve the city surveillance. The mobile application segment will observe a CAGR of over 20% over 2020-2026 as these solutions gives security agencies with remote access to recorded & live videos.

The service product segment is divided into managed services and professional services. The managed services segment will observe a CAGR of nearly 25% through the projected timeframe owing to the high adoption of external expertise by enterprises to manage complex VMS solutions. The professional services held a market share of over 75% in 2019 as these services ensure smooth and fast deployment of new solutions.

With respect to application, the video management software market is bifurcated into tourism and hospitality, government & defense, retail, BFSI, IT & telecom, education, and healthcare. The BFSI sector will witness a CAGR of 18% over 2020-2026 due to the need to improve the security of different branches of financial institutions and banks. The healthcare sector recorded a market share of around 12% in 2019 as hospitals and healthcare institutes are deploying VMS solutions to protect expensive and critical healthcare equipment.

The IT & telecom sector is likely to observe a CAGR of over 16% over the forecast time period as Telco's are deploying different VMS solutions to protect their business facilities. The tourism and hospitality segment will witness a CAGR of 21% through the analysis period due to increasing use of video surveillance for increasing the safety of tourist.

From a regional frame of reference, the Latin America video management software market will register a CAGR of nearly 15% over 2020-2026 as the extensive penetration of data center facilities are driving the demand for VMS solutions for facility protection. The MEA VMS market held a market share of around 6% in 2019 attributed to presence of luxury restaurants and international tourist visits.

North America video management software market is expected to show steady growth rate over the forecast timeline. The companies operating in the advanced security sector in the region are focusing on enhancement and development of advanced surveillance devices. For instance, in July 2019, Honeywell International unveiled 30 series IP-based cameras for enterprises customers. These cameras can be deployed over multiple locations to cover specific areas. Enterprises are integrating VMS solutions with existing surveillance systems to help them access and monitor overall operations.

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The companies operating in the video management software market are focusing on development of advanced VMS solutions. VMS vendors are laying stress on new innovations and enhancement in their VMS solutions. This is expected to drive the demand for VMS for a robust surveillance infrastructure. For instance, in March 2020, BriefCam enhanced its video analytics solutions with license plate recognition and cross platform deployment capabilities. It also featured people counting technique and mobile application. This helped the company to offer advanced video analytics solutions for video investigation and other applications.

Table of Contents (ToC) of the report:

Chapter 5    Video Management Software Market, By Component

5.1    Key trends, by component

5.2    Solution

5.2.1    VMS solution market

5.2.2    Advanced video management    Advanced video management market

5.2.3    Data integration    Data integration market

5.2.4    Case management    Case management market

5.2.5    Mobile application    Mobile application market

5.2.6    Storage management    Storage management market

5.2.7    Others    Others market

5.3    Service

5.3.1    VMS service market

5.3.2    Professional service    Professional services market

5.3.3    Managed service    Managed services market

Chapter 6    Video Management Software Market, By Deployment Model

6.1    Key trends, by deployment model

6.2    On-premise

6.2.1    On-premise market

6.3    Cloud

6.3.1    Cloud market

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/video-management-software-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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