(Wireless-NewsWire.Com, December 12, 2019 ) According to research report "Video Management Software Market by Type of Solution (Video Intelligence, Case Management, Advanced Video Management, and Mobile Application), Technology, Service, Deployment, Vertical, and Region - Global Forecast to 2021",VMS market size is expected to grow from USD 3.71 Billion in 2016 to USD 10.54 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.2% from 2016 to 2021.
Ease of deployment and increased use of IP videos, third-party integration with other digital business systems, increasing security concerns globally due to rising security threats, and increasing penetration of video surveillance in a wide range of applications are some of the driving forces for the VMS market.
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Advanced video management solution is expected to play a key role in the video management software market by 2021
The advanced video management is expected to have the largest market share in the VMS market during the forecast period. Video management is an important aspect of the video monitoring system. The basic function of video management is to collect videos and handle the recording, video routing, event management, & integration of other functionalities in the video monitoring system.
Internet Protocol (IP)-based technology is expected to dominate the video management software market by 2021
Among technologies, the IP-based segment is expected to grow at the highest CAGR in the VMS market during the forecast period. IP cameras drastically change the video surveillance system by offering a wide range of features, such as low price, high image resolution, and scalability. The increasing adoption of IP cameras by end-users and enterprise customers is one of the major drivers behind the growth of the VMS market. Open platform VMS supports IP cameras with onboard analytics, which provides more business intelligence for surveillance systems.
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Asia-Pacific (APAC) region is expected to grow at the highest rate in the video management software market
APAC is expected to grow at the highest growth rate in the VMS market during the forecast period. The end-users and enterprises customers are majorly adopting IP-based and cloud-based video surveillance solutions in the APAC region. A major focus on smart city projects and intelligent transportation systems, specifically in the emerging economies, such as China & India, may lead to rise in the demand for VMS applications. Transportation, sport stadiums, government, retail, and Banking, Financial Services, & Insurance (BFSI) appear to be the most attractive end-users for the VMS market.
The major vendors in the VMS market are AxxonSoft (Germany), Milestone Systems (Denmark), On-Net Surveillance Systems Inc. (U.S.), Aimetis Corporation (Canada), Exacq Technologies (U.S.), 3VR (U.S.), Verint Systems (U.S.), Genetec (U.S.), Salient Systems (U.S.), and March Networks (Canada).
Mr. Shelly Singh