Video Management Software (VMS) Market Report, Trends, Size, Share, Analysis, Estimations and Forecasts to 2022
According to Stratistics MRC, the Global Video Management Software (VMS) Market is accounted for $3.82 billion in 2016 and expected to grow at a CAGR of 24.7% to reach $14.4 billion by 2022. Factors such as increasing penetration of video surveillance, increasing large scale security network, increasing government spending in security sector and large infrastructure are driving the market growth. However, storage of high-resolution videos and recordings and issues related to privacy will hinder the market.
Advanced Video Management solutions segment accounted for largest market share during the forecast period because large numbers of end-users are adopting video surveillance systems. IP-based segment is projected to grow at the highest rate in technology segment. Asia Pacific is the fastest growing market owing to development of smart city projects and intelligent transportation systems, especially in China & India.
Some of the key players in global Video Management Software (VMS) market are AxxonSoft, Aimetis Corporation, Bosch Security Systems, Cisco Systems, Inc, Exacq Technologies, Inc, Genetec, Inc, Hanwha Techwin CO., LTD, Honeywell International, Inc, March Networks Corporation, Milestone Systems A/S, On-Net Surveillance Systems, Inc, Schneider Electric Industries SAS, Surveon Technology, Inc and Verint Systems, Inc.