Reports And Data

Video Management Software Market Size – USD 9.81 Billion in 2021, Market Growth – at a CAGR of 22.1%, Market Trends – Rising demand of video surveillances

NEW YORK, NY, UNITED STATES, February 23, 2022 /EINPresswire.com/ -- Increasing penetration of video surveillance in a wide range of applications and rising security concerns due to growing security threats are driving video management software market revenue growth

The global Video Management Software Market size is expected to reach USD 59.23 Billion in 2030 and register a revenue CAGR of 22.1% over the forecast period, according to the latest report by Reports and Data. Growing concerns about security as well as the necessity for real-time video processing and monitoring are expected to drive the market revenue growth for Video Management Software (VMS). Increased need for intrusion and threat detection across government organizations, military, airports, and seaports is driving market revenue growth owing to IP-based VMS technology's improved features, such as high camera quality, lower cost, and scalability. Also, VMS technologies provide superior business analytics, which improves the monitoring system.

However, in underdeveloped and developing countries, lack of skilled technological expertise along with concerns about the storage of high-resolution videos and recordings, would hinder the market revenue growth. Also, rising privacy and data security concerns may hamper market revenue growth. Lack of a stable IT infrastructure in developing countries, as well as complexities in building, scaling, and configuring an IP system effectively, will hamper market revenue growth.

Companies profiled in the global video management software market report include Identiv, Inc., Genetec Inc., Milestone Systems A/S, A&H Software House, Inc., Senstar Corp., AxxonSoft., Bosch Security Systems, LLC., GeoVision Inc., imotion.ca, and Hangzhou Hikvision Digital Technology Co., Ltd.

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• By technology, IP-based segment is expected to grow at the fastest rate in terms of revenue share during the forecast period. IP cameras are revolutionizing video surveillance by providing a wide range of benefits, including low cost, excellent picture resolution, and scalability. One of the major drivers behind the revenue growth of the video management software market is the increasing use of IP cameras by end-use industries and businesses. The open platform video management software enables IP cameras with inbuilt analytics, which gives the surveillance system greater business insight.
• By type of solution, data integration segment held the largest revenue share in 2021 and is expected to grow at a faster rate during the forecast period owing to the adoption of various security solutions such as vehicle number plate monitoring and Radio Frequency Identification (RFID) monitoring, where the systems for text or barcode reading can be integrated with video management software. Also, mobile application segments are expected to register rapid revenue CAGR over forecast period due to the widespread use of video analytics in areas such as facial recognition, motion detection, and retail consumer analytics.
• By service, managed services segment is expected to grow at fastest rate over forecast period, owing to rising requirement to improve operational efficiency and reduce capital investment.
• Video management software market in Asia-Pacific is expected to grow at faster rate in terms of revenue share during the forecast period. End-use industries and businesses are mostly shifting towards cloud-based video management software in the region. A growing emphasis on smart city initiatives and intelligent transportation systems, particularly in China and India, may contribute to an increase in demand for video management software applications. The most appealing end-use for the video management software industry tend to be transportation, sports stadiums, government, city surveillance, retail, and Banking, Financial Services, and Insurance (BFSI). For example, in February 2020, China deployed modern technology such as AI-based facial recognition cameras and big data to follow COVID-19 cases.

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For the purpose of this report, Reports and Data has segmented the Video Management Software Market based on technology, service, end-use, type of solution, deployment type, and region:

Technology Outlook (Revenue, USD Million; 2019–2030)

• Analog-Based VMS
• IP-Based VMS

Service Outlook (Revenue, USD Million; 2019–2030)

• Professional Service
• Managed Service

End Use Outlook (Revenue, USD Million; 2019–2030)

• IT and Telecom
• BFSI
• Retail
• Healthcare & Life Sciences
• Government
• Manufacturing & Automotive
• Media and Entertainment
• Energy and Utilities
• Tourism and Hospitality
• Education
• Real Estate
• Transportation and Logistics
• Others

Solution Outlook (Revenue, USD Million; 2019–2030)

• Video Intelligence
• Case Management
• Advanced Video Management
• Data Integration
• Custom Application Management
• Intelligent Streaming
• Storage Management
• Security Management
• Mobile Application

Deployment Type Outlook (Revenue, USD Million; 2019–2030)

• On-premise
• Cloud

Regional Outlook (Revenue, USD Million; 2019–2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Reports and Data
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