According to MRFR, the global market for video management software (VMS) is assessed to reach USD 53.1 billion by 2030, recording a 19.82% CAGR during the forecast period 2022–2030.
The growing use of IP (Internet Protocol) video, the increasing number of security breaches, and the increasing adoption of video surveillance solutions across various verticals in the industry are the primary drivers of market growth. However, the growing adoption of the Video Management Software Market for the integration of VMS with CCTV cameras, intrusion detection systems, and video analytics applications by small and medium-sized enterprises also promotes market growth. Easy installation, on-site and cloud deployment, quicker access to videos through web clients or mobile clients, and centralization of video surveillance operations for different geographic locations are some other factors driving the market growth. Concerns regarding privacy among individuals, issues related to storing high-resolution video recordings, and lack of bandwidth in remote locations present a challenge to market growth in the years to come.
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MRFR distinguishes the key players in the global video management software market as AxxonSoft Inc. (Germany), Qognify Inc. (US), Genetec Inc. (US), Verint Systems (US), Salient Systems (US), 3VR (US), Aimetis Corporation (Canada), Exacq Technologies (US), Surveon Technology Inc. (Taiwan), March Networks (Canada), GeoVision Inc. (Taiwan), iMotion Security Inc. (Canada), Milestone Systems Inc. (US), Video Insights Inc. (US), and Mindtree Limited (India).
In this report, the global video management software market has been segmented based on solution, technology, organization size, deployment, vertical, and region. Based on the solution, the global market has been segmented into case management, video intelligence, advanced video management, data integration, intelligent streaming, custom application management, mobile application, navigation management, storage management, and security management. The consumer market was divided into analog and IP-based, by technology. The retail business was bifurcated between on-premise and cloud by deployment. The business market has been categorized by corporate scale into large companies and SMEs. The global market has been segmented into IT & Telecommunications, BFSI, Retail, Healthcare, Media & Entertainment, Manufacturing, Government, and others.
The video management applications industry geographic research was performed for Europe (UK, Germany, France, Spain, Italy, and the rest of Europe), North America (US, Canada, and Mexico), Asia-Pacific (Japan, China, Australia, Singapore, India, and the rest of Asia-Pacific), and the rest of the world (Middle East & Africa and South America).
North America is currently expected to gain the largest market share due to the rising demand for video management software and video surveillance systems across various industry verticals to ensure the security of the premises and assets. The US has the largest market share due to the growing adoption of IP-based video technology and the presence of key players in the industry such as 3VR, Exacq Technologies Inc., Qognify Inc., and Verint Systems drives the country's market development.
Due to rising government measures to implement video management software to provide efficient video processing in countries such as the UK, Germany, and Austria, among others, Europe is expected to gain the second-largest market share.
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