Video Management Software Market

Market Synopsis:

The Global Video Management Software Market is valued at USD 11.03 Billion in the year 2022 and is projected to reach a value of USD 55.91 Billion by the year 2030. The Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 22.50% over the forecast period.

A Video Management System, also known as Video Management Software, is a component of a security camera system that collects videos from cameras, records them, and saves them to a storage device, as well as providing an interface to both live and recorded video. Because of technological advancements, it is necessary to distinguish between a VMS and the integrated capabilities of current community-primarily based totally security cameras. The growing use of IoT and video analytics, as well as the growing trend of cloud-based solutions and rising security threats, are driving market growth. The Global Video Management Software (VMS) Market report offers a comprehensive analysis of the market.

As organizations seek to protect their physical and capital assets, the market for Video Management Software is becoming more important than ever. A perfectly sized and installed Video Management Software application is used to monitor behavior, activities, or other real-time information for inspection, security, and safety using electronic equipment such as CCTV cameras or IP network cameras. The vast increase in the demand for surveillance solutions across multiple verticals around the world, as well as the rapid growth of digitalization, have paved the way for the growth of IP video management systems.

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Market Segmentation:

The Video Management Software Market is segmented on the basis of Solution, Technology, Deployment and Vertical. On the basis of Solution, the market is segmented into Video intelligence, Case management, Advanced video management, Data integration, Intelligent streaming, Custom application management, Mobile application, Navigation management, Storage management and Security management. On the basis of Technology, the market is segmented into Analog based Video Management Software, IP based Video Management Software, Video Management Software by Service, Professional services and Managed services. On the basis of Deployment, the market is segmented into Cloud and On- Premises. On the basis of Vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Government, Healthcare and life sciences, Manufacturing and automotive, Retail, Transportation and logistics, Media and entertainment, Telecom and Information Technology (IT), Education, Real estate, Energy & utility, Tourism and hospitality and Others (residential & commercial, traffic monitoring, and corrections).

Based on Type of Solution

On the basis of Solution, the market is segmented into Video intelligence, Case management, Advanced video management, Data integration, Intelligent streaming, Custom application management, Mobile application, Navigation management, Storage management and Security management. The data integration segment had the highest revenue share in 2021 and is expected to grow faster during the forecast period due to the adoption of various security solutions such as vehicle number plate monitoring and Radio Frequency Identification (RFID) monitoring, where systems for text or barcode reading can be integrated with Video Management Software. Furthermore, due to the widespread use of video analytics in areas such as facial recognition, motion detection, and retail consumer analytics, mobile application segments are expected to register a rapid revenue Compound Annual Growth Rate (CAGR) over the forecast period.

Based on Technology

On the basis of Technology, the market is segmented into Analog based Video Management Software, IP based Video Management Software, Video Management Software by Service, Professional services and Managed services. During the forecast period, the IP-based segment is expected to grow at the fastest rate in terms of revenue share. IP cameras are revolutionising video surveillance by offering numerous advantages such as low cost, high picture resolution, and scalability. The increasing use of IP cameras by end-use industries and businesses is one of the major drivers of revenue growth in the Video Management Software Market. The open platform Video Management Software enables IP cameras to be equipped with built-in analytics, providing the surveillance system with greater business insight.

North America Holds the Largest Market Share in Terms of Revenue

North America is projected to acquire the largest market share during the year 2021 with a share of 43.10%. Because of the rise in national security concerns around the world, the defense sector is in high demand for VMS solutions. The sector is utilizing high-quality video surveillance technologies to obtain timely information about terrorist infiltration attempts. These know-hows can also help North American defense personnel identify intruders with the help of high-resolution video footage. VMS services play an important role in not only ensuring public safety, but also in keeping a country's borders safe from unauthorized entry. Today, these systems have come a long way, with AI and other advanced technologies being integrated into the devices to ensure that precise and accurate data is collected and transmitted to the system.