The global video management software market is expected to attain USD 4.79 billion, by the end of 2025, and is anticipated to grow at the CAGR of 18.8% during the forecast period, 2019 to 2025, according to a new report by Million Insights. Increasing adoption of video monitoring, and video surveillance solutions for traffic management, facility protection is projected to surge the market growth. In addition, these software tools are used for managing multimedia like playback, video streaming, and storage functions.
The growing awareness about benefits provided by video management software (VMS), and increasing investment in smart city initiatives for city surveillance is expected to contribute to market growth. Additionally, the rising trend of high-efficiency video coding or H.265 video compression standards and built-in intelligence technologies is projected to bolster the market growth. The unified VMS system help user to merge IP videos and analog videos along with a cost-effective approach.
VMS tools can be easily integrated with digital cameras as per the consumer requirement. Moreover, increasing demand for IP cameras and CCTV cameras for surveillance and security applications is also significantly boosting the market growth. Software solutions help users to enhance monitoring capabilities and situational awareness. The government authorities, law agencies also use imagery, and HD videos to track and identify criminals.
Key manufacturers in the video management software market are AxxonSoft, Inc.; Milestone Systems; Qognify Inc.; Identiv, Inc.; Exacq Technologies, Inc.; Verint Systems; Genetec Inc.; Magal Security Systems Ltd.; Panasonic Corporation;March Networks; and Salient Systems Corporation.
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Further key findings from the report suggest:
• Based on technology, IP-based VMS segment is anticipated to grow at the fastest CAGR during the forecasted period.
• Cloud type segment is projected to grow at significant rate due to growing adoption of video surveillance solutions for enhanced security.
• Video analytics solution segment is projected to grow at the fastest rate due to its rising adoption in large enterprises and government buildings.
• Government end-use segment is estimated to register fastest CAGR over the forecasted period. This growth is supported by infrastructure developments, smart city projects.
Million Insights has segmented the global video management software market based on technology, solution, deployment, end use and region:
Video Management Software Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Analog-Based VMS
• IP-Based VMS
• Hybrid VMS
Video Management Software Solution Outlook (Revenue, USD Million, 2014 - 2025)
• Video Analytics
• Custom Application Management
• Storage Management
• Data Integration
• Navigation Management
• Intelligent Streaming
• Security Management
Video Management Software Deployment Outlook (Revenue, USD Million, 2014 - 2025)
Video Management Software End Use Outlook (Revenue, USD Million, 2014 - 2025)
• IT & Telecom
• Media & Entertainment
Video Management Software Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa