Video Management Software Market by Technology (Analog-Based, IP-Based, Hybrid); Solution (Video Analytics, Custom Application Management, Storage Management, Data Integration, Navigation Management, Intelligent Streaming, Security Management, Others); Industry Vertical (IT and Telecom, BFSI, Retail, Transportation and Logistics, Energy and Utility, Others): Global Market Size Estimates and Forecast (2022–2030)
The video management software market crossed US$ 11.1 billion mark in 2022 and is expected to hit US$ 52.8 billion by 2030, recording a CAGR of 21.5% during the forecast period.
Video Management Software market has been significantly growing with the increasing number of threats and crime
Security companies continue to exercise caution when disclosing the scope of their monitoring operations for community review. Allowing law enforcement more surveillance power helps prevent some crimes, but there is also a chance for abuse or risk to people's rights. Over the past 20 years, many terrorist acts have sparked debate about using various surveillance technology. Therefore, using novel technologies for pre-emptive security and surveillance drives the video management software market's growth. Several other factors, such as increasing urbanization, industrialization, and rising awareness amongst organizations to fulfill the standards and regulations related to payment services, are also drivers of video management software market growth. Additionally, growing support by the government for the promotion of technology and solutions and increasing per capita income will drive the video management software market's growth rate during the forecast period.
Within the report, the video management software market is segmented into authentication technology, solution, and industry vertical. On the basis of technology, the video management software market is segmented into: Analog-Based, IP-Based, and Hybrid. Based on solution, the video management software market is segmented into: Video Analytics, Custom Application Management, Storage Management, Data Integration, Navigation Management, Intelligent Streaming, Security Management, and Others. On the basis of industry vertical, video management software market is segmented into: IT and Telecom, BFSI, Retail, Transportation and Logistics, Energy and Utility, and Others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The video management software market in Asia Pacific holds the highest growth rate and is expected to retain its position during the forecast period (2022-2030). The high growth is due to the presence of most populous countries such as China and India in the region.
IP-based segment in technology to hold largest share of video management software market during the forecast period (2022-2030)
Based on technology, the IP-based segment is estimated to account for a larger video management software market share in 2022 and will hold its position in the forecast period. IP-based VMS systems are stretchy and flexible as clients can manage the software anywhere on the network. Surveillance and security teams can utilize the software for live monitoring and determine forensic purposes using saved footage. IP cameras transfer video digitally over a network and connect to a recorder with the help of an ethernet cable via a network switch. Because each IP camera has its IP address, the cameras can be traced and streamed over the network. However, modern security systems have IP cameras that help process and compress the video and then transfer it to a video recorder. The system also requires a network video recorder (NVR) or VMS investment compared to analog cameras. These have significantly altered the video surveillance system, available in different types, such as Point-Tilt-Zoom (PTZ), wedge, dome, box, and bullet models, with high-quality images and high resolutions. They have also enormously increased the security and safety of the public. VMS is developed for IP cameras with unique functionalities, such as recording, controlling, and remote monitoring.
Rising demand for security surveillance is one of the major factors accelerating the video management software market growth.
Security agencies remain restrained about revealing the scale of their surveillance operations to public analysis. No doubt, giving authorities greater surveillance tools helps prevent certain kinds of crime, but there also is the possibility of abuses, or the citizens' rights could be compromised. Over the past few years, several large terror attacks have been discussed using diverse surveillance technologies. Although the utilization of enhanced technologies for pre-emptive security and surveillance has been discussed and criticized academically, fewer studies have discussed the public. Studies that target the public generally believe oversimplified trade-off between privacy and security. The developing trend in the security and surveillance domain also proposes a surge of reliance on tech-powered innovations. Another concern regarding security and surveillance is the surge in demand for CCTV cameras, including IP-powered cams and those with night vision or colored night vision. It is boosting the demand for video management software in the market.
Recent strategic developments in Video Management Software market
The video management software market has undergone several significant developments, and a few of these have been mentioned below:
- In July 2021, Bosch launched a new FLEXIDOME panoramic 5100i camera range, consisting of indoor and outdoor IR models with 6- or 12- megapixel resolution and a stereographic fish-eye lens.
- In April 2021, Bosch introduced FLEXIDOME multi 7000i camera family with IR and non-IR models that give 12- or 20- megapixel resolution to deliver highly detailed multidirectional overviews.
The video management software market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. AxxonSoft; Genetec Inc.; Identiv, Inc.; Johnson Controls; Magal Security Systems Ltd.; March Networks Corporation; Milestone Systems A/S.; Panasonic Corporation; Qognify; and Verint
Target audience for the report:
- Video Management software providers
- Video Management service providers
- Video Management associations, organizations, forums, and alliances
- Venture capitalists, private equity firms, and start-up companies
- End users of Video Management Software
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the video management software market has been segmented on the basis of:
- Technology
- Analog-Based
- IP-Based
- Hybrid
- Solution
- Video Analytics
- Custom Application Management
- Storage Management
- Data Integration
- Navigation Management
- Intelligent Streaming
- Security Management
- Others
- Industry Vertical
- IT and Telecom
- BFSI
- Retail
- Transportation and Logistics
- Energy and Utility
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- AxxonSoft
- Genetec Inc.
- Identiv, Inc.
- Johnson Controls
- Magal Security Systems Ltd.
- March Networks Corporation
- Milestone Systems A/S.
- Panasonic Corporation
- Qognify
- Verint
- AxxonSoft
- Genetec Inc.
- Identiv, Inc.
- Johnson Controls
- Magal Security Systems Ltd.
- March Networks Corporation
- Milestone Systems A/S.
- Panasonic Corporation
- Qognify
- Verint