Video Management Software Market Outlook 2031:
The global video management software market size was valued at USD 10.90 Billion in 2022 and is projected to reach USD 70.75 Billion by 2031, expanding at a CAGR of 23.1% during the forecast period 2023 - 2031. The growth of the market is attributed to increase adoption of cloud-based solutions.
Video management software (VMS) is an integral part of a security camera system, which is used for collecting videos from cameras and transfer it to a storage device. Moreover, it offers an interface for both the recorded and the live video.
Several community cameras provide inner competencies to evaluate and file video immediately with the help of an internet browser and without using VMS tool. The built-in web interface of a camera, on the other hand, is solely available to the camera and does not enable shared access to other network cameras.
The COVID-19 pandemic outbreak has brought a positive impact on the market. During pandemic, the demand for VMS tool is continuously increasing owing to the application in several technologies, such as thermal screening cameras, facial recognition systems, and mask detection algorithms.
Video Management Software Market Trends, Drivers, Restraints, and Opportunities
- Increasing security concerns globally due to rising security threats is one of the key factors driving the market growth.
- Rising implementation of video surveillance in a wide range of applications is expected to boost the market growth in the coming years.
- Concerns related to storage of high-resolution videos and recordings present a major restraining factor. This is anticipated to hamper the market expansion during the projected timeline.
- Lack of cybersecurity in dealing with threats is likely to hinder the market growth during the forecast period.
- Dynamic end-use requirement and rising trend of cloud-based solutions is projected to create a significant growth opportunity for the market in the near future.
Scope of Video Management Software Market Report
The report on the global video management software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Video Management Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Deployments (Cloud and On-premise), Technology (Hybrid VMS, Analog-based VMS, and Internet Protocol-based VMS), Solutions (Security Management, Storage Management, Data Integration, Video Analytics, Custom Application Management, Navigation Management, Intelligent Streaming, and Others), and End-users (Education, Healthcare, Retail, BFSI, Government, Manufacturing, IT & Telecommunication, Media & Entertainment, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
March Networks; Milestone Systems; Salient Systems Corp.; AxxonSoft, Inc.; Verint Systems; Qognify Inc.; Exacq Technologies, Inc.; Identiv, Inc.; Panasonic Corp.; Genetec Inc.; and Magal Security Systems Ltd.
Video Management Software Market Segment Insights
On-premise segment is expected to grow at a rapid pace
Based on deployments, the global video management software market is bifurcated into cloud and on-premise. The on-premise segment is expected to grow at a rapid pace during the forecast period owing to the integration of multiple cameras installation on a site and deployment of the software at their workstations within the facility.
However, the cloud segment is anticipated to hold a key share of the market in the coming years attributed to the rise in use of cloud-based solutions by the small & medium as well as large enterprises.
Concerns related to security to drive hybrid VMS segment
On the basis of technology, the market is divided into hybrid VMS, analog-based VMS, and internet protocol-based VMS. The hybrid VMS segment is projected to expand at a considerable CAGR during the forecast period owing to the vast deployment of traditional video surveillance systems by corporates and governments for improving security.
On the other hand, the internet protocol-based VMS segment is anticipated to account for a major market share during the forecast period due to their wide-ranging features, such as remote & mobile monitoring, a wider area covering, high-resolution image & video capture, and reduced total cost of ownership.
Data integration segment is anticipated to hold significant market share
In terms of solutions, the global video management software market is segregated into security management, storage management, data integration, video analytics, custom application management, navigation management, intelligent streaming, and others. The data integration segment is anticipated to hold significant market share in the coming years attributed to the wide-scale adoption in video surveillance and monitoring solutions.
However, the video analytics segment is expected to register a considerable CAGR during the forecast period due to increasing adoption for applications, such as satellite imagery and spatial data analytics.
Increase trend for remote classrooms to drive education segment
On the basis of end-user, the market is segmented into education, healthcare, retail, BFSI, government, manufacturing, IT & telecommunication, media & entertainment, and others. The education segment is expected to hold account for major market share during the projected timeline owing to increasing trend for recorded content streaming and remote classrooms.
On the other hand, the government segment is expected to grow at a significant rate due to major adoption for VMS in smart cities projects and infrastructure & logistics sectors.
North America is anticipated to constitute a key market share
In terms of regions, the global video management software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to the increased adoption of high-end internet protocol-based monitoring & surveillance systems and presence of major industry players in the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the rise in adoption of cloud-based VMS in emerging economies in the region.
The global video management software market has been segmented on the basis of
- Hybrid VMS
- Analog-based VMS
- Internet Protocol-based VMS
- Security Management
- Storage Management
- Data Integration
- Video Analytics
- Custom Application Management
- Navigation Management
- Intelligent Streaming
- IT & Telecommunication
- Media & Entertainment
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- March Networks
- Milestone Systems
- Salient Systems Corp.
- AxxonSoft, Inc.
- Verint Systems
- Qognify Inc.
- Exacq Technologies, Inc.
- Identiv, Inc.
- Panasonic Corp.
- Genetec Inc.
- Magal Security Systems Ltd.
Key players competing in the global video management software market are March Networks; Milestone Systems; Salient Systems Corp.; AxxonSoft, Inc.; Verint Systems; Qognify Inc.; Exacq Technologies, Inc.; Identiv, Inc.; Panasonic Corp.; Genetec Inc.; and Magal Security Systems Ltd. As part of their efforts to grow their client base and acquire a competitive advantage over competitors, manufacturers operating in the market are adopting various strategic initiatives such as partnerships, collaborations, mergers & acquisitions, and new product development.