Press Release Description

A USD 11.25 Billion Global Video Management Software Market to Grow at a CAGR of Around 13.46% During 2024-2030

The Global Video Management Software Market is projected to grow at a CAGR of 13.46% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The rising incidence rates of robberies in different industry verticals, increasing investments to build smart cities, and adoption of digital security solutions within organizations are amplifying the market growth.

Over the years, several industries have registered theft cases, which has led them to incur financial losses. According to statistics provided by the FBI, more than 8,47,522 burglaries were reported. Therefore, these industries are increasingly installing security systems within their premises to ensure the safety of their commodities. This is consequently uplifting the demand for the Video Management software to constantly monitor the buildings and safeguard the essential products.

In addition, the governing authorities across the globe are encouraging the adoption of digital technologies within the industrial units to automate and streamline the production process. Owing to this, organizations are increasingly using advanced digital technologies and highly upgraded equipment. Therefore, to constantly check the smooth functioning of these equipment, the owners are increasingly using surveillance systems, which is further amplifying the demand for Video Management Software globally.

Global Video Management Software Market

Further, private entities & the official administrative agencies in several developed nations are actively laying plans to build smart cities to improve the quality of living for its residents. These cities would require solutions that provide real-time data monitoring. Thus, the demand for the next generation & AI-based surveillance systems would increase in the forecast years., further states the research report, “Global Video Management Software Market Analysis, 2024.”

Global Video Management Software Market Segmentation Analysis

IP-based VMS to Witness Substantial Market Growth

Based on the Technology segment, the market is further bifurcated into, Analog-based VMS and IP-based VMS. Among them, IP-based VMS holds a noteworthy market share in the global market. These solutions provide high-resolution image and video capture, which enables the end-users to monitor their assets during the night time. Additionally, these solutions have better area coverage, owing to which the companies easily monitor the entire building without using more cameras. Along with it, these solutions have a lower cost of ownership than analog-based VMS, making them more preferable choice in various end-user industries.

Further, due to these unique attributes, private corporations are increasingly deploying IP-based VMS for large-scale hospitality and government projects. Thus, with the surge in the construction of commercial buildings, the demand for these solutions would continue to boost in the forecast years as well.

North America Dominates Global Video Management Software Market

Geographically, North American nations are emerging as leaders in the Global Video Management Software Market. The nations in the North American region have advanced infrastructure and smart buildings owing to which the security systems within the buildings require digital management solutions. Additionally, the region is an industrial hub and has several commercial companies. These organizations require 24*7 monitoring of the assets to avoid theft and incidents related to damage. Thus, they rely heavily on security cameras and video surveillance, amplifying the market growth.

Moreover, the top companies in the region are increasingly launching solutions based on cutting-edge technologies. This improved version of the security systems would gain the attention of several end-users, resulting in the elevated demand for video management software in the forecast years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including AxxonSoft Inc., Canon Inc., EInfochips Inc., Genetec Inc., Hanwha Vision Co. Ltd., Johnson Controls International PLC, March Networks, Panasonic Holdings Corporation, Robert Bosch GmbH, Salient Systems Corporation, Verint Systems Inc., Honeywell International, Schneider Electric, Axis Communications, Hikvision Digital, Other are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various region?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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