The global Video Management Software Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
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.
Key Players:
- AxxonSoft
- Exacq Technologies, Inc.
- Genetec
- Identiv
- Magal Security Systems Ltd.
- March Networks
- Milestone Systems
- Panasonic Corporation
- Qognify
- Salient Systems Corporation
- Verint Systems
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Growth Drivers:
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.
End-use Outlook:
- Government
- BFSI
- Government
- Healthcare
- Manufacturing
- Retail
- IT & Telecom
- Media & Entertainment
- Education
Regional Outlook:
In 2018, North America led the market with the highest market share in the video management software. The presence of key players in the region such as Exacq Technologies (U.S.), March Networks (Canada), Identiv, Inc. (U.S.), Genetec Inc. (U.S.), and Verint Systems (U.S.) is mainly supporting market growth. These players focus on strong networking of integrators, distributors, resellers, and consultants. Moreover, they are increasingly adopting advancedtechnologies such as cloud computing, Big data, AI and IoT analytics.
Asia Pacific is anticipated to grow at the highest CAGR over the forecast period, due to growing adoption of cloud VMS systems. In addition, increasing demand for surveillance system, traffic management system, transportation system and smart city initiatives across the developing countries is projected to bolster the market growth.Indian Government has planned to develop around 100 smart cities, which in turn is projected to support the market growth.
Impact of COVID-19:
COVID-19 pandemic has positively impacted the global video management software market. All the IT, financeand other service sector companies are utilizing VMS tools to effectively manage their resources and operation from remote places. Thus, the companies are now emphasizing on reducing contact through the use of remote security and safety systems.
Ministry of corporate affairs (MCA) in India has modified rules of companies to allow the use of video collaborative tools with focus on reducing the impact of coronavirus. Vendors are now shifting towards virtualized and cloud-based VMS to reduce the physical hardware and remote access control. Media & entertainment industry has been hit hard by the COVID-19, as the cinemas, media events have been canceled owing to social distancing norms & regulations.
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