Top trends boosting the industry growth through 2026
According to a recent study from market research firm Graphical Research, the global video management software market size is set to register a significant growth during the forecast timeframe. VMS is a part of security camera system that collects visual data from various cameras installed at different places and stores them in a storage device.
VMS is gaining momentum in its demand among end-users because of rise in the number of theft and other crime incidents across the world. Organizations are now installing security systems at their premises which will help them keep a track of the events happening through the day and night.
There are modern VMS systems that have in-built high-performance processing capabilities along with strong video decoding skills and excellent support for low-light conditions. These features will be quite useful in improving the security of poorly lit areas and can help record videos in challenging conditions as well. All these factors will play an important role in boosting global video management software market potential.
Some of the top trends that will keep this industry afloat are explained below:
Role of VMS system in European tourism:
Europe video management software market is estimated to be worth more than $2 billion by 2026. A major reason for this is the growing tourism sector in the region. Many countries across Europe are dependent on tourists to a large extent for their economic progress and development. The high influx of foreign population has raised security concerns as well, prompting the authorities to use advanced security systems to ensure public safety. They are partnering with tech-based start-ups to come up with innovative solutions to upgrade the existing technologies used in public safety systems.
VMS managed services see higher demand in Europe:
The video management software market provides professional and managed services based on the need of their clients. Europe video management software services segment will record more than 20% CAGR through 2026. There is an increased demand for managed services so that the organizations can use their other resources and capital in developing their core competencies. The security systems are becoming more complex by the day, which is compelling companies to take the help of agencies having expert knowledge in this field. They can help organizations in setting up their security infrastructure and help them manage the related systems effectively.
Cloud-based VMS architecture to showcase potential in Europe:
Cloud-based VMS deployment model will gain momentum in demand among end-users in Europe. This segment is estimated to capture over 40% share of the regional video management software market by 2026. Some of the important reasons for this is attributed to the rise in demand for advanced wireless network systems and increase in efforts towards digitization. The cloud model has the ability to handle both IP-based and analog video signals at the same time. It is quite flexible in nature and provides seamless services for large-scale organizations as well.
Demand for analog-based VMS system expands in North America:
North America video management software market is likely to go past $2 billion in valuation by 2026. One of the reasons for this is the rise in demand for analog-based VMS systems. Regional VMS industry share from this segment is anticipated to register a CAGR of 7% up to 2026. These VMS solutions contain monitors, analog cameras and digital video recorders that are connected through an analog matrix switcher. This switcher helps in converting video input to monitor output which aids end-users in keeping a good track of events.
VMS solutions for defense sector in North America:
Defense sector requires VMS solutions at a high rate because of rise in national security concerns across the globe. The sector is making use of high-quality video surveillance technologies to get prompt information about the infiltration attempts made by terrorists. These know-hows can also make it easier for the defense personnel in North America in identifying the intruders with the help of high-resolution video footages.
VMS services play an important role in not just ensuring public safety but can be a catalyst to keeping a country’s national borders safe from unauthorized entries. Today these systems have come a long way as AI and other advanced technologies are being integrated into the devices to ensure that precise and accurate information is collected and sent to the authorities.
VMS witnesses high application across mobile devices in APAC region:
Asia Pacific video management software market is projected to exceed $4 billion in valuation by 2026. One of the major reasons for this is rise in the usage of mobiles in the region to access VMS. The regional industry share from mobile application is predicted to record 20% CAGR through 2026. According to a report released by GSMA, in 2020, the number of smartphone users in China went past 1.34 billion. Companies are increasing their focus on developing VMS systems that are suitable for smartphones and tablets.
VMS in mobile applications helps end-users gain better access to the security cameras at remote locations with the help of either public or private IP. This software allows access to safety systems set up at different locations and brings them together to make video monitoring a much easier process. The high demand for smartphones and tablets across businesses and individuals will drive APAC video management software market forecast.
On-premise VMS deployment architecture gains momentum in Asia Pacific:
Cloud and on-premise deployment models are commonly used to set up VMS systems. However, the on-premise segment will keep gaining traction over the coming years. This is because of the rising concerns among end-users with regards to storing data on cloud. The on-premise architecture helps organizations conduct video surveillance of a single location. Many devices and software are installed to bring the entire setup together. While the initial installation cost can be quite high, it offers higher data security as compared to cloud services.
India VMS market will grow at a considerable rate:
India video management software market share is predicted to register a CAGR of more than 20% through 2026. One of the major reasons for this is the growing security concerns in the country. India is the second most-populated nation in the world after China. This means that the need to have a robust security infrastructure to provide safety to such a vast population has increased by many folds.
The nation’s government is taking some important measures like partnering with leading tech-based companies to make use of their high-end security technologies. NEC Technologies India, in May 2019, created advanced security surveillance systems and implemented them across Gurugram, Delhi. The technology uses red-light violation detection system to record the number of people jumping the traffic lights. It even has a feature called automatic number plate recognition that will immensely help authorities book the traffic rule violators.
Reputed companies like A&H Software House Inc. (Luxriot), 3VR Security Inc. (Identiv Inc.), Intelligent Security Systems Inc. (ISS), Johnson Controls International Plc., Honeywell International Inc., Panasonic Corporation and Mindtree Limited are engaged in providing advanced and sophisticated VMS solutions to clients across the world.