Selbyville, Delaware, May 11, 2020 (GLOBE NEWSWIRE) --
According to latest report “Video Management Software Market by Component (Solution [Advanced video management, Data integration, Case Management, Mobile Application, Storage management], Service [Professional, Managed]), Deployment Model (On Premise, Cloud), Technology (IP-based, Analog-based), Application (BFSI, Government & defense, Healthcare, IT & telecom, Tourism & hospitality, Education, Retail), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of video management software (VMS) will reach $10 billion by 2026. The increase in penetration of surveillance systems due to growing security concerns and need to manage these systems is expected to contribute significantly to market growth.
The growing demand for advanced security measures for facility protection, cross border protection, and social gatherings monitoring is expected to support video management software market growth. Advanced capabilities to manage and monitor extensive surveillance devices are driving the demand for VMS software solutions. VMS software provides access to diverse data stored and collected through surveillance devices. In addition, this software features built-in advanced technologies such as video analytics, facial recognition, and artificial intelligence. This helps in simplifying complex application processes in surveillance systems.
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The advanced video management solution component will hold a major market share in 2026. The growth is attributed to technological advancements in surveillance systems and devices. VMS solution vendors are integrating AI-based technologies and advanced video analytics capabilities with their video management software. Moreover, the integration of computer vision and artificial intelligence assists in the early detection of suspicious incidents during surveillance. This helps enterprises to integrate VMS software with surveillance systems to provide a robust surveillance infrastructure.
The cloud-based video management software (VMS) market is anticipated to witness a growth of over 20% till 2026. Major corporates are adopting cloud-based VMS solutions that help them to manage surveillance devices and storage systems across multiple sites. The enterprises majorly leverage these solutions for connecting overall surveillance system to internet protocol and enable flexible accessibility to the system. This assists enterprises in effective utilization of network bandwidth and reduces administration costs.
The IP-based technology segment held a substantial share in the video management software market and is predicted to observe 20% CAGR through 2026. The demand for IP-based CCTV devices and systems is increasing across established corporate enterprises due to flexibility and remote accessibility to these devices. These CCTV cameras can store surveillance data both on device and cloud storage simultaneously. As these devices can be accessed over internet, they help in eliminating the need for an additional network infrastructure.
The adoption rate of VMS solutions across the retail sector is expected to grow significantly from 2020 to 2026. The companies operating in the retail sector focus on expanding their market growth by building large store premises. In addition, these companies deploy multiple CCTV cameras for monitoring overall premise and preventing possibilities of theft and loss. The VMS solution enhances the operational efficiency of these devices, enabling active monitoring.
North America video management software market will show steady growth rate during the forecast timeline. The companies operating in the advanced security sector in the region are focusing on enhancement and development of advanced surveillance devices. For instance, in July 2019, Honeywell International unveiled 30 series IP-based cameras for enterprises customers. These cameras can be deployed over multiple locations to cover specific areas. Enterprises are integrating VMS solutions with existing surveillance systems to help them access and monitor overall operations.
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Table of Contents (ToC) of the report:
Chapter 3 Video Management Software (VMS) Market Insights
3.2 Industry segmentation
3.3 Industry landscape
3.4 Video management software ecosystem analysis
3.5 Video management software features
3.6 Impact of COVID-19 outbreak
3.6.1 Impact by region
3.6.2 Impact on industry value chain
3.6.3 Impact on competitive landscape
3.7 Technology & innovation landscape
3.7.1 Connected video cameras
3.7.2 Scalable cloud-based storage
3.7.3 Power over Ethernet (PoE)
3.8 Regulatory landscape
3.8.1 North America
18.104.22.168 NIST Special Publication 800-144 - Guidelines on Security and Privacy in Public Cloud Computing (U.S.)
22.214.171.124 Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U.S.)
126.96.36.199 Personal Information Protection and Electronic Documents Act [(PIPEDA) Canada]
188.8.131.52 General Data Protection Regulation (EU)
184.108.40.206 German Privacy Act (Bundesdatenschutzgesetz- BDSG)
3.8.3 Asia Pacific
220.127.116.11 Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)
18.104.22.168 Secure India National Digital Communications Policy 2018 – Draft (India)
3.8.4 Latin America
22.214.171.124 National Directorate of Personal Data Protection (Argentina)
126.96.36.199 The Brazilian General Data Protection Law (LGPD)
3.8.5 Middle East & Africa
188.8.131.52 Law No 13 of 2016 on protecting personal data (Qatar)
184.108.40.206 Federal Law No. 2 of 2019 on the use of ICT in Healthcare (UAE)
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfalls and challenges
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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