Video Management Software Market Estimated To Reach $30B By 2032
Presence of key players in the region expected to grow the video management software market in North America.
Adobe Stock image by visoot
The global video management software market is expected to reach $30 billion by 2032, displaying a compound annual growth rate (CAGR) of more than 22% in the 10-year period starting in 2022, according to research by Fact.MR.
The growth of the market can be attributed to “the penetration of advanced technologies like computer vision and video analytics,” the report says.
“Demand for video management software is expected to rise as of offers reliability, cost-effectiveness, and enhanced accuracy,” according to the report. “Also, the growing proliferation of video software to lessen crime rates is anticipated to augment the market size during the forecast period.”
Video management software can be integrated with various third-party solutions and equipment, including fire alarm systems, intrusion detection systems and video analytics to enhance the capability of the overall surveillance system, the report says. Such added features allow the software to offer facility managers various camera views, thus, helping them to effectively deal with emergencies.
North America to Lead Video Management Software Market
North America is “anticipated to dominate the global video management software market during the forecast period,” according to the report. Domination of the region can be attributed to the presence of established players in the region.
According to Fact.MR, the North American video management software market is expected to register a CAGR of 19% from 2022 to 2032.
Renowned players in the market include Exacq Technologies, March Networks, Identiv, Inc., Genetec Inc., Verint Systems and Salient Systems Corporation. Rising adoption of modern technologies such as cloud computing, big data analysis and other analytical tools is “another vital factor developing the market during the forecast period,” the report says.
Key players in the global market include VR Security, Inc. (Identiv, Inc.), Aimetis Corporation (Senstar), A&H Software House, Inc. (Luxriot.), Avigilon Corporation (Motorola Solutions Inc.), Axis Communications AB (Canon Inc.) and Bosch Security Systems LLC.
Others include Axxonsoft, Inc., Cathexis Technologies Pty Ltd., Cisco Systems, Inc., Exacq Technologies, Inc., Hanwha Techwin Co., Ltd., Genetec Inc., Hangzhou Hikvision Digital Technology Co., Ltd. (Hikvision), Honeywell International, Inc., Intelligent Security Systems, Inc. (ISS), iMotion Security, Kedacom, March Networks Corporation and Johnson Controls International Plc.
Mindtree Limited, Milestone Systems A/S, Netposa Technologies Ltd., Panasonic Corporation, Pelco, Inc., Salient Systems Corporation, Qognify Ltd., Verint Systems Inc., VIVOTEK Inc., and Zhejiang Dahua Technology Co., Ltd. are among the other global video management software companies.
Recent key developments in the industry include:
- In July 2021, Edge360 announced the launch of its new video management software (VMS), Surveill VMS, a containerized VMS running on microservices.
- In April 2022, Qognify launched a new video management software called Qognify VMS. The solution offers bi-directional integrations with many other solutions such as access control, intrusion detection, and video analytics.
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