The video management software market based on deployment type can be segmented into on-premises and cloud types. On-site premises solutions deploy several cameras and are installed on-site, on customer’s own servers or workstations while cloud-based solutions are hosted off-site, usually by the vendor, and the data is retrieved through an internet connection. Typically, on-premises solutions have high up-front costs owing to investments required for the equipment, but a low cost of ownership as there is null or less monthly or annual subscription fees. Owing to these reasons, on-premises solutions in the video management software market are currently the fastest growing solutions; however, VMS for cloud-based applications is expected to foresee a faster growth due to the increasing use of cloud-based solutions.
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Video Management Software Market based on technology can be segmented into IP-based and analog-based VMS. IP-based VMS is currently trending and is anticipated to dominate the market over the forecast timeline. IP cameras offer a variety of features such as high image resolution, low price, and scalability. The growing implementation of IP cameras by enterprise customers and other end users is anticipated to be a major growth driver for the industry. In addition, the development of open platform VMS solutions along with IP cameras and onboard analytics is anticipated to provide more business intelligence to surveillance systems and is predicted to further give an impetus to video management software market growth.
The video management software market is increasingly witnessing trends such as deep learning for video analytics, built-in intelligence, and improvement in image quality. Privacy concerns regarding the adoption of video surveillance systems are anticipated to hinder growth to some extent. Additionally, requirements for large data storage systems and high cost for installations are anticipated to hamper video management software market growth. The organizations are focusing on establishing product life cycle and risk assessment programs to counter cyber security threats.
VMS solutions can be used in large organizations and SMEs. Various sectors using VMS solutions include healthcare, telecom & IT, retail, transportation, BFSI, government & public sector, military & defense, manufacturing, media & hospitality, and others. The government & public sector is anticipated to continue to lead the video management software market over the forecast timeline, owing to the wide adoption of video surveillance systems. The systems play an important role in risk management as it is the responsibility of the government for handling the security, management, and other functions in the development of cities such as ports, border securities, official buildings, and institutions.
North America video management software market is expected to witness a steady growth over the forecast timeline, owing to growing video surveillance systems presence and growing adoption of high-end security networks. The consumers in the region are increasingly focusing on software platforms, which provide a user-friendly interface and powerful functions such as thumbnail search & calendar search, which are helping users find important videos faster and filter queries.
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Key participants in the video management software market include Milestone Systems, AxxonSoft, Schneider Electric Industries, MindTree, Exacq Technologies, March Networks, On-Net Surveillance Systems, Verint Systems, Qognify, Bosch Security Systems, Tyco Security, Aimetis Corporation, 3VR, Salient Systems, Genetec, Hanwha Techwin, Cathexis, Surveon Technology, OnSSI, Genetec, Honeywell International, Exacq Technologies, Axis, A&H Software, Cisco Systems, Inc., KEDACOM, and IProNet.
Methodology used in the Report –
Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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