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According to The Business Research Company’s research on the video management system market, the global video management system market size is expected to grow from $7.11 billion in 2021 to $9.05 billion in 2022 at a compound annual growth rate (CAGR) of 27.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. As per TBRC’s video management system market report the market is expected to reach $20.79 billion in 2026 at a CAGR of 23.1%.
An increase in security surveillance is expected to propel the growth of the video management system market going forward. Surveillance refers to the monitoring of the behavior and activities for information gathering, influencing, and managing. The video management system is used to manage data streamed from various surveillance devices such as security cameras. It helps the user to access real-time videos, record, store, and playback recorded videos, and derive useful insights from the surveillance site. For instance, according to an article published in August 2022 by EarthWeb, a US-based provider of internet-based online services, the United States has 15.28 cameras per 100 people and China has 14.36 cameras installed per hundred. Therefore, an increase in security surveillance is driving the growth of the video management system market.
Technological advancement is a key trend in the video management system market. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, in April 2022, Qognify, a US-based software company launched Qognify VMS, new video management software that stores video data in the cloud to meet the specific physical security needs of organizations. This enables customers to scale storage space quickly, keep the hardware footprint small, and benefit from the resiliency of cloud technology.
Major players in the video management system market are March Networks Corporation, Exacq Technologies Inc., Milestone Systems, Verint Systems, AxxonSoft, Genetec, Salient Systems corporation, Aimetis Corporation, 3VR Security, On-Net Surveillance Systems Inc., Hanwha Techwin, Honeywell International Inc., Axis Communications, and Johnson Controls International.
Asia-Pacific is expected to be the fastest-growing region in the forecast period as per TBRC’s video management system market report. The regions covered in the video management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global video management system market is segmented by component into solution, services; by technology into analog-based VMS, IP-based VMS; by organization size into large enterprises, small and medium enterprises (SMEs); by deployment type into on- premises, cloud; by application into mobile application, intelligent streaming, security and surveillance, storage management, data integration, case management, navigation management, other applications.
Video Management System Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide video management system market forecast size and video management system market growth, video management system market segments, video management system market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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