Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Product Overview
Video management software (VMS) is a component of the security system that is used to collect the video from cameras and also other sources. It records the video in a storage device and provides an interface to user to view the live video and also enable to record the live video. The Video management software has advanced tools which are used for the processing and managing signals from more than one camera. The tools are especially designed for the recording audio, digital video and data playback. The video management software has the capability of sending alarm signal to the output through network based cameras and computer expansion cards. The technological up gradation in the VMS technology enables multiple camera views through single output. Video management software is used for providing security to both residential and commercial sector.
Market Size and Forecast
The global video management software (VMS) market is anticipated to expand at a CAGR around 23.0% during 2018-2027. It is projected to reach around USD 16.0 billion market size by 2027. The increasing security concern coupled with increasing demand for the video processing is anticipated to drive the market growth of the video management software (VMS) market. The global video management software (VMS) market can be segmented on the basis of type, application, deployment and region. On the basis of type, it is segmented into IP-based VMS and analog-based VMS. IP-based VMS technology is anticipated to lead the type segment throughout the forecast period. This is attributed to the various enhanced qualities of the IP-based VMS technology such as high camera resolution, low cost and scalability. Additionally, the IP cameras along with the VMS technology offer better business intelligence which enhances the surveillance system. On the basis of application, it is sub-segmented into manufacturing and automotive, transportation and logistics, government, healthcare and life sciences, education and others. The government is anticipated to be the largest sub-segment for the application segment. The increasing use of the VMS technology in order to enhance the safety and security of the country is anticipated to be the primary reason for the government sub-segment to lead the application segment. On the basis of deployment type, it is sub-segmented into cloud based, on-site and application based. On site premises is anticipated to lead the deployment segment. The low cost of the ownership coupled with less annual subscription fees is anticipated to be the primary reason for the on-site premises to contribute the largest market share for the deployment segment during the forecast period.
By region, global video management software (VMS) market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global video management software (VMS) market. The presence of highly developed security system coupled with increasing adoption of the video surveillance system is anticipated to be the major factor for the region to lead the global video management software (VMS) market. Additionally, the development in the software technology in order to provide the user friendly interface is anticipated to boost market growth in the region. Asia-Pacific is anticipated to be the fastest developing region for the global video management software (VMS) market. The increasing expenditure by the government coupled with developing industrial and commercial sector in the region is anticipated to boost the growth of global video management software (VMS) market in the Asia Pacific region.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global video management software (VMS) market in the following segments:
By Type:
By Application:
By Deployment Type:
By Region
Global video management software (VMS) market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The rising security concern coupled with increasing demand for the high quality video processing is anticipated to be the primary growth driver for the global video management software (VMS) market during the forecast period. The increasing use of the video management software in the electronic equipment such as mobile, tablets and smart devices is anticipated to be a fuel the market growth during the forecast period. Additionally, the increasing awareness of the IoT applications and development in the video analytics is predicted to upsurge the demand of the video management software (VMS) globally. Moreover, the development in the electronic industry and also expansion of the IT sector across the globe is anticipated to support the market growth of the video management software.
However, increasing cybercrime and high initial cost associated with video management software is anticipated to be the major factors for hindering the market growth of the global video management software (VMS) market.
Key Players
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