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Europe Video Management Software (VMS) Market Size By Technology (IP-based, Analog-based), By Component (Solution [Advanced Video Management, Data Integration, Mobile Application, Custom Application Management, Case Management, Security Management], Services [Professional Services, Managed Services]), By Deployment Model (On-premise, Cloud), By Application (BFSI, Government & Defense, Healthcare, IT & Telecom, Education, Media & Entertainment, Retail), Industry Outlook, Regional Analysis (UK, Germany, France, Italy, Spain, Russia), Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Published Date: November 2020 | Publisher: Graphical Research Report ID: GR1538 | Delivery : PDF  Request Free Sample

Europe Video Management Software (VMS) Market share was over USD 700 million in 2019 and is expected to witness a significant growth between 2020 and 2026 at a CAGR of over 19%.
 

VMS Market, By Region

 Europe VMS Market

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The Europe VMS market growth is attributed to the extensive tourism sector and rising security concerns. The countries including Germany and France have witnessed several mass robbing and shooting incidents. For instance, in February 2020, a mass shooting incident happened at West German city of Hanau, killing nine people. These events raised security concerns for Berlin Film Festival. In addition, government authorities across the region are adopting advanced video surveillance systems to improve safety framework for population. These factors are contributing to the demand for VMS solutions and services.

The VMS service segment in market is expected to grow exponentially at a CAGR of over 20% from 2020 to 2026. The companies operating in region are largely adopting managed services in order to focus on core competencies and business objectives. Moreover, the increasing complexities in security and surveillance systems is driving enterprises to leverage external expertise to ensure effective deployment and management of VMS solutions. This is enabling the demand for managed services for VMS implementation and management.

The cloud deployment segment in market is projected hold above 40% share by 2026. The growth is attributed to extensive digitization and advancements in wireless network infrastructure across the region. The advanced capabilities to manage both IP-based and analog video signals simultaneously followed by scalability and flexibility is enabling the demand from enterprises. The cloud-based deployment enables enterprises to connect surveillance devices with cloud-based VMS.

The IP technology segment in market is projected to grow significantly from 2020 to 2026. The extensive penetration of IP-based surveillance cameras is fueling the demand for IP-based VMS solutions. IP-based VMS provides benefits such as enhanced image quality, remote & mobile monitoring, flexible & scalable systems. IP-based VMS is easy to expand, adds new functionalities, such as audio monitoring, and integrates with other systems in case of any such requirements. The growing demand for enhancing the capabilities of IP surveillance solutions will support the technology growth.

The tourism and hospitality segment in market is growing at a CAGR of above 20% over the forecast timeline. The installation of security camera systems in places frequently visited by tourists can enhance the security infrastructure by enabling real-time surveillance. For instance, according to the report from World Tourism Organization, Europe reported 713 million international tourist visits in 2018, more by 6% in 2017. Due to growing incidents of crime and terrorism, the demand for advanced VMS solutions are expected to grow significantly.

The demand for VMS solutions & services in Italy is projected to grow exponentially over the forecast period. The extensive presence of architectural monuments and tourists places has driven government to ensure advanced surveillance infrastructure. In addition, the companies are developing integrated solutions for enterprises. For instance, in May 2019, Bosch integrated Flexidome IP camera, LSN detectors and fire alarm system with office systems for better intrusion detection and video security for Alfasigma’s offices in Italy. Similar product developments from other enterprises will propel the market growth.

The companies operating in the region are offering advanced VMS solutions for government agencies. For instance, in April 2020, Verint was selected as the official supplier of cybersecurity and cyber intelligence products for the UK police during the coronavirus quarantine management in the UK. Under the contract, the police forces across UK used Verint’s solutions for gathering web intelligence, video surveillance and video management of security cameras across all critical points in the nation.
 

Frequently Asked Question(FAQ) :

The industry share of Europe Video Management Software (VMS) is projected to expand at 19% CAGR during 2020 to 2026.
Segmental analysis of market done on the basis of Technology, Component, Deployment Model & Application.
The Europe VMS market growth is attributed to the extensive tourism sector and rising security concerns.

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