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Europe Video Management Software (VMS) Market Share to Retain $2bn by 2026
Published Date: 2020-11-26
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According to the Graphical Research new growth forecast report titled Europe Video Management Software (VMS) Market value is set to exceed USD 2 billion by 2026. The Europe VMS market growth is attributed to the significant adoption of video surveillance systems for healthcare applications. For instance, in March 2020, Palantir, a security services provider, partnered with the National Health Service (NHS) of the UK to track down infected persons through video surveillance. Moreover, the companies operating in the market are launching innovative VMS solutions for regional enterprise customers. These initiatives are expected to support the VMS market growth.
The VMS solution segment is witnessing a growth rate of over 19% in the market over the forecast period. The increasing smartphone penetration across the region is fueling the demand for video management mobile applications. According to GSMA, the smartphone penetration across the globe was more than 65% in 2019. The use of VMS mobile application helps enterprises to manage and monitor remote VMS and surveillance system. The growing proliferation of mobile devices and IP-based solutions is contributing to the segment growth.
The on-premise deployment segment in market held a share of over 60% and is anticipated to maintain its dominance by 2026. In on-premise deployment model, the surveillance systems and management servers are installed on-site. This enables companies to manage and monitor the security of these devices from on-site. The integration of legacy hardware and software across multiple locations is a complex and costly task. Thus, the companies are largely focusing on cloud-based deployment models affecting the segment growth.
In the Europe VMS Market, the government & defense application segment is expected to witness lucrative growth over the forecast period. The increasing threat to national security is enabling government authorities to deploy advanced video surveillance solutions. The use of VMS solutions and services help government agencies to ensure safety and efficiency across facilities. VMS solutions for government and the defense sector are used for different applications such as license plate recognition, people counting, face recognition, suspect search, face detection, etc.
Companies operating in the market are focusing on collaborative new product developments and innovations. For instance, in February 2020, Milestone Systems partnered with Arcules, and launched Arcules XProtect Hybrid VMS Solution. This solution is jointly developed by both the companies. This solution is integrated with Arcules video surveillance software as a service and XProtect corporate video management software. This helped the companies to offer hybrid video management solutions for enterprise customers.
Some of the key vendors in the Europe VMS Market include 3VR Security, Inc. (Identiv, Inc.), A&H Software House, Inc. (Luxriot.), Aimetis Corporation (Senstar), Avigilon Corporation (Motorola Solutions Inc.), Axis Communications AB (Canon Inc.), AxxonSoft, Inc., Bosch Security Systems LLC, Cathexis Technologies Pty Ltd., Cisco Systems, Inc., Exacq Technologies, Inc., Genetec Inc., Hanwha Techwin Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd. (Hikvision), Honeywell International Inc., Intelligent Security Systems, Inc. (ISS), Johnson Controls International Plc., KEDACOM, March Networks Corporation, Milestone Systems A/S, Mindtree Limited, Netposa Technologies Ltd., Qognify Ltd. (On Net Surveillance Systems), Panasonic Corporation, Pelco, Inc., Salient Systems Corporation, and Verint Systems Inc.
Europe VMS market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2019 to 2025 for the following segments:
Market Share, By Component
- Advanced video management
- Data integration
- Case management
- Mobile application
- Storage management
- Professional services
- Managed services
Market Size, By Deployment Model
Market Value, By technology
Market Growth, By Application
- IT & telecom
- Government & defense
- Tourism & hospitality
The above information has been provided for the following countries: