Published Date: 2020-11-24
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According to the Graphical Research new growth forecast report titled North America Video Management Software (VMS) Market size is set to exceed USD 2 billion by 2026.The North America VMS market growth is attributed to extensive product developments and presence of VMS solution vendors. Several companies operating in the region are proactively launching advanced VMS solutions. For instance, in March 2020, Avigilon developed new VMS solutions for the police officials through body worn VideoTag cameras, which can integrate with Avigilon Control Center (ACC) video management software. The integration enhanced federal security efforts by making live body-worn video and audio easily accessible through the ACC AI-powered platform.
The managed service segment is witnessing a growth rate of over 19% in the North America VMS market from 2020 to 2026. The increasing complexities in surveillance and security systems are enabling enterprises to adopt managed VMS services. The enterprises in the region are leveraging external expertise to manage their VMS solutions after deployment. Similarly, the companies are outsourcing the management, maintenance and control of their VMS to focus on the core business strengths.
The cloud deployment segment in the North America VMS market is witnessing exponential growth rate of over 20% CAGR from 2020 to 2026. The additional capabilities including flexibility and scalability compared to on-premise solutions have contributed to the segment growth. The cloud-based VMS features the ability of managing both analog and IP video signals simultaneously. The use of cloud-based VMS solutions enable companies to integrate traditional VMS systems with modern solutions.
The analog-based VMS segment in market is witnessing steady growth rate of nearly 7.0% CAGR from 2020 to 2026. The analog-based VMS solutions consists of analog cameras, monitors, and digital video recorders. These devices are connected through an analog matrix switcher that switches video inputs to monitor outputs. The analog-based VMS raises data security concerns as it lacks the encryption feature. These security concerns and technological innovations in the market is limiting the segment growth.
The adoption of video management software solutions for government & defense application across North America is growing significantly. The increasing threat to national security is enabling government authorities to deploy advanced video surveillance solutions. The use of VMS solutions help government agencies with live surveillance and display of real-time image throughout public places. The VMS can address the need for different applications for security purpose such as license plate recognition, people counting, face recognition, suspect search, face detection, abandoned object detection, etc.
Companies operating in the market are focusing on strategic partnerships for new product developments and innovations. For instance, in August 2019, AxxonSoft Inc. partnered with QSAN and Seagate to jointly develop a VMS solution with high-end performance. The VMS solution incorporates Self Encrypting Drive (SED) from Seagate and XCubeSAN storage system from QSAN to handle heavy storage loads during high-resolution video capture. This launch helped the company to serve customers with advanced VMS solution.
Some of the key vendors in the 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., iMotion Security, 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.
The North America VMS market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2020 to 2026 for the following segments:
Market Share, By Component
Market Size, By Deployment Model
Market Trends, By Technology
Market Forecast, By Application
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