Video management software market is growing progressively due to the increasing usage for behavior monitoring, real time information on security and other things. Video management software market is also increasing due to rising use of integration. By integrating video with other data from access control systems, intrusion, and risk awareness systems, security teams have a more cohesive and complete awareness of what’s happening at any given time. Video analytics will play a key role in the integration of these data sets.
Video management software becomes more integrated with other security systems, scalability is becoming more and more of a necessity. “Features that allow for rapid deployment, centralized system management and the ability to perform actions across multiple network video recorders and clients simultaneously will be more widely adopted.
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Video Management Market: Drivers and Challenges
The major factor driving the adoption of Video management software market is the growth of cloud based video recording which helps in lowering upfront costs, built-in system management, and the ability to store recordings offsite while accessing them from anywhere. Moreover, other advantages that are driving this video management software market to grow are increasing use of video surveillance, growth of video analytics and IOT.
The key challenge for video management software is the lack of control over security and privacy measures due to which hackers can easily take over the devices and steal the internal data and can use that device for immoral purpose. Another major issue is to determine intelligence level built into devices and which process can be done completely without human need. These factors are restricting the market for video management software to grow faster.
Key Developments
In March 2016, VIVOTEK, a global IP surveillance provider, and Cathexis, a South African based leading electronic and software systems has entered into the partnership to create comprehensive surveillance solutions and meet the diversified needs of users, VIVOTEK launched its Solution Integration Alliance (SIA) program to effectively cooperate with global partners.
In July 2016, Panasonic, launched video management software to improve its video management software offerings for enterprises. It will help enterprises engage, with a single-management interface that includes an array of enhanced enterprise-level surveillance features, including Video Wall, Health Monitor, Automated Failover, Active Directory LDAP, Access Control Integration and Software Development Kit (SDK)
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Key players
In Video management software market there are many vendors some of them are Axis Communication, Milestone Systems, 3VR, Siemens, Panasonic and others.
Regional Overview
Presently, North America is holding the largest market share for Video management software market due to high adoption of video analytics among enterprises in various industries for smart devices, IOT implementation. The adoption of software as a service model platform is also impacting the market for video management software in a positive manner as large solution providers have started providing these video management software technologies on cloud to small enterprises. In Europe region, the market for video management software is witnessing high growth rate due to the increasing demand for technologies that can allow companies to share resources and their data that can be self-hosted, cloud hosted and have multi-tenant deployment option.
Video Management Market: Segmentation
Segmentation on the basis of Components:
- Video management Software
- Analog based VMS
- IP Based VMS
- Video management Software Service
Segmentation on the basis of Industry:
- IT & Telecom
- BFSI
- Retail
- Transportation & Logistics
- Energy & Utility
- Others
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