Video Management Software Market Size (2023 – 2030)

The Global Video Management Software Market was estimated to be worth USD 11 billion in 2022 and is projected to reach a value of USD 46.76 billion by 2030, growing at a CAGR of 19.83% during the outlook period 2023-2030.

The fundamental functions of the video management system include gathering videos and maintaining recordings, organizing films, scheduling events, and integrating additional features. Globally, the use of video security and surveillance has increased significantly. Even though security cameras have been present for many years, their use in access control has increased significantly as a result of recent advancements in IP video technology. The technology is more cost-effective and appealing for the majority of cost-centric activities in organizations because of its capacity to store and broadcast video content from the internet. The market for video management software usage worldwide is highlighted in the research.

Key Market Insights:

Organizations may enhance their security and safety and expedite their access control and time and attendance procedures by implementing Anviz's most recent advancements in biometric technology and security. Its products are made to assist companies and institutions in safeguarding their resources, streamlining their workflow, and enhancing their general security stance.

Bosch has released the 12- or 20-megapixel FLEXIDOME multi/0001 camera series, which comes in both infrared and non-infrared versions. It generates multidirectional overviews that are extremely comprehensive.

TagMaster purchased French-based Citilog, a division of Axis Communications. It is likely that the agreement will be completed on April 30 and that Axis will continue to collaborate with Citilog and LaglMaster.

Announcing the growth of its MAXPRO Cloud offering was Honeywell. It is projected that this upgrade will cut ownership costs, boost productivity, and provide the organization with more security and control.

Hanwha Techwin unveiled six new "PTZ PLUS" cameras, which feature a compact and lightweight design and weigh 65% less than conventional PIZ cameras.

Eagle Eye Networks, Inc., a Texas-based company, teamed up with Integrated Solutions to distribute a range of cloud video surveillance solutions and provide top-notch technical support to Australian systems integrators and enterprises. The purpose of this collaboration is to create new opportunities for cloud video surveillance and to establish new sales possibilities in Australia.

Global Video Management Software Market Drivers:

Growing security monitoring might encourage industry expansion:

Security agencies continue to exercise restraint when disclosing to the public the scope of their monitoring activities. Giving police more instruments for monitoring undoubtedly aids in the prevention of some crimes, but there is also a chance of abuse or a violation of individuals' rights. Many significant terror acts throughout the past 20 years have sparked debate about the application of various monitoring technologies. Though few studies have addressed the public, the use of innovative technology for preemptive security and surveillance has been studied and criticized academically. Public-facing studies frequently make the simple assumption that security and privacy must be traded off. Security and surveillance are fields that are changing, and this tendency points to a greater reliance on technological developments. The rising demand for CCTV cameras is another indicator of people's growing concerns about security and monitoring. Prominent corporations are providing an extensive array of apparatuses, among them 8-megapixel security cameras. CCTV security and surveillance cameras come in a wide variety, including IP-powered models, ones with night vision, and ones with colored night vision. As a result, there is a developing demand for video management software.

Growing Need for Real-Time Event Detection to Accelerate Market Expansion:

The ability of VMS to categorize, recognize, and monitor behavior patterns with preset objects in live or recorded video streams is likely to be a key factor driving the market throughout the projected period. Intelligent detection and alarm systems for people, cars, and stationary objects may be integrated into ordinary surveillance networks with the use of real-time video analytics with high-performance capabilities. Real-time detection has aided in reducing thefts, crimes, and other criminal activity while improving social conditions generally and the environment for international trade, which has fueled market expansion over the evaluation period. Over the course of the projection period, the introduction of the new VMS is anticipated to increase market size. MOBOTIX introduced a new video management system in March 2021. MOBOTIX AG and Milestone, a reputable worldwide supplier of video management solutions, are expanding their partnership. Both organizations expect greater synergy with more collaboration, which will be represented in a new software solution named MOBOTIX HUB.

Global Video Management Software Market Challenges:

Lack of technical know-how and worries about risks might impede market expansion:

Cyberattacks and interruptions in recording are possible as the use of video management solutions grows. Concern over video footage security is on the rise. Video management solution providers need to develop and provide their clients with video management solutions. Video management service providers are concerned about the security and privacy of video footage transferred over many channels. Businesses need to reorganize their strategies to account for these issues before putting corporate video settings into practice. Lack of technological know-how, expert knowledge, and awareness, particularly in developing nations, would provide challenges for the market's smooth increase in market value. Furthermore, the market's growth pace would be further disrupted by the strict laws put on it regarding public privacy.

Global Video Management Software Market Opportunities:

When deciding where to put things in the shop, video management software uses analytical data from cameras in a retail setting and shows it. It may also be used to recognize known criminals using artificial intelligence (Al) face recognition technology. Additionally, it may be utilized at access-controlled concerts to assist in strengthening admission protocols and notify attendees of potential occurrences. It is frequently used by big businesses and academic institutions for a range of functions, including executive communication, corporate training, event streaming, and knowledge management. Solutions for video content management (VCM) provide an affordable framework to deal with buffering problems in videos. VCM often publishes snippets of recorded videos. Installing cache proxies across the WANs facilitates the proper sinking of the video content.

VIDEO MANAGEMENT SOFTWARE MARKET REPORT COVERAGE:

Global Video Management Software Market Segmentation: By Technology

• Analog-Based VMS

• IP-Based VMS

• Hybrid VMS

The video management software market has been divided into analog-based, IP-based, and hybrid segments depending on technology. Because governments and businesses were widely implementing traditional video surveillance systems to increase security, the hybrid VMS sector dominated the market by 35%. To improve system functioning and provide better monitoring capabilities, customers have begun adding new IP-based devices to their analog surveillance systems. This has been a key element in the need for software for hybrid video management.

Over the course of the projection period, the IP-based VMS category is likely to increase at the fastest rate by 26%. Due to their many features, including high-resolution image and video capture, a wider coverage area, remote and mobile monitoring, and a lower Total Cost of Ownership (TCO), IP-based cameras are gradually replacing traditional analog-based video monitoring and surveillance systems. Additionally, IP-based VMS is being widely used by governments for surveillance and smart city initiatives. To enhance functionality and provide better business insight for surveillance systems, the open platform video management software also combines IP cameras with onboard video analytic functions including Licence Plate Recognition (LPR), accident detection, and motion detection.

Global Video Management Software Market Segmentation: By Solution

• Video Analytics

• Custom Application Management

• Storage Management

• Data Integration

• Navigation Management

• Intelligent Streaming

• Security Management

• Others

Video analytics, custom solution management, storage management, data integration, navigation management, intelligent streaming, custom solution management, security management, and other categories make up the market for video management software. The market was dominated by the data integration sector since video surveillance and monitoring systems were widely used by 37%. The increasing use of automated number plate recognition systems is another factor contributing to the growth of the data integration market. Video security cameras must be coupled with VMS for automatic number plate recognition systems to perform tasks like recording and stream analysis.

Over the course of the projection period, the category with the highest growth is likely to be the video analytics solution by 19%. In applications like retail consumer analytics, logistics & and transportation, and traffic monitoring, video analytics is essential. Additionally, video analytics is utilized for facial identification, motion detection, people counting, and perimeter monitoring using virtual tripwires. Additionally, it is anticipated that the growing use of video analytics for applications like satellite imaging and spatial data analytics will accelerate the market's growth.

Global Video Management Software Market Segmentation: By Deployment

• On-premise

• Cloud

The market for video management software has been divided into on-premise and cloud segments based on deployment. The market was dominated by the on-premise category by 51%. With an on-premise VMS system, users may install the software on their workstations or servers within the facility and integrate many cameras that are mounted on a site. On-premise VMS has several disadvantages, such as costly upfront purchase, integration, and deployment expenses due to the equipment's hefty investment requirements. However, because there are no membership costs, the cost of ownership is quite modest.

Over the course of the projection period, the cloud-based VMS sector is anticipated to develop at a rapid pace by 40%. This is explained by the fact that small, medium, and big businesses are using cloud-based solutions more and more. High-resolution multimedia material can now be transferred and stored more quickly thanks to developments in cloud data storage and high-speed Internet access. Additionally, off-site hosting is used by cloud-based VMS, and a service provider's Internet connection is used to access camera data.

Global Video Management Software Market Segmentation: By End-Use

• BFSI

• Government

• Healthcare

• Manufacturing

• Retail

• IT & Telecommunication

• Media and Entertainment

• Education

• Others

The BFSI, government, healthcare, manufacturing, retail, IT & communications, media & entertainment, education, and other end-use sectors make up the market for video management software. The rising trend of remote learning and streaming of recorded content is likely to propel the education segment's growth throughout the forecast period by 27%. Video management software is used in learning management systems in the school.

System (LMS), is a piece of software used for training program delivery, administration, tracking, reporting, and documentation. Government rules governing the installation of CCTV cameras in universities and schools are also anticipated to fuel industry expansion. For example, in November 2016, the government of the Indian state of Assam mandated that institutions and schools have CCTV installed on campus.

The market was controlled by the government sector by 21%. The category is likely to develop at the quickest rate during the projected period due to the widespread use of video management software in smart city projects and the infrastructure and logistics sectors. In addition, elements including quick industrialization, the creation of smart cities, the expansion of online streaming, telemedicine, smart manufacturing, and the development of infrastructure and logistics in emerging nations are anticipated to be major contributors to the segment's growth. To foster industrial progress, developing nations have built extensive networks of roads and railroads for the transportation of people and goods.

Global Video Management Software Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

North America led the video management software industry by 45%. This is explained by the existence of significant participants in the sector as well as the region's growing use of expensive IP-based monitoring and surveillance equipment. March Networks (Canada), Exacq Technologies (U.S.), Identiv, Inc. (U.S.), Verint Systems (U.S.), Genetec Inc. (U.S.), and Salient Systems Corporation (U.S.) are some of the major companies in the industry. One of the key reasons driving the demand for video management software in North America is the existence of a robust partner ecosystem made up of resellers, distributors, integrators, consultants, and integrators. These elements are combined with the growing adoption of emerging technologies like big data analysis, cloud computing, IoT, Al, and other analytical tools.

The increasing use of cloud-based video management software (VMS) in developing nations like China and India is likely to make the Asia Pacific the region with the fastest rate of growth in the video management software industry. The Asia Pacific market is likely to grow as a result of the growing use of video management software in smart city projects for surveillance, traffic monitoring, and intelligent transportation systems, among other solutions. This is especially the case in developing nations like China and India. One of the main factors anticipated to propel the market expansion is the Government of India's project, which aims to construct 100 smart cities with both centralized and autonomous command and control centers. Furthermore, it is projected that the governments’ focus on creating 100 new smart cities between 2016 and 2020, together with the fact that China has the greatest number of smart city projects, would support the expansion of the VMS industry.

COVID-19 Impact on Global Video Management Software Market:

The COVID-19 pandemic has resulted in notable economic fluctuations for several industry sectors. The growing global demands are driving up the value of the video management software industry, even amid the pandemic. Industrialized nations extensively used mask detection algorithms, thermal imaging cameras, and facial recognition systems after the coronavirus spread. The pandemic's rising desire for contactless technologies has led to a rise in the market value of video management software in recent years. Thanks to AI-driven cloud systems combined with video management software, security personnel in countries with high infection rates can now keep an eye on patients and lawbreakers.

Global Video Management Software Market Recent developments:

The firm announced today that Spectrio, one of the leading providers of full digital signage systems in the nation, will launch its recently redesigned Spectrio Cloud content management system. Customers can now create and manage all of their digital experiences and Spectrio products on a single platform with the all-new Spectrio Cloud CMS, which provides an enhanced user experience. Years of user feedback led to its development. The new Soectrio Cloud CMS advances the company's goal of creating a single software solution for all of its customer interaction products and services.

Veracode—a provider of intelligent software security solutions—will launch Veracode Fix. Veracode Fix is educated using Veracode's proprietary dataset and then suggests remedies for security flaws found in code and open-source dependencies.

For small and medium-sized enterprises, Milestone Systems A/S, a video management system firm with headquarters in Denmark, introduced XProtect, a scalable and secure cloud-based VMS solution. In addition, the recently released Video Surveillance as a Service (VSaaS) XProtect is intended for use with cloud-native, hybrid cloud, and on-premises components. Additionally, X-protect incorporates cloud services provided by Amazon Web Services (AWS) for data-driven video technology solutions.

 Key Players:

1. Axis Communications

2. Axxonsoft, Inc.

3. Avigilon Corporation Arcules Corporation

4. American Dynamics

5. Bosch Inc.

6. ButterflyMx Limited

7. Backstreet Surveillance

8. Camcloud

9. Dahua Technology

10. Elnfochips plc

• In April 2023: To broaden its range of monitoring and security solutions, Hexagon, a leading supplier of a genuinely comprehensive offering to optimize and protect organizations, announced the completion of its purchase of Qognify, a developer of video management software. Enterprise incident management (EIM) and VMS solutions are offered by Qognify. Through the purchase, Haxagon's real-time monitoring and security reach is expanded, resulting in a more comprehensive solution for incident detection, assessment, and response.

• In April 2023: Leading smart security solution supplier Anviz showcased its most recent cutting-edge integrated security solutions at ISC West 2023, which took place from March 29 to March 31, 2023. These solutions included access control, time and attendance, and surveillance systems.