Fact.MR released a report that states the global video management software (VMS) market is expected to be valued at $4 billion in 2022 and reach $30 billion by 2032 while displaying a CAGR of 22.63 percent during the forecast period. The growth of the market can be attributed to the penetration of advanced technologies like computer vision and video analytics, according to the report.
The report finds that demand for VMS is expected to rise as of offers reliability, cost-effectiveness and enhanced accuracy. Also, the growing proliferation of video software to lessen crime rates is anticipated to augment the market size during the forecast period.
VMS can be easily integrated with various third-party solutions and equipment like fire alarm systems, intrusion detection systems, and video analytics to enhance the capability of the overall surveillance system. Such added features allow the software to offer facility managers various camera views, thus, helping them to effectively deal with emergencies.
As per the analysis, North America is anticipated to be dominant in the global video management software market during the forecast period. North American prominence can be attributed to the presence of established players in the region. According to Fact.MR, the North American video management software market is expected to register a CAGR of 19 percent from 2022 to 2032.
Players in the market include Exacq Technologies (U.S.), March Networks (Canada), Identiv Inc. (U.S.), Genetec Inc. (U.S.), Verint Systems (U.S.), and Salient Systems Corporation (U.S.). Also, rising adoption of modern technologies such as cloud computing, big data analysis, and other analytical tools, is another vital factor developing the market during the forecast period.
In July 2021, Edge360 announced the launch of its new VMS, Surveill VMS, which is the first fully containerized VMS running on microservices. In April 2022, Qognify launched a new video management software called Qognify VMS. The solution offers bi-directional integrations with many other solutions such as access control, intrusion detection, and video analytics.
