According to a report available on Radiant Insights, Inc.; the worldwide VMS software market is likely to attain profitable gains in terms of revenue by 2022.Factors such as rapid infrastructure development, rising implementation of large-scale security networks, increasing use of IP cameras, growing video surveillance, and increasing government expenditure on security can drive the market over the forecast period (2017 to 2022).
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Rising anxieties owing to growing cyber threats is the major driving factor for the market. video management software suites run on computer or mobile devices and are intended for storage and processing of data captured from various cameras connected in a communication channel. They can be broadly used to manage digital audio, video, data, and playback functions in a video surveillance system. These suites are easy to deploy and can be easily integrated with third-party products and digital business systems.
VMS software comprises a wide range of applications, including monitoring, protection, event video surveillance, and cross-border activities. Growing use of tablets, smartphones, and other smart devices in businesses can result in a positive outlook for the market. Mobile apps are broadly accepted in video surveillance systems owing to their flexibility since users can remotely access and manage live as well as recorded videos from different locations at any time.
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For instance, Milestone Systems recently introduced VMS software called XProtect Professional+. This software can be connected with multiple servers from either a single location or several different settings and offers users the capability to explore a video from any place. This VMS software can also be helpful in managing a user’s profiles, maps, alerts, cameras, and alarms.
On the other hand, concerns regarding recordings and storage of high-resolution videos and many issues related to privacy may restrain market growth.
The worldwide VMS software market can be fragmented on the basis of type and application. Based on type, the market can be categorized into standard level, professional level, enterprise level, and cloud. Based on application, the VMS software market can be classified into manufacturing, government, entertainment and media, cloud services, automotive, and bank and financial applications.
Geographically, the VMS software market can be divided into United State, Europe, Japan, China, India, and Southeast Asia. United States represents the largest market owing to the presence of developed infrastructure, existence of advanced video surveillance systems, and availability of high-end security networks in this region.
Read more related reports by Radiant Insights:
• Real Estate Software Market
• Motion Control Software Market
Southeast Asia VMS software market is expected to show rapid growth over the forecast period due to rising government expenditure on security and developing state-of-the-art infrastructure. Increasing focus on smart city projects and intelligent transportation system in developing countries, including China and India, are major driving factors. Enterprise customers and numerous end users are extensively implementing IP- and cloud-based video surveillance systems in this region. Sectors such as retail, sport stadiums, transportation, government, and banking, financial services, &insurance (BFSI) emerged as some of the most attractive end-users in the VMS market in the region.
Key companies operating in the VMS software market include Axis, Milestone Systems, Qognify, Video Insight, and Tyco Security. The market is tremendously competitive due to existence of numerous vendors worldwide. Therefore, companies are focusing on development of innovative and cost-effective products, while also focusing on providing consistent user experience.
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