Video Management Software Market Size 2023, Forecast

The Video Management System Global Market Report 2023 by The Business Research Company, provides video management system market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Video Management System Global Market Report 2023, the market size will grow from $8.98 billion in 2022 to $11.12 billion in 2023 at a compound annual growth rate (CAGR) of 23.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the video management system is expected to grow to $24.12 billion in 2027 at a CAGR of 21.4%.

An increase in security surveillance is expected to propel the growth of the video management system market going forward. Surveillance refers to the monitoring of the behaviour and activities for information gathering, influencing, and managing. The video management system is used to manage data streamed from various surveillance devices such as security cameras. It helps the user to access real-time videos, record, store, and playback recorded videos, and derive useful insights from the surveillance site.

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The video management system market is segmented:

1) By Component: Solution, Services

2) By Technology: Analog-Based VMS, IP-Based VMS

3) By Organization Size: Large Enterprises, Small and Medium Enterprises (SMEs)

4) By Deployment Type: On- Premises, Cloud

5) By Application: Mobile Application, Intelligent Streaming, Security And Surveillance, Storage Management, Data Integration, Case Management, Navigation Management, Other Applications

Technological advancement is a key trend in the video management system market. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, in April 2022, Qognify, a US-based software company launched Qognify VMS, new video management software that stores video data in the cloud to meet the specific physical security needs of organizations. This enables customers to scale storage space quickly, keep the hardware footprint small, and benefit from the resiliency of cloud technology.

The video management system market report table of contents includes: