Future of the worldwide Video Management Software Market – Growth, Latest Patterns & Forecast 2026
Selbyville, Delaware, United States, October 7 2020 (Wiredrelease) Global Market Insights, Inc –:Video management software (VMS) market is anticipated to witness tremendous growth in the coming years due to the increasing popularity of video surveillance systems. The video management software is a key part of the IP camera system. It is generally responsible for both locating as well as attaching to the IP cameras that are present on the network, thereby providing a safe connection to the cameras, and also recording the specified video from the cameras. The software is also capable of giving security alerts to the security personnel.
Video management software (VMS) market is segmented in terms of component, deployment model, technology, application, and regional landscape.
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Based on component, the VMS market is divided into solution and service. The solution segment is further divided into mobile application, advanced video management, case management, storage management, and data integration. The data integration segment is likely to witness a CAGR of over 18% through the forecast timeframe since smart city projects require data integration solutions to improve the city surveillance. The mobile application segment will observe a CAGR of over 20% over 2020-2026 as these solutions gives security agencies with remote access to recorded & live videos.
The service product segment is divided into managed services and professional services. The managed services segment will observe a CAGR of nearly 25% through the projected timeframe owing to the high adoption of external expertise by enterprises to manage complex VMS solutions. The professional services held a market share of over 75% in 2019 as these services ensure smooth and fast deployment of new solutions.
With respect to application, the VMS market is bifurcated into tourism and hospitality, government & defense, retail, BFSI, IT & telecom, education, and healthcare. The BFSI sector will witness a CAGR of 18% over 2020-2026 due to the need to improve the security of different branches of financial institutions and banks. The healthcare sector recorded a market share of around 12% in 2019 as hospitals and healthcare institutes are deploying VMS solutions to protect expensive and critical healthcare equipment.
The IT & telecom sector is likely to observe a CAGR of over 16% over the forecast time period as Telco’s are deploying different VMS solutions to protect their business facilities. The tourism and hospitality segment will witness a CAGR of 21% through the analysis period due to increasing use of video surveillance for increasing the safety of tourist.
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From a regional frame of reference, the Latin America VMS market will register a CAGR of nearly 15% over 2020-2026 as the extensive penetration of data center facilities are driving the demand for VMS solutions for facility protection. The MEA VMS market held a market share of around 6% in 2019 attributed to presence of luxury restaurants and international tourist visits.
TABLE OF CONTENTS:
Chapter 3 (VMS) Industry Insights
3.2 Industry segmentation
3.3 Industry landscape
3.4 Video management software ecosystem analysis
3.5 Video management software features
3.6 Impact of COVID-19 outbreak
3.6.1 Impact by region
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 Middle East & Africa
3.6.2 Impact on industry value chain
3.6.3 Impact on competitive landscape
3.7 Technology & innovation landscape
3.7.1 Connected video cameras
3.7.2 Scalable cloud-based storage
3.7.3 Power over Ethernet (PoE)
3.8 Regulatory landscape
3.8.1 North America
184.108.40.206 NIST Special Publication 800-144 – Guidelines on Security and Privacy in Public Cloud Computing (U.S.)
220.127.116.11 Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U.S.)
18.104.22.168 Personal Information Protection and Electronic Documents Act [(PIPEDA) Canada]
22.214.171.124 General Data Protection Regulation (EU)
126.96.36.199 German Privacy Act (Bundesdatenschutzgesetz- BDSG)
3.8.3 Asia Pacific
188.8.131.52 Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)
184.108.40.206 Secure India National Digital Communications Policy 2018 – Draft (India)
3.8.4 Latin America
220.127.116.11 National Directorate of Personal Data Protection (Argentina)
18.104.22.168 The Brazilian General Data Protection Law (LGPD)
3.8.5 Middle East & Africa
22.214.171.124 Law No 13 of 2016 on protecting personal data (Qatar)
126.96.36.199 Federal Law No. 2 of 2019 on the use of ICT in Healthcare (UAE)
3.9 Industry impact forces
3.9.1 Growth drivers
188.8.131.52 Rising concerns about security
184.108.40.206 Increasing demand among organizations from developing regions
220.127.116.11 Need for high quality data processing
18.104.22.168 Technological advancements in video surveillance
3.9.2 Industry pitfalls and challenges
22.214.171.124 Risks of data security & protection
126.96.36.199 Stringent rules and regulations
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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