Milestone Systems and Genetec remained the two largest suppliers of video management software (VMS) in 2013 in a market worth more 900m dollars, according to recently published estimates from the US-based market research firm IHS Inc.
The global VMS market is forecast to grow to over $3 billion in 2018 with all four major world regions analysed (EMEA, Americas, China, and Asia) exhibiting strong double-digit expansion. The Chinese market is forecast to grow fastest.
Jon Cropley, principal analyst for video surveillance at IHS, said: “Milestone Systems and Genetec have been the largest suppliers of VMS for the past five years. However, there has been big changes in the rankings of other top 10 suppliers. Hikvision and Avigilon are just two companies that gained share.”
Despite this, the overall VMS market remains fragmented with no single supplier possessing share greater than 10 percent. The Danish company Milestone Systems had the largest share of the global market in 2013 (it shared the top spot with Genetec the year before). Milestone also retained the largest market share in EMEA while Genetec, a Canadian firm, retained the largest market share in the Americas.
According to the market research company, the VMS space will remain highly competitive within the next five years and many big changes in the top ten market share ranking can be expected. Readers should note that the market share estimates are based on supplier revenues from the sales of VMS software and licenses during the 2013 calendar year; shares are not calculated from software shipments or installations.
