- Security TWENTY
- Women in Security
Milestone Systems and Genetec last year were evenly matched as the top suppliers of video management software (VMS) in a market worth more than half a billion dollars. This is according to a new report on video surveillance equipment from IMS Research, now part of US market research firm IHS Inc.
The global VMS market for CCTV and video surveillance was valued at more than $650m in 2012, with forecasts projecting revenue to hit north of $1.6 billion by 2017. All three geographic regions representing the Americas, Asia and the collective Europe-Middle East-Africa (EMEA) territory will exhibit strong double-digit expansion during the next five years. Asia, driven largely by China, will be the fastest-growing area for VMS.
Jon Cropley was principal analyst for video surveillance at IHS and author of the report from which these findings were taken. He said: “While ranking of the top four suppliers remained unchanged, last year marked the first time that the number one spot was held concurrently by two entities. Milestone Systems, which had held the pinnacle position since the VMS category was added to the IHS video surveillance reports in 2004, retained the largest market share in EMEA, but rival Genetec was the top performer in the Americas.”
Even so, the overall VMS market remains fragmented with no single supplier possessing share greater than 10 percent, according to the research firm. Moreover, some of the smaller suppliers—particularly those in Asia—are growing much more quickly than the market on average, Cropley added. The VMS space will remain highly competitive within the next five years, with innovative solutions and keen prices expected to be critical variables. The healthy projected growth, however, could mean rich rewards for the most successful suppliers.
The report titled “The World Market for CCTV and Video Surveillance Equipment – 2013 edition” is available now from IHS. Readers should note that the market share estimates are based on supplier revenues from the sales of VMS software and licenses during the 2012 calendar year; shares are not calculated from software shipments or installations.