The video management software (VMS)is used by various commercial and government agencies. It records the live video footage in the software. The global video management software (VMS) market can be segmented on the basis of type, application, deployment and region. On the basis of type, it is segmented into IP-based VMS and analog-based VMS. IP- based VMS technology is anticipated to lead the type segment throughout the forecast period. The high demand for IP- based VMS technology on the account of various qualities such as high resolution of the camera, easy scalability of the picture and low cost of the IP-based video management software technology.
On the basis of application, it is sub-segmented into manufacturing and automotive, transportation and logistics, government, healthcare and life sciences, education and others. The government is expected to lead the application segment. The growing use of the video management software technology in order to improve the safety and security measure of the country is expected to be the primary reason for the sub-segment to lead the application segment. On the basis of deployment type, it is sub-segmented into cloud based, on-site, application based.
On site premises is expected to be the major sub-segment of the deployment segment. The on -site premises is anticipated to hold the largest market share for the deployment segment over the forecast period. The low cost of the ownership coupled with low annual subscription cost is anticipated to be the primary reason for the sub-segment to lead deployment segment.
The global Video Management Software (VMS) Marketis anticipated to expand at a CAGR around 23.0% during 2018-2027. It is estimated to value at around USD 16.0 billion by 2027. The increasing demand for the high resolution videos by the various government agencies in order to enhance the security measures is the major factor for the growth of the global video management software (VMS) market.
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In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006.
Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
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By region, global video management software (VMS) market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is expectedlead the global video management software (VMS) market. The existence of highly developed security system coupled with growing adoption of the video surveillance system is expected to be the primary reason for the region to hold the largest market share for the globalvideo management software (VMS) market.
Asia-Pacific is anticipated to be the fastest developing region for the global video management software (VMS) market. The increasing deployment of the surveillance system by the government on a large scale is anticipated to be the major factorto increase the demand for the video management software in the region.
Increasing application of the video management technology by the government is anticipated boost the growth of the global video management software (VMS) market
The enhancedfeatures of the video management software coupled with high demand from various applications such as government, automotive and healthcare in order to maintain security is anticipated to upsurge the market growth of the video management software market worldwide.
The report titled “Video Management Software (VMS) Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global video management software (VMS) market in terms of market segmentation by type, by application, by deployment and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global video management software (VMS) market which includes company profiling of key companies such as Honeywell International Inc.,Salient Systems,AxxonSoft,Schneider Electric,Milestone systems,On-Net Surveillance Systems,Aimetis Corp.,Tyco Security Products,3VR Inc.,Verint Systems Inc,Genetec Inc,March Networks,Bosch Sicherheitssysteme GmbH,Surveon Technology Inc., and Hanwha Techwin CO., LTD.
The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global video management software (VMS) market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
