Video Management Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023
Albany, NY -- (SBWIRE) -- 06/21/2016 -- Video Management Software Market: Overview
Video management software are used for seamless management of digital video, audio, data and playback functionalities in a video surveillance systems. These software suites are specifically designed for managing, processing and storage of the signals from multiple camera feeds. The increasing penetration of video surveillance in wide range of applications such as facility protection, monitoring applications, event video surveillance and cross-border activities, is the key driving force for market growth of video surveillance software market. Furthermore, increasing large scale security network is expected to boost the adoption of video surveillance software market in coming years.
Video Management Software Market: Segmentation
Video management software market is segmented on the basis of number of cameras, deployment type, enterprise type and end-use industry verticals. Video management software are available as per user requirement ranging from small surveillance applications to high – end surveillance applications. On the basis of number of cameras, video management software market is segmented as less than 50 cameras, between 50 to 200 cameras and more than 200 cameras.
Dynamic end-use requirement and rising trend of cloud-based solutions has resulted in development of video surveillance systems for different deployment types. In terms of deployment type, video management software market is classified as on-site, cloud based and application based. On the basis of enterprise type, video management software is segmented into small and medium businesses and large organizations. With increasing need of video surveillance, video management software is expected to find its application in various end-use industry verticals. In terms of end-use industry, video management software market is classified as retail, transportation, healthcare, telecom and IT, banking, financial services and insurance (BFSI), military and defense, government and public sector, manufacturing, hospitality and media and others (education and sports).
Video Management Software Market: Growth Propellers
The increasing security concerns globally is the key factor driving the video management software market. The demand is largely driven from cross-border areas and public sector. Alongside this, augmenting demand for high quality video processing, is fueling the market growth of video management software market. However, privacy concerns in terms of adoption of video surveillance systems is expected to suppress its market growth. Along with this, large storage requirement by video surveillance systems, is expected to curb its market growth. With increasing penetration of video surveillance systems especially in emerging economies, video management software developers are expected to find huge market opportunity in near term.
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Video Management Software Market: Region-wise Outlook and Trends
On a global scale, North America is expected to hold, market leading position in the adoption of video management software suites. This is linked to the presence large scale video surveillance systems and high-end security network established in the region. However, Asia Pacific region is expected to dominate in terms of adoption of video management software solutions in the coming years. Increasing government spending in security sector and developing large infrastructure (commercial as well as domestic) is expected to boost the demand for video management software solutions in the region. In terms of number of cameras, video management software's with capacity of between 50 to 200 cameras is expected to hold the large market share.
The increasing penetration of video surveillance in public places such as shopping malls, retail stores are anticipated to be the key aspect behind the growth of this segment. In terms of deployment type, on-site solutions are expected to hold largest market share, however, with increasing adoption of cloud-based solutions, video management software's for cloud–based applications are expected to foresee a faster growth rate in coming years.
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