Markntel Advisors, a leading consulting, data analytics, and market research firm, recently published a report, that describes prominent players' potential and recent achievements and forecasts their expected market influence in the upcoming years. The concerned report description demonstrates the operation of the players including new launching of innovative products, strategic collaborations, or partnerships, that bolster the growth of the global video management software market.
One of the leading market players and software development companies that offers video management software, physical security information management platform, cloud solutions, and in-house-designed customizable AI video analytics. The company 2024 unveiled a 2.0 version of the video management system with new features and technologies to improve the efficiency and usability of security systems. Along with this, another potential market player, Cannon, the global leader in imaging solutions, launched software in 2023 that helps in improving video visibility using AI and favors night monitoring and advanced surveillance. This facilitates seeking comprehensive attention from the customers also with the remunerative growth of global video management software market.
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The report further comprises “Global Video Management Software Market Research Report: Global Video Management Software Industry bifurcations - By Component, By Technology, By Deployment, By End Users, Company (AxxonSoft Inc., Canon Inc., EInfochips Inc., Genetec Inc., Hanwha Vision Co. Ltd., Johnson Controls International PLC, March Networks, Panasonic Holdings Corporation, Robert Bosch GmbH, Salient Systems Corporation, Verint Systems Inc., Honeywell International, Schneider Electric, Axis Communications, Hikvision Digital, And Others) and Others Forecast (2024-2030)”, According to the report, the Global Market size of Video Management Software is valued at USD 11.25 billion in 2023 & is estimated to grow at a CAGR of around 13.46% during the forecast period, i.e., 2024-30. The market growth is also driven by the rising prevalence of theft cases coupled with the mounting automation of industrial units.
Leading Segmentation Analysis Based On End-Users, Technology, and Region
The Video Management Software market is segmented into five segments based on component, technology, Deployment, end-users, and region.
- Based on End-Users, the market is segmented into BFSI, Healthcare and Life Sciences, Government, Manufacturing & Automotive, Transportation & Logistics, Media & Entertainment, and Others in 2024, The BSFI segment will dominate the Video Management Software Market
- Based on technology, the market is segmented into Analog-based VMS, and IP-based VMS, in 2024, the IP-based VMS segment will dominate the Video Management Software Market
- Based on region, the market is segmented into North America, South America, Europe, Middle East & Africa, and Asia-Pacific, North America dominates the Video Management Software Market
Growing Adoption of Next Generation & AI-Based Video Surveillance Systems
The inclination of consumer preference towards these innovative technology systems i.e., Next generation and AI-based surveillance systems, propel top market players to increase emphasis in the flourishing development of the industry. These systems are based on AI technology, they provide results in real-time and offer insights based on the data collected by surveillance systems. Therefore, led to the exponential growth of industry expansion with remunerative growth objectives.
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Frequently Asked Questions (FAQs)-
- What is the expected CAGR value of the Video Management Software Market during the forecast period?
- What are the trends influencing the current scenario of the Video Management Software market?
- What key factors would propel and impede the Video Management Software industry across the Globe?
- How has the industry been evolving in terms of geography & Video Management Software adoption?
- Which region will dominate the global Video Management Software in 2024?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
- Which is the Leading Technology segment in the Video Management Software market?
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