Video Management System Market To Reach $51.68 Billion By 2030

Video Management System Market Growth & Trends

The global video management system market size is anticipated to reach USD 51.68 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 20.3% from 2023 to 2030. The security and surveillance industry is undergoing significant transformation, with a clear shift towards increased dependence on technological advancements. Moreover, key drivers such as the rising trend of urbanization, industrialization, and a heightened awareness among organizations regarding compliance with payment services regulations and standards exert significant influence on the market. Furthermore, the market is poised for growth, fueled by expanding government support for advanced technology and solutions and the rising per capita income, which is expected to propel the market's growth rate.

The market is experiencing dynamic growth, primarily fueled by its IoT and AI technologies integration. Growing security threats and the need to protect assets, people, and critical infrastructure have led organizations to adopt more robust video surveillance systems. VMS solutions integrated with IoT and AI offer enhanced security features, such as real-time threat detection and immediate alerts. Furthermore, the rapid pace of urbanization and industrialization is driving the need for comprehensive surveillance solutions. VMS are used for security and monitoring traffic, managing public spaces, and enhancing operational efficiency in smart cities and industrial complexes.

Increasing awareness among organizations about the importance of complying with regulations and standards related to payment services and data protection has led to adopting more advanced VMS solutions. These systems help organizations maintain compliance and ensure data privacy. Many governments worldwide promote adopting technology and surveillance solutions to enhance public safety and infrastructure management. This support includes funding and incentives for the implementation of advanced VMS systems. For instance, in September 2023, Eagle Eye Networks, Inc., a prominent player in the global cloud video surveillance industry, unveiled the third iteration of its Eagle Eye Video API Platform. Eagle Eye resellers, developers, and technology partners widely employ this upgraded API platform globally. Features of the new API include its comprehensiveness, designed to streamline developers' implementation of video applications.

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Video Management System Market Report Highlights

• In terms of component, the solution segment led the market in 2022 with with the largest revenue share of over 68.0%. It plays a crucial role in various industries and applications where video footage needs to be captured, stored, organized, and analyzed

• Based on technology, the IP-based VMS segment led the market in 2022 with the largest revenue share of over 69.0%. IP-based VMS systems offer scalability, higher resolution, remote access, and integration capabilities, making them popular for modern video surveillance applications

• Based on deployment, the on-premises segment held the largest revenue share of over 58.0% in 2022, owing to its appeal to businesses and institutions with stringent data security and privacy requirements. These organizations prefer on-premises solutions as they provide full control over their video data infrastructure and ensure compliance with data protection regulations

• In terms of enterprise size, the large enterprise segment held the largest revenue share of over 68.0% in 2022, owing to its robust demand for comprehensive surveillance solutions. Large enterprises often require advanced VMS to efficiently monitor and secure expansive facilities, campuses, and multiple locations

• In terms of application, the security & surveillance segment held the largest revenue share of over 27.0% in 2022, owing to the growing emphasis on safety and security across various industries and regions. Heightened security concerns, increasing incidents of theft and vandalism, and the need to monitor critical infrastructure have driven organizations to invest in advanced video management solutions

• In terms of region, North America dominated the market in 2022 with a revenue share of over 34.0%. The region has a robust and mature security infrastructure, with a high demand for advanced surveillance and monitoring solutions across various industries, including commercial, government, healthcare, and retail

Video Management System Market Segmentation

Grand View Research has segmented the global video management system market based on component, technology, deployment, enterprise size, application, end-user, and region:

Video Management System Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Software

• Services

  • Professional Services

  • Managed Services

Video Management System Technology Outlook (Revenue, USD Billion, 2017 - 2030)

• Analog-based VMS

• IP-based VMS

Video Management System Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

• Cloud

• On-premises

Video Management System Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• Small & Medium Size Enterprise

• Large Enterprise

Video Management System Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Security & Surveillance

• Intelligent Streaming

• Advanced Video Management

• Data Integration

• Navigation Management

• Storage Management

• Others

Video Management System End-user Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI

• Government

• IT & Telecommunication

• Healthcare and Life Sciences

• Manufacturing

• Transportation and Logistics

• Others

Video Management System Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa (MEA)

  • Kingdom of Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Video Management System Market

• Robert Bosch GmbH

• Honeywell International Inc.

• Schneider Electric SE

• Axis Communications AB

• Johnson Controls

• Hangzhou Hikvision Digital Technology Co., Ltd.

• NetApp, Inc.

• Zhejiang Dahua Technology Co., Ltd.

• Verint Systems Inc.

• LTIMindtree Limited