Security Systems News

AUG 2017

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www.securitysystemsnews.com August 2017 s EC u RI t Y s Y st EM s NEW s Security Stat S 2 By Spencer Ives PUNE, India—The market for video management software will rise $3.71 billion in 2016 to $10.54 billion by 2021, according to a report from research firm Market- sandMarkets. MarketsandMarkets valued the North American market at $821.9 million in 2016 and projects that, with a roughly 20 percent CAGR, the region will reach up to about $2.3 billion by 2021. The North American market for VMS solutions has several unique aspects, Kaipa Shashank, Mar- ketsandMarkets' research analyst, information and communications technology practice, told Security Systems News. "For instance, the enterprises which are adopting the VMS solution in this region are far more concerned about the secu- rity, and they are highly investing around the security solutions," he said. Shashank identified a shift from traditional systems to digital sys- tems as a major technological trend that will impact North America's VMS market. The report segments the market technology into IP-based and ana- log-based systems and the divide between these two categories makes North America stand out, accord- ing to Shashank. "The Northern American region is currently at a stage where we can find a 50-50 market share for the analog as well as the IP cameras. [This] means that traditional legacy systems is showing a dominance in this mar- ket as well as the growth of the IP surveillance [camera systems] also has been at a high growth rate." Other geographies do not have a prevalence of legacy systems and are focused more on integrating new IP-based systems, Shashank continued. The increased deployment of IP video for surveillance solution, Sha- shank said, will help drive the mar- ket as well as deeper integrations with existing camera solutions. The market will also be driven by increasing investments from orga- nizations with growing security concerns. Analog solutions had about 54.38 percent market share in North America at the end of 2016, Shashank noted, but this will be overtaken by an approximately 59.63 percent market share of IP systems by the end of 2021. MarketsandMarkets also seg- mented the market by VMS solu- tions that are cloud-based or on premise. "Globally, VMS solutions are majorly deployed on cloud and on-premises. For the year 2016, VMS solutions in North America are majorly deployed over on- premises by 53.89 percent, which will be overtaken by the cloud deployments with 66.13 percent market share by the end of year 2021." Aggressive pricing strategies among key vendors will also impact the North American region, Sha- shank said. "Since the market is becoming very saturated in this space, then the market players definitely are going for the aggres- sive pricing strategies to satisfy their enterprise customers and also to … convince their enterprise customers to transform some legacy systems to more advanced IP systems." The pricing competition has led to a high penetration rate of VMS in the North American market, Sha- shank noted. "We have analyzed that the three verticals which will have the major market share during this period will be the government sector, the bank- ing and financial sector and also the retail sector," Shashank said. "The major challenges which the VMS vendors … do face is the integrators' ability to properly size, scale, and configure the IP sys- tems," he said. Shashank pointed to AxxonSoft, Milestone Systems, On-Net Surveil- lance Systems, Aimetis Corpora- tion, Exacq Technologies, 3VR, Verint Systems, Genetec, Salient Systems and March Networks as some of the market's key vendors. Additionally, Shashank listed Wavestore, Iomniscient and Ein- fochips as key innovators in the space. SSN Global VMS market to reach $10 billion in the next several years DICE Corporation and the DICE Corporation logo are registered trademarks of DICE Corporation in the U.S. and other countries. Copyright 2017 DICE Corporation. All rights reserved. dicecorp.com/software/monitoring 1.800.786.3423 | 989.891.2800 International The Most Dynamic Option in Event Management CRM Texting Integrated Video PBX Alarm History Cloud Hosting Mobile Monitoring Changing the way the industry thinks about event management Our Matrix Monitoring system includes the features you've come to expect in an automation system, like workflows and scripts. But we didn't stop there. We continue to create new ways to make your system more effective for you with features such as: Join us at the 2017 DICE User Group | Register as an attendee, sponsor, or speaker at diceusergroup.com

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