The global video management software market is anticipated to grow at a CAGR of 23.2% during 2016 to 2023. The market has generated the revenue $ 3710 million in 2016 and is anticipated to reach up to $15982.65 million by 2023. The major boosting factor of the global video management software market are increasing demand for high quality video processing, dynamic end-use requirement, rising trend of cloud-based solutions, and rising security anxiety globally due to rising security threats. The developing economies all over the globe form a large part of the world economy and are witnessing a high growth in Small Medium Businesses (SMBs). It is estimated that about 78% of U.S. small businesses expects to adopt cloud computing by the year 2020. The major hampering factors of the market are lack of standardization and integrator’s ability to properly scale, size, and configure an IP system.
The global video management software markets are segmented into its service, solution, vertical, technology, and deployment type. The service segment is further divided into professional services and managed services. The solution segment is sub segmented by video intelligence, case management, advanced video management, data integration, custom application management, intelligent streaming, mobile application, navigation management, storage management, and security management. The vertical segment is sub segmented into government and defence, banking, financial services and insurance, healthcare, transportation and logistics, telecom and IT, retail, manufacturing, energy and utility and others. Technology segment is sub segmented into analog-based VMS and IP-based VMS. The deployment type is sub segmented into cloud and on-premises. Internet-based computing is also known as cloud, which offers shared computer resources to the users.It is generally a model for allowing on demand access to the computing resources. In today’s world the organizations of all sizes are gradually adopting cloud technology to drive business value. On-premises software is installed on computers on the place of the organization or person using the software, rather than on remote facility such as a cloud or server. Enterprise video management software is a set of computer programs having common business applications, tools for modeling the entire organization works, and develops tools for building applications.
On the basis of geography, the Video management software market is segmented into North America, Europe, Asia Pacific and Row. Currently, North America dominates the video management software market followed by Europe, owing to the existent of high-end security network and large scale video surveillance systems established in the region. However, due to evolving infrastructure and the growing government expenditure in security sector, it is projected to upsurge the demand for” video management software” solutions in the Asia-Pacific. Hence Asia-Pacific is also anticipated to holds the major part of the video management software market throughout the forecast period.. The major players of the video management software market are Axxonsoft, Aimetis Corporation, Axis, Aimetis, Axxonsoft, Dahua, Exacq Technologies, Genetec, Inc, Hikvision, Intelligent Security Systems (Iss), Ipronet, March Networks., Mindtree, On-Net Surveillance Systems, Inc, 3vr, Inc. Acquisition, merger, innovation and new product launch are the major strategies which help to sustain in the market.