The global video management software market is expected to be valued at $4 billion in 2022 and reach $30 billion by 2032, according to market research by Fact.MR.
The VMS market is estimated to be experiencing a compound annual growth rate (CAGR) of 22.63% during the forecast period. The growth of the market can be attributed to the penetration of advanced technologies like computer vision and video analytics, according to the Ireland-based market research firm.
Demand for video management software is expected to rise given to reliability, cost-effectiveness and enhanced accuracy. Also, the growing proliferation of VMS to lessen crime rates is anticipated to augment the market size during the forecast period.
Video management software can be easily integrated with various third-party solutions and equipment like fire alarm systems, intrusion detection systems and video analytics to enhance the capability of the overall surveillance system. Such added features allow the software to offer facility managers various camera views, thus, helping them to effectively deal with emergencies.
North America Expected to Lead VMS Market
As per the analysis, North America is anticipated to dominate the global VMS market during the forecast period. Domination of the region can be attributed to the presence of established players in the region. According to Fact.MR, the North American VMS market is expected to register a CAGR of 19% from 2022 to 2032.
More information about the report is available here.
