Genetec Takes #1 Global VMS Vendor Position According to Latest IHS Report
According to a recent report published by business intelligence provider IHS Markit, Genetec Inc., a technology provider of unified security, public safety, operations and business intelligence solutions, was named the world’s number one vendor of Video Management Systems (VMS). IHS-reported results from 2015-2018 also point to the company sustaining a 24.1 percent CAGR (compound annual growth rate) for the past three years in this category.
In the Americas, Genetec remains the leading VMS manufacturer for eight consecutive years, with an 18.3 percent share of the $4.1 billion market. Genetec has also taken the number one position in the $1.7 billion market for back-end video surveillance equipment in the Americas. In the rest of the world, Genetec grew its VMS revenue at a fast rate: In EMEA, Genetec revenues grew by 20.5 percent in 2018, while in APAC (excluding China), Genetec grew its revenues by 22.5 percent.
“As a privately owned, independent manufacturer of IP-based physical security solutions, we reinvest a much higher proportion of our annual top-line revenue into R&D than most,” said Pierre Racz, president, Genetec Inc. “Our independence and single-mindedness have helped us earn the trust of enterprise and government users. We want to delight the customer. Circumstances have propelled us to be outspoken about privacy and cyber security. These factors, along with good fortune, strong partnerships and a great team, are some of the factors that explain the appeal of our solutions. We will continue to lower the friction with which our customers integrate new sensors and other systems into the decision making of their operations.”
According to IHS Markit (2017 Video Surveillance Market Share Database, 2017 Access Control Intelligence Database and 2018 ANPR & Detection Sensors Report) Genetec is the only security and public safety solutions developer to hold top 10 global rankings across all physical security industry sectors including video management software (VMS), access control software and automatic license plate recognition (ALPR) software.