According to the recent study the video management system market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 23% to 25% from 2023 to 2028. Growth in this market is primarily driven by rising requirement of security surveillance and increasing demand for high-quality video
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in video management system market by component (solution and services), technology (analog-based VMS and IP-based VMS), deployment type (on-premises and cloud), organisation size (large enterprises and SMEs), application (mobile application, intelligent streaming, security and surveillance, storage management, video intelligent, data integration, case management, advanced video management, custom application management, and navigation management), end use industry (banking, financial services and insurance, healthcare and life science, retail, IT, manufacturing and automotive, tourism and hospitality, government and public sector, education, media and entertainment, transportation and logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Cloud market is expected to remain the largest segment during the forecast period.”
Based on deployment type, the video management system market is segmented into on-premises and cloud. Lucintel forecasts that the cloud market is expected to remain the largest segment due to the increasing use of cloud-based video management systems due to its readily available advantages, including quick deployment options without configuration, and simple internet access to VMS without any on-site servers.
“Within the video management system market, the retail segment is expected to remain the largest end use industry”
Based on end use industry the retail segment is expected to witness the highest growth over the forecast period due to the increasing risk of the risk of theft and scams and rising requirement to have well managed stores.
“North America will dominate the video management system market in near future”
North America will remain the largest region due to the presence of established players and growing concern to protect critical infrastructure and national borders with the use of VMS in the region.
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Major players of video management system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Bosch, Hanwha Techwin, Honeywell, Schneider Electric, Axis Communications, Johnson Controls, and Hikvision Digital are among the major video management system providers.
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