TMCnet News
Video Management System Market Size to Reach USD 47.24 Billion in 2030 | Emergen ResearchVANCOUVER, BC, Feb. 1, 2023 /PRNewswire/ -- The video management system market size reached USD 8.82 Billion in 2021 and is expected to register a CAGR of 20.4% during the forecast period, according to latest analysis by Emergen Research. Video management systems is experiencing significant market revenue growth owing to increasing adoption of video surveillance in various industries, such as retail, transportation, and government. Video management systems are deployed in areas of traffic management and surveillance for enhancing transportation and passenger safety.  According to the World Bank, approximately 1.3 million people die each year as a result of road traffic crashes. Video management systems are utilized to process and organize multiple streams of live video footage from CCTV cameras and traffic cameras on roads. These systems are designed to quickly identify any incidents and continuously gather real-time traffic data to improve traffic flow and enhance highway safety. Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1549 Additionally, advancements in technology, such as integration of artificial intelligence and machine learning, are accelerating demand for video management systems. Video management system market is highly competitive with many players offering different solutions, from traditional on-premises to cloud-based video management systems, and open platform systems. Furthermore, growing demand for remote monitoring and cloud-based solutions, as well as regulatory compliance requirements, are significantly contributing to market revenue growth. Drivers: Advancements in modern technology, such as incorporation of machine learning (ML) and artificial intelligence (AI) in monitoring, surveillance, and detection are driving the growth of the market. These technologies can be used to improve the monitoring, surveillance, and detection capabilities of the system. ML algorithms are increasingly using to analyze video footage in real-time, detecting and recognizing objects, people, and vehicles, and generate alerts for any suspicious activity. AI algorithms are also used to perform advanced analytics on video footage, such as identifying patterns, predicting potential incidents, and generating automated reports. Additionally, AI and ML can be used to improve the accuracy and efficiency of video surveillance, such as reducing the number of false alarms and enabling real-time monitoring of multiple cameras at once. Incorporation of these technologies also accurately enables the tracking and identification of individuals, and automatic number plate recognition (ANPR) in video surveillance systems. Moreover, rising interest of governments in investing in cloud-based video surveillance in various regions is expected to drive revenue growth for the market in the forecast period. For instance, a leading player in the video management system market, Eagle Eye Networks, offers cloud-based video surveillance technology that is eligible for a 20% tax deduction under the new technology investment support of the Australian Taxation Office. These factors are driving growth of the market. Restraints: High cost of deployment and maintenance of video management systems is restraining growth of the market. Significant operational costs and maintenance costs are required to maintain hardware, software, and infrastructure, and the cost of maintaining and updating the system can be an additional operational cost. Data privacy and security concerns are also restraint of video surveillance systems. According to The Federal Bureau of Investigation (FBI), around 847,376 cyber-attack cases were reported with a loss of USD 18.7 billion in 2021. They generate and store large amounts of sensitive data, which must be protected from unauthorized access and breaches. Increase in the number of cyber-attacks such as malware attacks, phishing attacks, denial-of-service attacks (DDoS), and SQL injection attacks, system data might be compromised. These factors are restraining the growth of the market. Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1549 Growth Projections: The video management system market is expected to register a CAGR of 20.4% over the forecast period and revenue is projected to increase from USD 8.82 Billion in 2021 to USD 47.24 Billion in 2030. Rising deployment of video management systems for surveillance in various industries, such as retail, transportation, and government is driving market revenue growth. Current Trends and Innovations: Cloud-based solutions are being adopted significantly among consumers. Cloud-based solutions are more flexible, scalable, and cost-effective than traditional on-premises systems. These technologies can improve monitoring, surveillance, and detection capabilities of system, such as reducing the number of false alarms and enabling real-time monitoring of multiple cameras at once. Moreover, integration of biometric and facial recognition technology in video management systems is becoming more popular. This technology can be used to track and identify individuals and for access control purposes. Strategic Initiatives: Major companies included in the market report are Honeywell International Inc., Johnson Controls International PLC, Bosch Security Systems Ltd., Hitachi, Ltd, Siemens AG, Senstar Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., Milestone Systems A/S, Genetec Inc., Avigilon Corporation, Eagle Eye Networks, Inc, Dahua Technology USA Inc., Hanwha Techwin Co., Ltd., StorMagic Inc and among others.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/video-management-system-market Scope of Research
Emergen Research has segmented video management system market on the basis of technology, deployment model, organization size, industry vertical, and region.
Latest Research Reports Published by Emergen Research: Aircraft Transparencies Market, By Material (Acrylic, Glass, and Others), By Application (Windshield, Windows, and Others), By Aircraft Type (Helicopters, Military Aviation, and Others), By End-Use (OEM and Aftermarket), and By Region Forecast to 2032 Renewable Methanol Market, By Feedstock (Agricultural Waste, Forestry Residues, Municipal Solid Waste, and Others), By Application (Formaldehyde, Gasoline, Solvent, and Others), By End-User, and By Region Forecast to 2032 Allantoin Market, By Source (Natural and Synthetic), By Application (Moisturization, Healing medicine, and Others), By Vertical (Pharmaceutical, Cosmetics, Oral Hygiene, and Others), and By Region Forecast to 2032 Smartphone Connected Pacemaker Devices Market, By Product Type (Implantable Pacemaker and External Pacemaker), By Application (Arrhythmia, Heart Failure, and Others), By End-Use (Hospitals and Others), and By Region Forecast to 2032 Virtual Wards Market, By Technology (Remote Monitoring, Electronic Health Records, Others), By End-use (Home, Primary Care Clinics, Post-Acute Care Facilities), By Region Forecast to 2032 Speech Biomarkers Market, By Type (Frequency, Amplitude, Error Rate, and Pronunciation Time), By Application (Mental Disorder, Respiratory Failure, and Others), and By Region Forecast to 2032 Biodegradable Films Market By Type (Polylactic Acid (PLA), Starch Blends, Biodegradable Polyester, Polyhydroxyalkanoates (PHA), and Others), By Application, and By Region Forecast to 2032 Airborne Optronics Market, By Technology (Multispectral and Hyperspectral), By System (Reconnaissance Systems, Targeting Systems, and Others), By Application, By Aircraft Type, By End-Use, and By Region Forecast to 2032 Aerospace Bearings Market, By Bearing Type (Ball Bearing, Roller Bearing, and Others), By Material (Stainless Steel, Engineered Plastics, and Others), By Aircraft Type (Fixed Wing, Rotary Wing, and Others), By Application, and By Region Forecast to 2032 Public Safety and Security Market, By Solution (Critical Communication Network, C2/C4SIR System, Surveillance System, Others), By Service (Professional Services, Managed Services) By Vertical, By Region Forecast to 2032 About Emergen Research Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. Contact Us: Eric Lee Logo: https://mma.prnewswire.com/media/1579538/Emergen_Research_Logo.jpg
|
View original content: