International. Genetec Inc has been recognized as the world's number one provider of video management systems (VMS), according to a report issued by business intelligence consultancy IHS Markit.
The results reported by IHS, comprising from 2015 to 2018, indicate that the company has maintained a CAGR (compound annual growth rate) of 24.1% for the past 3 years in this category.
According to the report, when it comes to the Americas, Genetec remains the top VMS manufacturer with a wide margin vs. other companies for eight consecutive years, with an 18.3% share in a market that has a total value of $4.1 billion. Likewise, the report indicates that Genetec has also taken the number one position in the market of back-end video surveillance equipment that has a total value of US $ 1.7 billion. In the rest of the world, it increased its VMS revenue at a rapid pace: in Europe, the Middle East and Africa, the company's revenue increased by 20.5% in 2018, while in the Asia Pacific region (excluding China), Genetec increased its revenue by 22.5%.
"As an independent, privately held manufacturer of IP-based physical security solutions, we reinvest a much larger proportion of our annual top-of-the-line revenue in R&D than the industry average," said Pierre Racz, President of Genetec Inc. "Our independence and determination have helped us earn the trust of our customers at both the enterprise and government levels. We want to delight our customers. Circumstances have prompted us to speak openly about issues such as privacy and cybersecurity."
"These factors, along with good fortune, strong relationships with our partners, as well as having a great team, are some of the factors that explain why our solutions are attractive," explains Racz. "We will continue to reduce the friction with which our customers integrate new sensors and other systems for their operations' decision-making."
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 developer of security and public safety solutions to hold the top 10 global rankings across all sectors of the physical security industry, including video management software (VMS), access control software and automatic license plate recognition (ALPR) software
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