International. The video management systems (VMS) market in the world is estimated to grow from US$10.9 billion in 2022 to US31 billion in 2027, with a compound annual growth (CAGR) of 23.1% during the forecast period, according to Markets and Markets.
One of the reasons this growth is estimated is the increased demand for security solutions from sectors such as government and security agencies and the interest in implementing public analytics. The increase in demand for CCTV systems is also another manifestation, especially the implementation of IP cameras, and those with night vision and color night vision.
With the rapid development of technology, especially with the maturity of video management, more and more companies are selecting video management software to provide dedicated storage, seamless streaming, and enhanced security surveillance to their customers. Video management service providers are under pressure to generate profits as content development costs rise.
Companies ignore many stages of video content delivery, causing them to spend more than necessary on video capture. Video content duplication has been a popular method in content creation around the world. These problems also raise the overall cost structure. The threat of commodification of video content is always present for video management distributors.
Opportunity: Increased demand for live and recorded video
Video management software uses analytics data from cameras in a retail environment and displays it to help make decisions about where to place items in the store.
It can also be used with artificial intelligence (AI) facial recognition technology to identify known criminals. It can also be used in concerts with access control to help strengthen entry procedures or alert users of potential events. Large corporations and educational institutions use it extensively for a variety of purposes, including corporate training, executive communication, event broadcasting, and knowledge management.
Video content management solutions offer a low-cost infrastructure to address video buffering issues. VCM frequently distributes videos captured in segments. With cache proxies installed on WANs, this helps video footage sit well.
Challenge: Growing security risk of video content
There is a risk of cyber attacks and recording delays as the use of the video management solution grows. The security of video content has become increasingly important. Video management solution providers must develop and provide video management solutions for end users. Video management service providers are concerned about the security and privacy of video content shared on numerous platforms. To address these issues, companies should restructure their plans to use enterprise video settings before implementing them.
The services segment will have a higher growth
The VMS industry is divided into two categories based on services: professional and managed services. As most end users lack the technical competence needed to store and handle video data, professional service providers offer solutions to this problem. Managed services are those provided by third-party providers; They help manage a company's operational difficulties. The general services segment has a great influence on the VMS market. It helps reduce costs, increase overall revenue, and improve performance.