Latin America. Milestone Systems, the open platform company in IP video management software (VMS), is once again the number one VMS provider in the world in terms of revenue, according to market research conducted by enterprise information provider IHS Markit (NASDAQ: INFO). Milestone Systems receives this first place for the ninth consecutive year.
"Our market share calculations show that VMS supply was more concentrated in 2016, when the largest VMS providers gained market share. So far, the supply base for video surveillance equipment has been very fragmented, but I think there will be more consolidation in the coming years," said Jon Cropley, principal analyst for video surveillance at IHS Technology.
"Milestone continues to grow, with an 18% increase in net revenue in 2016, compared to the previous year, and has significantly outpaced overall market growth. Our continued focus on joint revenue generation and innovation, hand in hand with Milestone's community of partners and customers, is a significant part of our success. In the coming years we will continue to implement and deepen this strategy," said Lars Thinggaard, President and CEO of Milestone Systems.
Milestone Systems not only held the number one position in the world, but also ranks first in Europe/Middle East/Africa (EMEA) and Asia/Pacific (APAC), as well as third place in the Americas.
