International. Milestone Systems' 21% growth in VMS revenue, over 2016 and compared to 8% for the overall market, led the company to rank first as a global video management software provider, according to IHS Markit's 2018 market research report.
For the tenth consecutive year, Milestone Systems is the world's No. 1 VMS vendor, in terms of revenue per company, according to market research conducted by enterprise information provider IHS Markit (NASDAQ: INFO). In 2017, Milestone Systems had a 10.2% share of the global VMS market, an increase of 9.1% over 2016.
"The global VMS market is estimated to have grown 8% in 2017," said Jon Cropley, principal analyst for video surveillance at IHS Markit. "Little by little, the supply of this market is becoming more concentrated. It is estimated that major suppliers accounted for 48% of global revenue in 2015. In contrast, this figure was 57% in 2017."
"Milestone Systems had a solid 21% increase in VMS revenue during 2016, which is nearly triple the market growth. Our open platform community as well as the partner business model are undoubtedly the reasons behind the positive growth we have had. We are proud to be considered a loyal and trusted partner within the community," said Lars Thinggaard, President and CEO of Milestone Systems, and continues:
"We will continue to invest in our partner community, focusing on new technologies for cameras, access control solutions and video analytics. Considering the increasing number of devices that connect both people and assets, we believe that in the future video will play an even more important role than it does today in understanding information sources."
Milestone Systems not only retained the number one position worldwide, but also ranked first in Europe, the Middle East, and Africa, with an increase in market share of 17.1%, compared to 14.8% in 2016. Milestone Systems also maintains its number one position in Asia Pacific with a market share of 12.4%, compared to 11.7% a year earlier. Finally, Milestone Systems advanced one place in the Americas and now occupies the number two position in the region, with a market share of 11.3%, in contrast to the 9.6% obtained in 2016.
