International. Genetec recorded growth three times higher than the market as reported by the international analyst of video surveillance and analytics, Omdia, based on data from 2018 and 2019.
"At Genetec we are motivated by this news but we are reminded that the true measure of success lies not in the market share figures, but in the fact that our partners and customers feel that we have met the service levels and results they expect," says Pierre Racz, President of Genetec Inc. "Our independence and determination have helped us earn the trust of the market and our investment. in research and development it has helped us to offer products at the forefront of customer needs."
Business, government, educational, and public safety organizations alike seek greater privacy and cybersecurity functionality, as well as additional operational value and return on investment from their physical security systems. Its need for a secure surveillance solution, as part of a truly unified physical security platform, has resulted in Genetec outpacing market growth across the globe.
"Genetec's share of the global video surveillance software market continues to grow year after year," said Jon Cropley, principal video surveillance analyst at Omdia. "The company reported high growth in all regions including EMEA, where despite a market that contracted by more than 3%, Genetec's revenue increased by 19%."
Additionally, according to the report, Genetec is now the number one Western provider of video surveillance back-end equipment, which combines recorders, encoders and software, demonstrating a growing demand for trusted devices from a recognized leader in privacy and cybersecurity.
Comparison of statistics from Omdia's annual report (2018-2019):
- Genetec increased its leadership as video surveillance software, as the number one in the world, with a market share of 11.9% (10.6% in 2018).
- Genetec's global market share growth increased 18.7% year-on-year, from 10.6% in 2018 to 11.9% in 2019.
Genetec had the fastest growth within the ten largest manufacturers in EMEA at 19% in 2019.
Genetec recorded the highest video surveillance software growth in Asia with 37% compared to the 11.1% growth of the overall market.
