International. Within the video surveillance software market, the Genetec, Motorola Solutions and Milestone Systems brands continued to increase their combined global share in 2021, analyst Novaira Insights revealed.
This global market was worth US$2.4 billion in 2021 with around 68% excluding China. The "Big 3" increased their combined share of the video surveillance software and managed services market to more than 35% globally, not including China.
The supply base of video surveillance software outside China is still very different from that of the Chinese domestic market. China continues to be served mainly by large domestic suppliers. In contrast, the world except China is served not only by the big 3, but also by a multitude of other suppliers, each with a market share of less than 3%.
Novaira Insights' latest report, "The Global Video Surveillance Hardware and Software Market," shows that outside of China, the video surveillance software and managed services market grew rapidly by 10.1% in 2021, due to movement restrictions due to the COVID-19 pandemic. 19 The pandemic decreased and the cumulative demand for video surveillance equipment was met.
According to Jon Cropley, Principal Analyst at Novaira Insights: "An important factor for the Big 3 to continue to increase their market share in the future will be their cloud strategies. We forecast that the cloud video management software market will grow much faster than the on-site video management software licensing market. So far, each of the big 3 has taken a different approach to cloud, so it will be interesting to see how these approaches evolve in the future."
