Global VMS market forecast to reach $2.7 billion in 2019: IHS

The global video management software (VMS) market is forecast to grow to over US$2.7 billion in 2019, with all four major world regions (EMEA, Americas, China, and Asia) exhibiting strong double-digit expansion, according to a research note from IHS.

Milestone Systems and Genetec remained the two largest vendors of video management software (VMS) in 2014 in a market worth almost $1.1 billion, the study found. These two companies have been the largest vendors of VMS for the past six years, but there have been big changes in the rankings of other top ten vendors during this time.

Netposa, Hikvision, Avigilon, and Huawei are all companies that have gained share. The Chinese market is forecast to grow fastest, the report said.

The previous year has seen some big changes in the supply base for VMS. Canon acquired Milestone Systems, Panasonic acquired Video Insight, ONSSI acquired SeeTec, and, most recently, NICE Systems decided to sell off its physical security business unit.

Despite this, supply of VMS remains fragmented, IHS found. According to estimates from the firm's video surveillance intelligence service, no single vendor possessed a share greater than eight percent in 2014, and this is unlikely to change greatly in 2015.