Market research firm IHS this week said that Milestone Systems and Genetec remained as the two largest suppliers of video management software in 2013.
According to estimates published by IHS’ Video Surveillance Intelligence Service, the global VMS market was worth more than $900 million in 2013, but is expected to grow to over $3 billion in 2018 in all four major world regions (Americas, China, ASIA, and EMEA). The Chinese market is expected to see the fastest growth.
“Milestone Systems and Genetec have been the largest suppliers of VMS for the past five years. However, there has been big changes in the rankings of other top 10 suppliers,” said Jon Cropley, principal analyst for video surveillance at IHS. “Hikvision and Avigilon are just two companies that gained share”.
IHS added that the overall VMS market remains fragmented with no single supplier possessing greater than 10 percent market share. Milestone had the largest share of the global market in 2013 (a spot it shared with Genetec the year before), according to IHS. Milestone also retained the largest market share in EMEA, while Genetec retained the largest market share in the Americas.
IHS said that the VMS space will remain highly competitive over the next five years and that it expects “many big changes” among the top ten in market share ranking.