COPENHAGEN, January 2007 â€“ Milestone Systems is once more recognized as the global market leader for IP video surveillance software. The renowned firm IMS Research reveals in a new report that the total world market for IP-based video surveillance was worth $560 million in 2005 and consistently high, double-digit annual growth is forecast for the next five years.
The report, titled The World Market for CCTV & Video Surveillance Equipment 2006 Edition, was published on 23 January 2007 and reveals Milestone Systems to be the top provider of open platform IP video surveillance software, with a market share that ranks Milestone as number 1 worldwide.
"The IMS report indicates that the entire market now is shifting towards digital solutions. With IP technology already accounting for 11-12% of the market, and the trend from analogue to IP video surveillance in full swing, it means that there is huge market potential for us. Milestone solutions were a first on the market back in 1998, and are known to be setting the global standard for open platform IP video surveillance," says Lars Thinggaard, CEO at Milestone Systems. "Our technology is proven to be robust and reliable in more than 24,000 customer installations around the world."
The report from IMS Research looks at the steamrolling movement in the industry from analogue to digital and concludes: "More advanced users are likely to opt for the software-based recorders which offer a greater degree of flexibility, as well as easier integration with other security systems, such as access control." The XProtectâ„¢ IP video surveillance management software from Milestone Systems is designed with open architecture that allows just such integrations with other systems and devices.
Explosive market growth for network surveillance systems
In 2006, the world market for IP video surveillance software experienced an astounding growth of 45% compared to 2005, and the report forecasts that it will to continue to grow at an average annual 37.6% through 2009. By 2010 the market for network cameras and IP video surveillance is estimated to reach $2.6 billion, of which approximately $480 million will be for software alone.
Simon Harris, Research Director at IMS Research, commented: "The market has the potential to grow even faster than this. Even at this impressive growth rate, network cameras will still account for only one-third of the security cameras shipped in 2010. The main challenge for suppliers is to educate the market about the many benefits of network video surveillance over traditional analogue."
Milestone Systems over the years has established a strong partner channel in 62 countries. The Partner Program includes certification training in its top offerings, with hundreds of professionals having participated in recent years. This certification ensures both greater expertise in the implementation process and higher levels of customer satisfaction and support.
The Asian market drives growth
The report concludes that the demand for video surveillance will begin to slow down from its sharp increases to a more gradual growth in the more established markets, such as Japan, the US and the UK. However, this will be partly compensated for by higher growth rates in less established markets, such as China. In general, the market is predicted to maintain overall high growth rates, even beyond 2010.
"The report not only confirms that the growth on a global scale is exploding right now, but also that Asia is the future growth market - a market that Milestone has chosen to strengthen through a new subsidiary in Singapore," says Lars Thinggaard, CEO at Milestone Systems.
The reports from IMS Research are based on interviews with more than 100 international companies in the security industry, as well as data and statistics derived from relevant news sources, annual reports, and the Internet. For the last two years, the 'Open IP Surveillance Software' category has been analyzed in a separate report from IMS Research, and Milestone Systems has been recognized as the global market leader in this category both of these years.