HOME Research Insight New Product Launches is a Part of Milestone’s Strategies to Remain as one of the Global players in the Video Management Software (VMS) Market

New Product Launches is a Part of Milestone’s Strategies to Remain as one of the Global players in the Video Management Software (VMS) Market

Video Management Software (VMS) is an application for managing and recording video data. VMS application is a significant part of the video surveillance system. In embodiment, VMS receives the video data from cameras, processes that video data, and stores it on the server. The VMS application supports a range of video surveillance equipment from various vendors, such as cameras, encoders, and decoders. MarketsandMarkets expects the VMS market to grow from USD 3.71 Billion in 2016 to USD 10.54 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.2%. Ease of deployment and increased use of Internet Protocol (IP) videos, third-party integration with other digital business systems, increasing security concerns across the globe, and increasing penetration of video surveillance in a wide range of applications are some of the driving forces for the VMS market.

The major vendors in the VMS market are AxxonSoft (Germany), Milestone Systems (Denmark), On-Net Surveillance Systems Inc. (U.S.), Aimetis Corporation (Canada), Exacq Technologies (U.S.), 3VR (U.S.), Verint Systems (U.S.), Genetec (U.S.), Salient Systems (U.S.), and March Networks (Canada). These players have adopted various strategies, such as partnerships, agreements, mergers & acquisitions, and new product developments, to achieve growth in the global VMS market.

Milestone Systems is one of the key players in the VMS market. The company has adopted key strategies to enhance its presence in this market space. Partnerships and new product launches is a part of Milestone’s strategies to remain as one of the global players in the VMS market. In June 2016, the company partnered with Nedap, a manufacturer of intelligent technological solutions. With this partnership, Milestone XProtect VMS integrated with Nedap’s AEOS Access Control, helping customers quickly respond in emergency situations. In September 2016, the company launched XProtect 2016 R3 VMS with new advanced features, such as support for video compression, low bandwidth, situational navigation, cybersecurity enhancement, and low cost of ownership.

On-Net Surveillance Systems Inc., is another major video surveillance solution provider in the VMS market. The company’s main business segment comprises a broad range of video surveillance solutions. It focuses more on inorganic growth to tap into the VMS market. In April 2015, the company acquired SeeTech GmbH, one of the leading vendors of VMS in Europe. With this acquisition, On-Net Surveillance Systems Inc. expanded its footprint in the European region.

Related Reports:

Video Management Software (VMS) Market by Type of Solution (Video Intelligence, Case Management, Advanced Video Management, and Mobile Application), Technology, Service, Deployment, Vertical, and Region - Global Forecast to 2021

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