The global video management software market size is expected to reach USD 55.0 billion by 2030, according to a new study by Polaris Market Research. The report “Video Management Software Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By Deployment Mode; By Technology; By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A trend suggests that as the security & surveillance industry changes, there will be an increasing reliance on technological improvements. Consequently, the demand for video management software is rising. For instance, in July 2021, Bosch announced unveiling of its new FLEXIDOME panoramic 51001 camera line, comprising interior and exterior IR varieties of stereographic fish-eye lenses & 6 or 12 MP resolution. A multitude of microphones is also included within the lenses.
Furtherly, security firms continue to use care when revealing the extent of their monitoring operations for public inspection. There is little doubt that providing law enforcement more surveillance power helps to prevent some crimes, but there is also a possibility for abuse or risk to people's rights. There have been numerous notable terrorist attacks, which have spurred discussion concerning the use of various monitoring technologies. Therefore, the market is expanding due to the application of cutting-edge technology for proactive security and monitoring.
Some significant market drivers include growing urbanization, industrialization, and increasing awareness among enterprises to adhere to the rules and standards linked to payment services. Additionally, it is projected that rising per capita income and expanding government backing for the development of technology and solutions will accelerate economic growth.
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Additionally, machine learning & artificial intelligence will ultimately benefit the market. Such cutting-edge technologies provide a higher level of security and protect the user's sensitive information. Advanced analytics and video analytics provide security and safety from preventative dangers, and as a result, this will boost the reputation of transaction monitoring technology internationally.
Video Management Software Market Report Highlights
Polaris Market Research has segmented the video management software market report based on component, deployment mode, technology, application, and region:
Video Management Software, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Video Management Software, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Video Management Software, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
Video Management Software, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Video Management Software, Regional Outlook (Revenue - USD Billion, 2018 - 2030)