ÌÇÐÄvlog´«Ã½

North America Video Management System Market Analysis

The North America Video Management System Market size is estimated at USD 4.51 billion in 2024, and is expected to reach USD 9.37 billion by 2029, growing at a CAGR of 15.73% during the forecast period (2024-2029).

• The number of terrorist activity and rising crime rates have increased in the region in the past few years. This heightened concerns about the safety of people, assets, and processes, resulting in severe damage to infrastructure and the loss of multiple lives, leading to increasing demand for video surveillance cameras with the latest technologies.
• Due to the rising number of cyber threats, cybersecurity has become a crucial focus in the North American VMS market. VMS suppliers are dedicating significant resources to implementing strong security measures to protect video data from unauthorized intrusion, hacking, and breaches. Encryption, multi-factor authentication, and frequent security patches are key elements of VMS offerings, guaranteeing the security and privacy of valuable video content.
• The government in the region is also taking the initiative and making investments to deploy security cameras in the region, further creating demand for the video management system market. For instance, in March 2024, Gov. Gavin Newsom revealed that the California Highway Patrol had agreed with a private firm to deploy 480 advanced cameras across Oakland to assist in combating crime in the city. As per the announcement, 290 of the cameras are expected to be positioned on Oakland's streets, while 190 will be placed along the freeways that traverse the city and its environs. The cameras recognize vehicle license plates and categorize vehicles based on their make, model, color, and distinctive characteristics.
• Similarly, in April 2024, The Alsobrooks Administration initiated the Private Security Camera Incentive Program, designed to improve community safety by boosting the presence of security cameras in key areas throughout the County, such as Langley Park, Glassmanor, and Walker Mill. Acknowledging the positive impact of private security camera rebate programs in combatting crime issues, the County is proactively working toward enhancing the protection of its inhabitants. This program provides rebates for setting up security camera systems on properties under the ownership or lease of residents, non-profit organizations, and businesses.
• The high initial investment is a significant hindrance to market growth. Several SMEs and businesses find it challenging to bear the initial cost of investment in IT infrastructure and often deploy low-cost and cheap physical security solutions, such as low detection ranges and camera resolutions, compromising security protection against thefts and criminal activities.
• The video management system market in North America is fragmented, with a large number of players occupying a small market share. Vendors operating in the market focus on new product development, strategic partnership, acquisition, and expansion to meet the growing customer demand, further supporting the market growth.
• For instance, in November 2023, SIOS Technology Corp. unveiled a certified integrated solution in collaboration with Milestone Systems. This latest integration of the Milestone XProtect platform with SIOS LifeKeeper for Windows ensures uninterrupted access to the surveillance system's control and configuration functions, thereby minimizing downtime and improving overall operational productivity.
• Furthermore, the market is expected to witness high growth as several organizations understand the importance of upgrading their security systems, including video surveillance cameras, with IP-based video management systems to protect their employees, property, and assets.
• Income levels, demographic shifts, and cultural nuances significantly influence the demand for video management systems. The International Monetary Fund (IMF) reported that the United States' GDP rose from USD 33.58 trillion in 2022 to USD 34.95 trillion in 2023. Given the United States's strong economic standing, it's poised to bolster the growth of the video management system market.

North America Video Management System Market Trends

Cloud Based Video Management System is Expected to Grow at a Significant Rate

North America Video Management System Industry Segmentation

A video management system (VMS) combines hardware and software to help users automatically monitor events from any number of surveillance cameras, alarms, or sensors. The video management system provides an at-a-glance view, alerting security to potential risks, threats, occurrences, or scheduled tasks. Video management systems are typically used by governments, businesses, and other organizations to require large-scale surveillance and security monitoring.

The North American video management system market is segmented by component (system and services), technology (analog-based and IP-based), mode of deployment (On-premise and Cloud), end-user industry (banking and financial services, education, retail, transportation, logistics, healthcare, and airports), and country (United States and Canada). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.