Genetec takes #1 global VMS vendor position: IHS Report
June 18, 2019 By SP&T Staff
MONTREAL — According to a recent report by research firm IHS Markit, Genetec Inc. was named the world’s number one vendor of video management system.
IHS-reported results from 2015-2018 also point to the company sustaining a 24.1% CAGR (compound annual growth rate) for the past 3 years in this category.
Genetec says that in the Americas it remains the leading VMS manufacturer by a wide margin for the eighth consecutive year, with an 18.3% share of this $4.1 billion market. Genetec has also taken the number one position in the $1.7 billion market for back-end video surveillance equipment in the Americas. In the rest of the world, Genetec grew its VMS revenue at a fast rate: In Europe, the Middle East and Africa, Genetec revenues grew by 20.5% in 2018, while in Asia-Pacific (excluding China), Genetec grew its revenues by 22.5%.
“As a privately owned, independent manufacturer of IP-based physical security solutions, we reinvest a much higher proportion of our annual top-line revenue into R&D than most,” said Pierre Racz, president, Genetec, in a prepared statement. “Our independence and single-mindedness have helped us earn the trust of enterprise and government users. We want to delight the customer. Circumstances have propelled us to be outspoken about privacy and cyber-security. These factors, along with good-fortune, strong partnerships and a great team, are some of the factors that explain the appeal of our solutions. We will continue to lower the friction with which our customers integrate new sensors and other systems into the decision-making of their operations.”
According to IHS Markit, Genetec is the only security and public safety solutions developer to hold top-10 global rankings across all physical security industry sectors including video management software, access control software and automatic license plate recognition software.
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