The report says that the global VMS market for CCTV and video surveillance was worth more than $650 million last year and is expected to climb to more than $1.6 billion by 2017. The fastest growing markets for VMS are in Asia, thanks in large part to Chinese demand.
“While ranking of the Top 4 suppliers remained unchanged, last year marked the first time that the No. 1 spot was held concurrently by two entities,” says Jon Cropley, principal analyst for video surveillance at IHS and author of the report “The World Market for CCTV and Video Surveillance Equipment – 2013 edition,” in a company statement.
The report points out that, while the two companies are essentially tied for first, Milestone is strongest in the EMEA region (Europe, Middle East and Africa), whereas Genetec performed the best in the Americas. Cropley also points out that the VMS market still remains quite fragmented — no single vendor owns more than 10 per cent of the overall market.