A major finding in the report is that product demand will continue to grow quickly, and the world market for video surveillance equipment will be worth USD 15.7 billion in 2015. Price erosion is impacting the growth rates, but customer demand is increasing significantly.
“We are not seeing the same level of price erosion for VMS as in the camera market segment,” says Jon Cropley, Principal Analyst for Video Surveillance at IHS.
This underscores the fact that security management software functions as the core of a surveillance system, like the ‘brain’ of the solution – especially if it is open platform architecture that interconnects and manages components from many different providers. Milestone’s VMS is future-ready for expanding with innovations in security and other business applications.
Mobile applications are ramping up in usage rapidly with valuable benefits for first responders and roving security, managers or other personnel. Smartphones and mobile technology have been the defining technologies for the beginning of the 21st century. These days about half of the adult population worldwide owns a smartphone, and by 2020 the number is expected to increase to 80 percent.
“The widespread adoption of smartphones means that most of us are carrying super computers in our pockets, and VMS user preferences are fast following suit rapidly,” says Kenneth H. Petersen, Chief Sales & Marketing Officer, Milestone Systems.