Milestone Retains Position as No. 1 Global VMS Vendor!
Thursday, 23 June 2016
Author: Toyah Hunting
Milestone Systems has retained the global position of number one VMS vendor by company revenue in market research from business intelligence provider IHS Inc. This is the ninth time Milestone achieves top ranking.
“Milestone has continued to grow at a steady rate. Our ongoing strength as the global number one VMS provider is testament to the deep, broad Milestone community of partners and customers. Our expertise is multiplied through our partner interactions, creating more innovation and value for the industry,” said Lars Thinggaard, President & CEO, Milestone Systems. “We are at the beginning of realizing the opportunities from our software’s endless capabilities to integrate and we are very excited about that.”
Milestone not only maintained the number one global position, but also the number one spot in Europe/Middle East/Africa (EMEA) and number three ranking in the Americas, with a move up from number four to number two in Asia/Pacific (APAC).
The IHS research and its Video Surveillance Intelligence Service* found that demand continues to grow and the world market for video surveillance equipment in 2016 will be worth USD 15.8bn. This is a growth rate of 6.4% over 2015. Price erosion in video surveillance hardware continues to impact the overall industry growth rates, but customer demand is still increasing in volume.
What is the market telling us?
“Demand for video surveillance equipment continues to grow quickly. Price competition can make it a tough market for hardware vendors, but the average price of video management software has not fallen as quickly as the price of cameras and recorders,” said Jon Cropley, principal analyst for video surveillance at IHS Technology. “It is hard for vendors and integrators to differentiate themselves: competing on features rather than price is the big challenge. A lot of the talk in the industry this year is about software and its importance in system offerings as a differentiator.”
Overall, the video surveillance market continues to grow in volume and revenue. More cameras are being installed than ever, but installer margins face pressure. Progress continues to be made in trends like mobile solutions, cloud technology, analytics and biometrics.
*Results based on IHS Global Inc. Video Surveillance Intelligence Database: June 10, 2016. Results are not an endorsement of Milestone Systems. Any reliance on these results is at the third party's own risk.
Visit http://www.technology.ihs.com/ for more details.