COPENHAGEN, Denmark, 5 September 2005
Survey results of the EMEA and World markets for video surveillance products from the renowned firm IMS Research recognize Milestone Systems as the market leading manufacturer of open platform IP video surveillance software. In the report revealed this month, IMS Research predicts continued strong development for IP-based network video.
IMS Research, known for its high quality market research, estimated that the World market for open IP surveillance software was worth $34.4 million in 2004, and forecasts it will grow at a CAGR of 47.7% to reach $241.7 million by 2009. High growth is also forecast for the EMEA market with a CAGR of 43.1%.
These numbers are strong indications of the continued growth in IP-based solutions. Just a few years ago, digital solutions in total only represented about 2 percent of the total market. In these newest reports, IMS Research states that by 2009, "analogue recording systems are forecast to account for less than 5% of the market."
The report from IMS Research looks at the movement in the industry from analogue to digital and concludes: "More advanced users are likely to opt for the software-based recorders which offer a greater degree of flexibility, as well as easier integration with other security systems, such as access control."
The full report, titled "The EMEA market for CCTV and Video Surveillance Equipment" reveals Milestone Systems to be the top provider of open platform IP video surveillance software, with a 38.6% share of the EMEA market. In a parallel report, IMS Research also found Milestone Systems to have the number 1 ranking with a 16% share of the World Market for Open Platform IP Video Surveillance Software.
"We are pleased to maintain our position as the market leading independent software developer. Our strategy has proven successful: forming key industry partnerships, and cultivating our VAR and Systems Integrator channels," says Lars Thinggaard, CEO at Milestone Systems. "Milestone’s open systems and Software Development Kit enable our partners to integrate the video surveillance installations with access control, cash registers or similar. This capability will prove to be the key requirement in future – acting as the core surveillance management tool and federating all the elements in an IP security installation."
The reports from IMS Research are based on interviews with more than 100 companies in the security industry, as well as data and statistics derived from relevant news sources, annual reports, and the Internet. The Open IP Surveillance Software category was included for the first time with these surveys.