Milestone Systems has maintained its position as the number one vendor for total VMS global market share in the latest report from IMS Research.
IMS Research, recently acquired by IHS Inc. (NYSE:IHS), has just published the ninth edition of its report: World Market for CCTV and Video Surveillance Equipment. The results are based on data from 2011. It contains comprehensive information on all suppliers providing analog and digital video surveillance components such as cameras, recording solutions, video encoders and more.
"Milestone Systems has retained the number one global position in the VMS software category in 2011. In addition to maintaining its position as the leading vendor of VMS, Milestone also grew faster than the total VMS market in 2011, recording 22% year-over-year revenue growth versus approximately 17% market growth last year," says Gary Wong, Senior Analyst at IMS Research.
The 2012 edition of this report from IMS Research forecasts that despite the weak and uncertain economic climate, the world market for video surveillance equipment will grow in excess of 12% in 2012. The sales of network surveillance cameras are forecast to increase from approximately 40% of global security camera sales revenue in 2011 to approximately 60% in 2016. This further illustrates the continuing progress of IP technology taking over the traditional CCTV approach to video monitoring.
"The on-going trend from analogue to network video surveillance remains unchanged, however IMS Research has moved forward its forecast for the tipping point (where network video surveillance equipment sales revenue overtake sales of analogue video surveillance equipment) by one year to 2013. This is due to acceleration in the demand for network video surveillance," states Gary Wong.
Milestone Systems has repeatedly achieved the top VMS provider ranking in market analyses over many years and is recognized in the industry for its success in leading the expansion of open platform video surveillance software. The open platform software-only business model allows installers and customers the widest choice in hardware and value-adding integrations with other systems for the most flexible solutions and highest return on investments over time.
Lars Thinggaard, President and CEO at Milestone Systems, says: "Through our ambitious strategy and execution, Milestone continues with great progress for our company and the industry as a whole. We consistently listen to market demands and explore new ways of using open platform video management software as the core of security installations. Milestone is well positioned to further reap market share, with additional offices opened around the world to service our ecosystem of partners and customers."