Milestone Systems #1 Again for Global Market Share in Latest IHS Market Research Report
Customer demand increasing for IP video software and mobile access
COPENHAGEN – June 17, 2015
Milestone Systems, the open platform company in IP video management software (VMS), retains its ranking as the number one worldwide VMS vendor by company revenue in newly-published market research from business information provider IHS Inc. (NYSE: IHS).
“For more than a decade now, Milestone continues to hold this top global position in the security market thanks to all the dedicated, hard work from both our own employees and the thousands of great partners we support around the world,” said Lars Thinggaard, President & CEO, Milestone Systems.
A major finding in this 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 Inc.
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. “With the Milestone Mobile client we offer Video Push that enables a smartphone or tablet to act as a mobile security camera, essentially adding another set of virtual eyes where no other camera is in place. This is extremely popular in all segments of our customer base, both in the low-complexity and lower camera count installations as well as in the advanced, high camera count solutions.”