Posted On: 2019-03-03
Video management software market has witnessed widespread deployment across Turkey due to one of its key features of remote and continuous monitoring of feeds collected from multiple surveillance cameras. However, the video management software market has witnessed a decline in demand during the past few years owing to the decrease in installation of IP surveillance cameras in the country.
According to 6Wresearch, Turkey Video Management Software (VMS) Market Revenues are projected to grow at a CAGR of 4.9% during 2019-25. Growing demand for increased security attributed to rising terrorist activities and surging crime rate as well as growing penetration of internet applications to provide 24 hours services would further proliferate the demand for video management software in the country. Additionally, the market would further thrive with the implementation of Smart Cities Mission of government of Turkey, especially in Istanbul.
According to Ravi Bhandari, Research Manager, Research and Consulting, 6Wresearch, "Amongst the solution types, custom application management solution has witnessed higher adoption rate in the Turkey market for city surveillance, building surveillance and traffic management. Video management software is installed along with the analytics software to provide Automatic License Plate Recognition (ALPR), Red Light Violation Detection, Overspeed Detection & Enforcement, and Integrated e-Challan Management services.
Additionally, mobile application solution and advanced video management solutions are also expected to register higher growth during the forecast period on the back of growing installation of IP video surveillance systems in the residential and SME vertical market," Ravi Concluded.
According to Shefali Goel, Assistant Manager, Research and Consulting, 6Wresearch, "Professional services segment has registered higher revenue share in the overall Turkey video management software market on the back of surge in demand for on-premise deployment of management software in the country."
"Amongst all the regions, the Marmara region witnessed the highest number of installations of Video Management camera on account of city surveillance projects. Istanbul is the key city which has registered maximum installation of surveillance cameras in the Marmara region due to rise in tourism in the region resulting in high deployment of video management software in the region," Shefali concluded.
Some of the key players in Turkey video management software market include- Axis Communications, AllGoVision, Bosch Security and Safety System Middle East, CP Plus FZE, Zhejiang Dahua Technology Co. Ltd, Hanwha Techwin Europe, Hangzhou Hikvision Digital Technology Co., Ltd., LG Innotek, Panasonic Electronic Sales Inc., Pelco by Schneider Electric and Milestone Systems A/S.
"Turkey Video Management Software Market (2019-2025)" provides in-depth analysis with 48 figures and 5 tables covered in more than 110 pages. The report estimates and forecast the overall Video management software market by revenues, number of cameras, solution types, deployment types, service types, verticals, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.