Milestone Systems and Genetec remained the two largest suppliers of video management software in 2013 in a market worth more $900 million, according to new estimates from IHS Inc. through its Video Surveillance Intelligence Service. The global VMS market is forecast to grow to over $3 billion in 2018 with all four major world regions analyzed (EMEA, Americas, China, and Asia) exhibiting strong double-digit expansion. The Chinese market is forecast to grow fastest.

“Milestone Systems and Genetec have been the largest suppliers of VMS for the past five years. However, there have been big changes in the rankings of other top 10 suppliers,” Jon Cropley, principal analyst for video surveillance at HIS. “Hikvision and Avigilon are just two companies that gained share.”

Despite this, the overall VMS market remains fragmented with no single supplier possessing share greater than 10 percent. Milestone Systems had the largest share of the global market in 2013 (it shared the top spot with Genetec the year before).

Milestone also retained the largest market share in EMEA while Genetec retained the largest market share in the Americas.

The VMS space will remain highly competitive within the next five years and many big changes in the top 10 market share ranking can be expected.