Home News Genetec takes top global VMS vendor slot according to latest IHS Market Report

Genetec takes top global VMS vendor slot according to latest IHS Market Report

by Brian Sims

A recent Market Report published by business intelligence provider IHS Markit names Genetec (the technology provider of unified security, public safety, operations and business intelligence solutions) the world’s Number One vendor of video management systems (VMS). The IHS-reported results from 2015-2018 also point to the company sustaining a 24.1% CAGR for the past three years in this category.

In the Americas, Genetec remains the leading VMS manufacturer by a wide margin for the eighth consecutive year, with an 18.3% share of this $4.1 billion market. The business has also taken the Number One position in the $1.7 billion market for back-end video surveillance equipment in the Americas.

In the rest of the world, Genetec grew its VMS revenue at a fast rate. In EMEA, revenues grew by 20.5% in 2018, while in the APAC (excluding China), the company grew its revenues by 22.5%.

“As a privately owned and independent manufacturer of IP-based physical security solutions, we reinvest a much higher proportion of our annual top line revenue into R&D than most,” stated Pierre Racz, president of Genetec. “Our independence and single-mindedness have helped us earn the trust of enterprise and Government users. We want to delight the customer. Circumstances have propelled us to be outspoken about privacy and cyber security.”

Racz added: “These factors, along with good fortune, strong partnerships and a great team, are some of the factors that explain the appeal of our solutions. We will continue to lower the friction with which our customers integrate new sensors and other systems into the decision-making of their operations.”

According to IHS Markit, Genetec is the only security and public safety solutions developer to hold Top 10 global rankings across all physical security industry sectors including VMS, access control software and ANPR software.

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