COPENHAGEN — Milestone Systems has once again been named the top global VMS vendor based on company revenue, according to the latest market research by business intelligence provider IHS Markit (NASDAQ: INFO).
In 2017 Milestone Systems had a global VMS market share of 10.2%, an increase from 9.1% in 2016, helping the company secure the No. 1 position for 10 consecutive years.
“The world market for VMS is estimated to have grown by 8% in 2017,” states Jon Cropley, senior principal analyst for video surveillance at IHS Markit. “Supply to this market is gradually becoming more concentrated. The top largest vendors are estimated to have accounted for 48% of global revenues in 2015. In comparison, this figure was 57% in 2017.”
The company posted VMS revenue growth of 21% over 2016, which was almost triple that of the market, says Lars Thinggaard, president and CEO, Milestone Systems.
“Our open platform community and partnership business model is no doubt the reason for the positive development, and we are proud to be a trusted and reliable partner in the community,” he says.
Thinggaard continues, “We will keep investing in our partner community with a focus on new technologies within cameras, access control and video analytics. We believe in a future where video will play an even more significant role to understand the data sources from the increasing numbers of devices that connect people and assets.”
Milestone Systems not only retained the No. 1 position globally, but it also holds the top spot in Europe, the Middle East and Africa (EMEA) with an increase in market share to 17.1% from 14.8% in 2016.
The company also maintains its leading position in the Asia-Pacific (APAC) region with a market share of 12.4%, compared to 11.7% the year before. As well, the company jumped one spot in the Americas to rank as the No. 2 VMS provider in the region with an 11.3% market share, compared to 9.6% in 2016.
The results are based on IHS Markit’s 2018 Video Surveillance Intelligence Service report and do not represent an endorsement of Milestone Systems, according to an announcement.
