Genetec unseats Milestone as world’s biggest VMS vendor

Genetec now boasts the biggest share of the global video management system (VMS) market, a report by IHS Markit has revealed.

The Canada-headquartered company’s share of the VMS market grew 24.1% CAGR (compound annual growth rate) between 2015-2018.

It means Milestone Systems’ run of nine consecutive years as the dominant player comes to an end.

Genetec, which provides unified security, public safety, operations and business intelligence solutions, also retained top spot in the Americas for the eighth consecutive year with an 18.3% share of this $4.1bn market.

In EMEA, where it ranks number two behind Milestone, Genetec revenues grew by 20.5% in 2018 – making it the fastest-growing vendor in the region – while in APAC (excluding China), Genetec grew revenues by 22.5%.

Genetec has also taken the number one position in the $1.7bn market for back-end video surveillance equipment in the Americas.

“Our independence and single-mindedness have helped us earn the trust of enterprise and government users.” Pierre Racz, president, Genetec

As a privately owned, 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,” said Pierre Racz, president, Genetec – who recently topped the ‘Security tech design, development & integration’ category in our Security & fire influencers 2019.

“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 cybersecurity.

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

Genetec is the only security and public safety solutions developer to hold top-10 global rankings across all physical security industry sectors including video management software (VMS), access control software, and automatic license plate recognition (ALPR) software, according to IHS Markit.

Genetec is best known for Security Center, an open-architecture platform that unifies IP-based video surveillance, access control, automatic license plate recognition (ALPR), communications, and analytics. Genetec also develops cloud-based solutions and services to enhance security and provide operational intelligence for governments, enterprises and critical infrastructure.

Founded in 1997, and headquartered in Montreal, Canada, Genetec distributes its solutions through an extensive network of resellers, integrators, certified channel partners and consultants in more than 80 countries.

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