For the tenth year in a row, Milestone Systems has been ranked as the Number One global VMS vendor by company revenue. That’s according to market research conducted by business intelligence provider IHS Markit. In 2017, Milestone Systems enjoyed a global VMS market share of 10.2%, with 9.1% being the corresponding figure in 2016.
“The world market for VMS is estimated to have grown by 8% in 2017,” said 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.”
Lars Thinggaard, president and CEO at Milestone Systems, stated: “Milestone Systems experienced a solid VMS revenue growth of 21% over 2016, which was almost triple that of the market. There is no doubt that our open platform community and partnership business model is the reason for this positive development, and we’re proud to be a trusted and reliable partner in the community.”
Thinggaard concluded: “We will keep investing in our partner community, focusing on new technologies within cameras, access control and video analytics. We believe in a future where video will play an even more significant role in understanding data sources from the increasing numbers of devices that connect people and assets.”
Milestone Systems not only retained the Number One position globally, but also holds the top spot in Europe, the Middle East and Africa thanks to a market share that increased to 17.1% from 14.8% in 2016.
The company maintains its top position in the APAC region, with a market share of 12.4% compared to 11.7% the year before.
Finally, Milestone Systems jumped one spot in the Americas and is now ranked as second overall in the region (with an 11.3% market share compared to 9.6% in 2016).