Genetec takes top global VMS vendor position, IHS reports

Company also retains No. 1 position in Americas for the 8th consecutive year
 - 
Wednesday, June 19, 2019

MONTRÉAL—Genetec Inc., a technology provider of unified security, public safety, operations and business intelligence solutions, was named the world’s No. 1 vendor of Video Management Systems (VMS), according to a recent report published by global research firm IHS Markit. IHS-reported results from 2015-2018 also point to the company sustaining a 24.1 percent CAGR (compound annual growth rate) for the past 3 years in this category.

In the Americas, Genetec remains the leading VMS manufacturer by a wide margin for the eight consecutive years, with an 18.3 percent share of this $4.1 billion market.  Genetec 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, Genetec revenues grew by 20.5 percent in 2018, while in APAC (excluding China), Genetec grew its revenues by 22.5 percent.

“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,” Pierre Racz, president, Genetec Inc., said in the announcement. “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. These factors, along with good-fortune, strong partnerships and a great team, are some of the factors that explain the appeal of our solutions,” explains 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.”

According to IHS Markit (2017 Video Surveillance Market Share Database, 2017 Access Control Intelligence Database, and 2018 ANPR & Detection Sensors Report) 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.

Genetec’s broad solutions portfolio encompasses security, intelligence and operations. The company’s flagship product, Security Center, is 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 designed to improve security, and contribute new levels of operational intelligence for governments, enterprises, transport, and the communities in which we live. Founded in 1997, and headquartered in Montreal, Canada, Genetec serves its global customers via an extensive network of resellers, integrators, certified channel partners, and consultants in over 80 countries.