Milestone Systems is the no. 1 VMS provider in the APAC region, shows report from IHS Markit Market Research

Milestone Systems, the open platform company in IP video management software (VMS), is once again the No. 1 global VMS vendor by company revenue in market research from business intelligence provider IHS Markit (NASDAQ: INFO). Milestone Systems receives this top ranking for the ninth year running. Moreover, Milestone Systems is ranked as no. 1. VMS provider in the APAC region (excluding China).

“In 2016, Milestone Systems’ business in APAC grew by 20 per cent compared to an overall market growth of 1.1 per cent. We owe our success to the continued focus on co-creation of revenue and innovation with the Milestone community of partners and customers, and we will continue and further explore this approach in the years to come,” said Benjamin Low, Vice President, Asia Pacific, Milestone Systems.

On a global scale, Milestone Systems continues its growth with an increase in net revenue of 18 % in 2016 over the year before and has significantly exceeded the overall market growth.

“Our market share estimates show that supply of VMS became more concentrated in 2016 with the four largest VMS vendors all gaining share. So far, the supply base for video surveillance equipment has been highly fragmented but I believe we will see more consolidation in the years to come,” said Jon Cropley, principal analyst for video surveillance at IHS Technology.

The total market value for video surveillance equipment in APAC, excluding China, was USD 2,28 billion in 2016.