March Networks, a leading provider of intelligent IP video and business analysis applications, is pleased to announce its ranking as the second largest supplier of video surveillance equipment to the North American retail market in a new report from IMS Research.
The report, Security in Retail: A Survey of Retailers in North America, estimates that March Networks is one of three video surveillance equipment providers with a 6 percent share each of the $437 million market, expected to grow to $586.4 million by 2011.
More than 100 retail organizations use March Networks' intelligent exception reporting and IP video solutions to prevent losses, mitigate risk, enhance security and improve overall store performance. These advanced technologies are critical tools for retail organizations in their efforts to reduce internal theft, organized crime and other sources of inventory shrinkage, which costs U.S. retailers an estimated $42 billion annually.
In February, March Networks customers from top U.S. and Canadian retail organizations will attend the company's third annual Retail Summit in Scottsdale, AZ. The company hosts the roundtable each year to bring together senior loss prevention, operations and IT decision-makers for focused discussion on loss prevention strategies and future technology requirements.
"Our efforts to engage with our customers and respond to their needs has helped us develop leading retail solutions that have proven both reliable and highly effective in some of the largest retail deployments in North America," said Peter Strom, President and CEO of March Networks. "We are extremely pleased to be recognized for our success in this high-growth sector and anticipate increasing our retail vertical market share in 2008, both in North America and in other target markets."
