Genetec Named Leading Vendor Of VMS By IHS

Genetec was named the leading vendor in the 2313 IHS "World Market for CCTV and Video Surveillance" report

Genetec, a pioneer in the physical security industry, and a leading provider of world-class unified IP security solutions, was named as the world's leading vendor of Video Management Software (VMS)* by IHS, the leading provider of market research and consultancy to the global electronics industry. In the 2013 edition of the IHS 'World Market for CCTV and Video Surveillance' report, Genetec also maintained its leading position in the Americas region—the world’s largest VMS market—as well as demonstrated strong double digit growth in the Latin America and Asia Pacific regions.

Genetec’s success is further validated by its 30 percent growth in 2012 of its combined product categories, including VMS, Access Control, and License Plate Recognition (LPR). This can be attributed to the Company's successful expansion into Asia Pacific and Latin America as well as a steadfast focus on product development.   

"Innovation is in our DNA,” said Pierre Racz, President & CEO of Genetec. “We believe that the key to success is to invent new technologies that will help our customers today and tomorrow. By investing over 20 percent of our revenue in R&D, we foster a strong culture of innovation. From pioneering IP video, to developing the industry's first unified security platform that combines video, access control, and license plate recognition, to bringing physical security to the Cloud, we are consistently delivering groundbreaking solutions to our industry."

Building upon its VMS leadership position, Genetec continues to achieve widespread adoption of its unified security platform, Security Center, in the education, city wide surveillance, transportation, retail, gaming, parking, and law enforcement sectors.

"Because Security Center combines video surveillance with access control and LPR, and integrates seamlessly with a multitude of partner technologies such as video analytics and intrusion software, Genetec can offer a stronger ROI to its customers," said Racz.

In 2012, Genetec also opened the door to new market opportunities with the launch of Stratocast, its cloud-based video surveillance solution powered by Windows Azure. Designed to meet the needs of small and midsized businesses, a section of the market that is currently underserved by existing VMS developers, Stratocast offers an enterprise-grade video monitoring solution without the costs and complexities of installing and managing on-premise systems.

 “Genetec’s video management revenues have grown at a double digit rate in recent years. It is estimated to have had the highest revenues for VMS software in the Americas in 2012 and equal highest revenues in the world,” according to Jon Cropley, principal analyst at IHS.