Omdia research reveals Genetec grew at three times the rate of the worldwide market; outpacing all other leading video surveillance software vendors in all geographies
According to latest research from its video surveillance and analytics intelligence service Omdia (Informa), Genetec Inc. continues to build its position as the world’s number one developer of video surveillance software with a widening share of the market. Overall, Genetec grew at three times the pace of the market and demonstrated the fastest growth of all leading* software companies across all geographies (based on Omdia reported 2018 and 2019 data).
“Genetec is encouraged by this news but we remind ourselves that the true measure of success is not to be found in market share figures but whether or not our partners and customers feel like we have delivered against the service levels and outcomes they expect,” states Pierre Racz, President, Genetec Inc. “Our independence and single-mindedness have helped us earn the trust of the market, and our investment in research and development have helped us deliver products at the cutting edge of client needs.”
Racz continues, “We have a broader obligation to our communities and society. As such we have been outspoken about privacy and cyber-security. We strongly believe that security and privacy can coexist and deliver greater benefits together than in isolation. We also believe that this is what fuels our continued success with organizations that share these values. We will continue to work hard to earn their trust.”
Enterprise, government, education, and public safety organizations alike are seeking greater privacy and cybersecurity functionality, as well as additional operational value and return on investment from their physical security systems. Their requirement for a secure video surveillance solution as part of a truly unified physical security platform has resulted in Genetec outpacing market growth across all geographies.
“The Genetec share of the global video surveillance software market continues to grow year on year,” said Jon Cropley Principal Analyst, Video Surveillance at Omdia. “The company reported high growth in all regions including in EMEA where, in spite of a slower market that contracted by over 3%, Genetec revenues increased by 19%.”
Additionally, according to the report, Genetec is now the #1 western supplier for back-end video surveillance equipment which combines recorders, encoders and software, demonstrating an increasing demand for trustworthy devices from a recognized leader in privacy and cybersecurity.
Comparing Year-on-Year Omdia Research Statistics (2018 to 2019):
- Genetec increased its lead as #1 video surveillance software in the world, with 11.9% market share (up from 10.6% in 2018)
- Genetec global market share growth increased 18.7% year on year, from 10.6% in 2018 to 11.9% in 2019
- Genetec saw the fastest growth of the ten largest vendors in EMEA at 19% in 2019
- Genetec posted Asia’s highest video surveillance software growth at 37%, compared to 11.1% growth for the market in general
*as measured against the top-five video surveillance software manufacturers per region, listed in Omdia’s most recent research report.