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Verint Systems, a provider of networked video solutions, announced that the company has won 2010 North America Frost & Sullivan Company of the Year Award for its IP Video Surveillance Software.

In a market with weak growth strategies Verint (News - Alert) has pioneered IP surveillance management with its best-in-class solutions and has remained competitive by including integrated video analytics in its management platform, increasing the value of its software to both end users and systems integrators, the company said.

According to Verint officials, the total IP surveillance market, which includes IP surveillance management software, encoders, IP cameras, and NVRs, is the fastest-growing segment in the security industry. Verint has maintained a healthy market share right from the outset.

Frost & Sullivan’s (News - Alert) Company of the Year Award recognizes companies which have demonstrated unparalleled excellence within its industry. This recognition is based on the company’s business development, competitive strategy, customer satisfaction, and leadership. The recipient is perceived to exhibit outstanding management and consistent growth.

Verint has worked hard on building hardware products that enable migration from traditional analog platforms to an IP platform. Verint’s Nextiva solutions can work effectively in IP, analog, and hybrid environments, company officials added.

The increasing ability of IP to reduce threats and increase the effectiveness of security technology enables Verint to deliver solutions that can help end users migrate at their own pace, using hybrid solutions, without making astronomical capital investments, according to company officials. This strategy makes the company the ideal partner for helping organizations maximize return on their investments.

For existing installations, Verint works with systems integrators and end users to implement encoders and network video recorder technology to convert analog signals to digital, allowing end users to take advantage of Verint’s IP video management solutions with embedded video analytics, the company said.

Phased migrations to new technology help users understand their capabilities in advance, making the transition smoother. For new installations, the use of full IP solutions helps improve safety and security, while future-proofing the technology, company officials added.

“Verint leads in various IP video surveillance market segments, including critical infrastructure, education and corporate enterprise, transportation, retail, banking, and a host of other industries,” Dilip Sarangan, Frost & Sullivan industry analyst, said.

The company has introduced a variety of IP cameras, wireless devices, NVRs, and encoders. The company’s ability to provide a wide range of quality products has positioned it to grow rapidly in the ever-evolving video security market, according to company officials.

Meanwhile, the market is grappling with integration issues since a bulk of the vendors provide niche solutions, some of which are built on proprietary platforms, while others are developed on an open-IT platform, according to Verint.

Verint’s ability to provide best-in-class solutions, using IP networks, helps ensure that end users have access to the best solutions that can be integrated with other disparate security technologies, the company said.

In April, Verint announced that its next-generation Impact 360 Workforce Optimization suite received the CRM magazine “Service Winner” award. The company also earned a “Service Leader” award in the Enterprise Feedback Management category, a TMCnet report said.