The global physical security information management market reached a value of US$ 1,019.1 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2,419.3 Million by 2027 exhibiting a CAGR of 14.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Physical security information management (PSIM) is software integrated with security applications and information devices to offer resilient security and control solutions. It comprises access control, fire and safety, perimeter intrusion protection, geographic information system (GIS) mapping, closed-circuit television camera (CCTV), telephony, radio networks, and command and control systems. It enhances the efficiency and effectiveness of security operations by enabling personnel to identify and proactively resolve emergencies in real-time. Consequently, enterprises across the globe are leveraging PSIM solutions to promote the safety and security of assets and employees.
Physical Security Information Management Market Trends:
Lapses in physical security can expose the sensitive data of organizations and lead to potentially serious consequences. This, in confluence with the increasing instances of cybercrimes, represents one of the key factors encouraging corporate enterprises to deploy PSIM solutions. Moreover, the high risk of burglaries, thefts, and explosions in oil refineries is contributing to the adoption of PSIM in the oil and gas sector. Apart from this, governmental organizations are deploying PSIM in municipalities, city surveillance systems, and traffic control solutions to keep track of suspicious events and improve the safety and security of the public and working professionals. Furthermore, with the growing utilization of electronic health record (EHR) software, the employment of PSIM is escalating in the healthcare industry to protect sensitive information of patients from unauthorized access. Besides this, educational institutions are increasingly relying on digital technologies to collect and maintain confidential information about students, staff, courses, programs, facilities, and fiscal activities. As this can result in data and campus security infringement, these institutions are adopting PSIM software for advanced situational awareness, which is positively influencing the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global physical security information management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, deployment mode and end use industry.
Breakup by Type:
Breakup by Deployment Mode:
Breakup by End Use Industry:
Transportation and Logistics
Government and Defense
Energy and Utilities
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Advancis Software & Services GmbH, AxxonSoft, easypsim AG, ela-soft GmbH (Gretsch-Unitas GmbH), Everbridge Inc., Genetec Inc., Hexagon AB, Johnson Controls International PLC, Milestone Systems A/S (Canon Inc.), OCTOPUS Systems, Prysm Software, Qognify Inc. and Verint Systems Inc. Key Questions Answered in This Report:
How has the global physical security information management market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global physical security information management market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global physical security information management market and who are the key players?
What is the degree of competition in the industry?