Physical Security Information Management Market Size Expected to Grow US$ 2,419.3 Million by 2027 | Witness High Growth Over The Forecast Period

Physical Security Information Management Market Report Overview :

According to IMARC Group's latest report, titled "Physical Security Information Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on the market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

A Closer Look at the Physical Security Information Management Market Size | 2022

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.

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Physical Security Information Management Market Insight :

Physical security information management (PSIM) is software incorporated with systems that manage access control, video monitoring, intruder detection, closed-circuit television (CCTV), and site facilities. It has various features, including integration, analysis, verification, resolution, reporting, and auditing. It also comprises a geographic information system (GIS) mapping, closed-circuit television cameras (CCTV), telephony, access control, fire and safety, perimeter intrusion protection, radio networks, and command and control systems. In addition, these systems assist in saving time, reducing risk through automation, ensuring compliance with policies, accelerating response times, and avoiding technology lock-ins. Owing to these properties, PSIM is extensively used across oil and gas, healthcare, corporate enterprise, manufacturing, travel, transportation, retail, distribution, education, energy, and law enforcement industries.

Physical Security Information Management Market Current Trends & Future Predictions :

The market is primarily driven by the rising incidences of security breaches, data theft, and cybercrimes across the globe. In addition, the sudden onset of the coronavirus (COVID-19) disease and enforced lockdowns, coupled with the increasing adoption of remote working by various corporations, have escalated the demand for wireless security systems.

Moreover, rapid digitalization and technological advancements are also contributing to market growth. Besides this, governmental organizations are utilizing PSIM in city surveillance systems, traffic control solutions, and municipalities to keep track of suspicious events and enhance the safety and security of the public and working professionals.

This, coupled with the growing utilization of electronic health record (EHR) software and the rising usage of PSIM in the healthcare sector to protect the sensitive information of patients from unauthorized access, is anticipated to propel the market growth. Furthermore, educational institutions are relying on digital technologies to organize and maintain confidential information about courses, programs, facilities, students, staff, and fiscal activities, which is also creating a positive market outlook.

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Global Physical Security Information Management Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of region, type, deployment mode and end use industry.

Breakup by Type:
• Solution
• Services

Breakup by Deployment Mode:
• On-premises
• Cloud-based

Breakup by End Use Industry:
• BFSI
• Transportation and Logistics
• Government and Defense
• Retail
• Energy and Utilities
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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