NEW YORK, June 30, 2023 /PRNewswire/ -- The physical security information management (PSIM) market is estimated to grow at a CAGR of 21.31% between 2022 and 2027. The size of the market is forecast to increase by USD 3,143.5 million according to Technavio. The need to mitigate criminal activities and terrorist attacks is a key factor driving market growth. The rise in terrorist attacks, particularly in countries like the United States and the United Kingdom, has created a need for the use of PSIM solutions. PSIM solutions are also effective in combating various criminal activities, including robbery, murder, and theft. In addition, these solutions enable the tracking and apprehension of criminals, providing valuable evidence for legal proceedings. Governments in several countries have imposed strict regulations that mandate the installation of PSIM solutions in public areas such as hypermarkets, hospitals, airports, ports, train stations, hotels, and shopping malls. Hence, these factors are expected to drive the market growth during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

• Global competitiveness and key competitor positions

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Physical security information management (PSIM) market – Vendor Analysis

Vendor Landscape - The physical security information management (PSIM) market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer physical security information management (PSIM) in the market are Advancis Software and Services GmbH, AxxonSoft Inc., Carrier Global Corp., easypsim AG, Everbridge Inc., Genetec Inc., Hexagon AB, Johnson Controls International Plc., Kentima AB, LG Corp., Milestone systems AS, Nanodems Corp., NAUTA SOLUCOES SEGURANCA LDA., NICE Ltd., Powersim Inc., Powersys Solutions, Robert Bosch GmbH, Siemens AG, Verint Systems Inc., and Vidsys Inc. and others.

Vendor Offerings -

• AxxonSoft Inc. - The company offers physical security information management, which connects security systems, sensors, and data within a single intuitive interface.

• Genetec Inc. - The company offers physical security information management software named Genetec ClearID

• Johnson Controls International Plc. - The company offers physical security information management such as Access Control

• For details on the vendor and its offerings – Request a sample report

Physical Security Information Management (PSIM) Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on end-user (power/energy and utility, transportation, commercial, government and defense, and others), and solution (software and services)

• The market share growth in the power/energy and utility segment will be significant during the forecast period. The increasing digitalization and the implementation of strict regulatory norms like Health, Safety, and Environment (HSE) standards are propelling the adoption of PSIM in the power, energy, and utility (PEU) sectors. PSIM is utilized in these sectors to ensure compliance with regulations and safeguard employees from potential hazards such as fires, radiation, and explosions in manufacturing facilities. By offering real-time data without the need for human intervention on critical job sites, PSIM enhances safety measures. Moreover, the expansion of power generation infrastructure is expected to drive the segment growth during the forecast period.

Geography Overview

By geography, the market is segmented into (North America, Europe, APAC, Middle East and Africa, and South America). The report provides actionable insights and estimates the contribution of all regions to the growth of the physical security information management (PSIM) market.

• North America is estimated to contribute 32% to the growth of the global market during the forecast period. PSIM adoption in North America is driven by several factors, including the presence of effective IT and business infrastructure, strict regulations concerning IT security compliance and governance, and the use of cloud-based IT security solutions and services. Furthermore, this growth can be due to the rising utilization of access controls and IP security centers, which are increasingly being implemented to regulate the movement of individuals within commercial, institutional, and industrial establishments. Hence, these factors are expected to drive the growth in this region during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Physical Security Information Management (PSIM) Market – Market Dynamics

Major Trends

• Integration of IoT with physical security is a major trend in the market.

• The IoT plays an important role in wireless video surveillance by capturing videos and transmitting them over wireless networks to connected devices.

• This enables real-time decision-making and provides immediate responses to events captured by the surveillance system.

• Furthermore, the integration of IoT in wireless video surveillance improves interactivity, allowing for better communication and integration with PSIM solutions.

• The combination of IoT, video surveillance, and commercial systems creates a more interactive and connected environment, enhancing communication and overall security management.

Significant Challenge

• The infrastructural requirements will be a major challenge for the PSIM market.

• Video surveillance systems generate substantial amounts of video data that need to be stored and archived.

• The transmission of this large volume of data requires high bandwidth to ensure efficient and timely transfer.

• However, in developing and underdeveloped countries, poor network connectivity can limit the availability of high bandwidth, negatively impacting data transmission.

• Connectivity issues in information and communications technology infrastructure can lead to reduced operational performance of Physical Security Information Management (PSIM) solutions.

• Hence, these factors are expected to restrict the market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Physical Security Information Management (PSIM) Market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the physical security information management (PSIM) market between 2023 and 2027

• Precise estimation of the size of the physical security information management (PSIM) market and its contribution to the market with a focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the physical security information management (PSIM) market across North America, Europe, APAC, Middle East and Africa, and South America

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of physical security information management (PSIM) market vendors.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global physical security information management (PSIM) market 2017 - 2021

• 4.2 By end-user Segment Analysis 2017 - 2021

• 4.3 By Solution Segment Analysis 2017 - 2021

• 4.4 By Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by End-user

• 6.1 Market segments

• 6.2 Comparison by End-user

• 6.3 Power/energy and utility - Market size and forecast 2022-2027

• 6.4 Transportation - Market size and forecast 2022-2027

• 6.5 Commercial - Market size and forecast 2022-2027

• 6.6 Government and defense - Market size and forecast 2022-2027

• 6.7 Others - Market size and forecast 2022-2027

• 6.8 Market opportunity by End-user

7 Market Segmentation by Solution

• 7.1 Market segments

• 7.2 Comparison by Solution

• 7.3 Software - Market size and forecast 2022-2027

• 7.4 Services - Market size and forecast 2022-2027

• 7.5 Market opportunity by Solution

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 APAC - Market size and forecast 2022-2027

• 9.6 Middle East and Africa - Market size and forecast 2022-2027

• 9.7 South America - Market size and forecast 2022-2027

• 9.8 US - Market size and forecast 2022-2027

• 9.9 China - Market size and forecast 2022-2027

• 9.10 UK - Market size and forecast 2022-2027

• 9.11 Japan - Market size and forecast 2022-2027

• 9.12 Germany - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 AxxonSoft Inc.

• 12.4 Carrier Global Corp.

• 12.5 easypsim AG

• 12.6 Everbridge Inc.

• 12.7 Genetec Inc.

• 12.8 Hexagon AB

• 12.9 Johnson Controls International Plc.

• 12.10 Kentima AB

• 12.11 Milestone systems AS

• 12.12 NAUTA SOLUCOES SEGURANCA LDA.

• 12.13 NICE Ltd.

• 12.14 Robert Bosch GmbH

• 12.15 Siemens AG

• 12.16 Verint Systems Inc.

• 12.17 Vidsys Inc.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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