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Market Insight- Global Physical Security Information Management Market

Market Overview

Physical security information management (PSIM) is a type of software that provides platforms and applications created by middleware developers. It is designed to incorporate several unconnected security applications and devices and control them through one robust user interface. The government of various countries and defense sector is implementing PSIM solutions, in order to lay emphasis on crime reduction, desire to attain centralized control for safety and management of security incidents, and rising need to secure cities. PSIM offers improved operational efficiency, lower response time for management of security events, and quicker threat detection. Transpiration and logistics industry is predominantly adopting PSIM, in order to secure and monitor transportation activities. Moreover, PSIM systems are deployed at airports to provide protection for duty-free areas and important infrastructure.

The global Physical Security Information Management Market was accounted for US$ 1,626.3 Mn in terms of value in 2019 and is expected to grow at CAGR of 18.7% for the period 2019-2027.

Market Dynamics- Drivers

  1. Rising demand for centralized security systems is expected to drive growth of the global physical security information management market during the forecast period

Increasing incidences of security breaches have increased the demand for enhanced and effective operational control over disparate physical security systems. Many large organizations are deploying complex security systems due to a lack of communication with other systems. Furthermore, many organizations are focused on the development of centralized security, in order to achieve consistent levels of security, accessibility across all sites, and enhanced remote monitoring. For instance, in July 2016, the City of Cleveland, Ohio, the U.S. deployed converged security and information management software developed by Vidsys, Inc. based in Vienna, Virginia, the U.S. to secure the city during the Republican National Convention event. This security management platform would enable the city to create a video database for real-time updates across multiple locations.  

  1. High adoption of PSIM across emerging economies is expected to propel the global physical security information management market growth over the forecast period

Many emerging economies are adopting PSIM solutions, owing to rising demand for enhanced security systems to minimize vulnerabilities and efficiently identify and rectify intrusions. Moreover, this demand is increasing due to a rise in hybrid cyber/physical threats faced by organizations. Thus, these factors are expected to support the global physical security information management market growth over the forecast period.

North America region dominated the global Physical Security Information Management Market in 2019, accounting for 34.0% share in terms of value, followed by Europe, Asia Pacific, Middle East and Africa and Latin America.

Physical Security Information Management  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. High cost related to the deployment of PSIM solutions is expected to hamper the global physical security information management market growth over the forecast period

For efficient and effective deployment of PSIM systems, a security system that supports PSIM is required. The standalone security system requires updates, in order to implement the PSIM solution. Since the cost of updating these security systems is high, which discourages end users to adopt PSIM solutions, especially small and medium-sized enterprises. Thus, these factors are expected to hamper the market growth over the forecast period.

  1. Availability of competitive security solutions is expected to hinder growth of the global physical security information management market

Although PSIM offers advanced security solutions to industries, the penetration of these systems is still ongoing. Other competitive security systems such as video management systems (VMS) and access control systems (ACS) are majorly adopted across the globe and expected to restrict the market growth. This is owing to integration capabilities offered by VMS solutions.

Market Opportunities

  1. Integration of PSIM with the Internet of Things (IoT) can provide major business opportunities

Internet of Things (IoT) is an evolving and cutting-edge technology that helps to send and receive data from internet-enabled devices. Integrating PSIM with IoT presents lucrative opportunities to extend solution and service offerings and develop enhanced security solutions. Moreover, integration of IoT with PSIM would offer advanced connectivity to disparate security systems such as sensors video surveillance cameras, access control systems, and other security systems such as alarm systems, and deliver enhanced security management platforms.

  1. Use of AI to boost surveillance can present lucrative growth opportunities in the near future

Artificial intelligence is another evolving technology that can open new avenues for solutions providers. AI can be used to enhance surveillance process, thereby improving overall security and reduce breaches. Furthermore, AI can reduce cost required for deployment of PSIM solutions as well as human errors.

Physical Security Information Management  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Growing focus on empowering security personnel can offer major growth opportunities

Situational awareness and situation management are major focus areas of organizations. Many enterprises are providing high-quality performance in security applications. Moreover, provision of mobile and centralized applications have enabled organizations to deliver an effective method for security personnel and field employees to handle situations and incident with organizations’ best practices.

  1. Increasing emphasis on safe city projects

Many city governments across the globe are focused on adopting PSIM solutions for high-security applications namely safe city programs and critical infrastructure protection. Moreover, emphasis on the development of smart cities in emerging economies is increasing. Similarly, city administrations, governments, and the defense sector are investing and deploying centralized security systems namely PSIM for efficient management of security incidents and response management to these situations. For instance, New York City’s Department of Information Technology and Telecommunications (DoITT) has integrated its Emergency Communications Transformation Program (ECTP) with PSIM solutions for enhanced public safety call recording and incident management.

Regulations

Europe

  • Europe has critical infrastructure protection policies and critical information infrastructure policies to enhance the operational focus on security-related concerns
  • In Europe, a number of initiatives are developed for addressing security of public electronic communication networks and services. Moreover, European Programme for Critical Infrastructure Protection (EPCIP) has been developed for effective implementation of security policies.

Value Chain Analysis

The PSIM ecosystem is mainly divided into three models: vendors, system integrators, and end-users

  • Vendors:
    • Some of the vendors are delivering complete PSIM solutions and services, including customized and off-the-shelf (COTS) products to the industries. These vendors include standalone PSIM solution and service providers, PSIM integration providers and third-party solution providers. Standalone PSIM vendors provide complete services and solutions from requirement gathering to the maintenance of PSIM systems after deployment. Moreover, the integration of existing security systems such as access control, sensors, video management systems and others with PSIM systems is implemented by these vendors. Many PSIM vendors partner with system integrators to deliver best-fit solutions to the businesses. Thus, PSIM vendors can deliver their solution to the businesses through system integrators or third-party vendors or directly to the customers.
  • System Integration:
    • System integrators are trusted advisors in this value chain who have expertise in security sub-systems. System integrators delivers the required PSIM solutions to the customers directly or from vendors to the businesses. System integrators analyze the existing system environment to identify the integration requirements and evaluate security operations to identify strategic plans, procedures, and security policies for the deployment of complete situation management solutions. System integrators or third-party vendors deploy PSIM solutions from vendors to their customers. Similarly, system integrators can further take solutions from other system integrators or third-party vendors for the deployment of PSIM.
  • Application/ End-users:
    • For deployment, end-users analyze the security requirements for new solutions or integrated solutions for their existing systems, and implement PSIM solutions by contacting PSIM vendors directly or through system integrators or third-party vendors

Between the forward and backward integration scenarios, the forward scenario is often adopted for the implementation of PSIM solutions across various industries.

Physical Security Information Management  | Coherent Market Insights

Segment information:

In global physical security information management Market, by Component, Software sub-segment dominated the global market in 2019, accounting for 56.2% share in terms of value, followed by Service.

Physical Security Information Management  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players operating in the global physical security information management market area Mer, Inc., AxxonSoft, NEC Corporation, Genetec, Inc., CNL Software Ltd., Milestone Systems A/S, VidSys, Inc., S2 Security Corporation, Tyco International Ltd. (Proximex Corporation), videoNEXT Federal, Inc., NICE Systems Ltd., and Intergraph Corporation.

Key Developments

  1. Key companies in the market are focused on partnerships and collaborations, in order to enhance the market presence. For instance, in September 2019, CNL Software, a U.K.-based PSIM solutions provider, partnered with Cepton Technologies to boost automation of threat detection, tracking, and escalation in real-time using the latest PSIM.
  2. Major companies in the market are involved in product launches, in order to expand the product portfolio. For instance, in January 2020, VidSys, Inc. introduced the latest version of its security software platform named ‘VidSys Enterprise 2020 R1.0.’

Physical security information management (PSIM) is a type of software that provides platforms and applications created by middleware developers. It is designed to incorporate several unconnected security applications and devices and control them through one robust user interface. The government of various countries and defense sector is implementing PSIM solutions, in order to lay emphasis on crime reduction, desire to attain centralized control for safety and management of security incidents, and rising need to secure cities. PSIM offers improved operational efficiency, lower response time for management of security events, and quicker threat detection. Transpiration and logistics industry is predominantly adopting PSIM, in order to secure and monitor transportation activities. Moreover, PSIM systems are deployed at airports to provide protection for duty-free areas and important infrastructure.

Market Dynamics

Increasing incidences of security breaches have increased the demand for enhanced and effective operational control over disparate physical security systems. Many large organizations are deploying complex security systems due to a lack of communication with other systems. Furthermore, many organizations are focused on the development of centralized security, in order to achieve consistent levels of security, accessibility across all sites, and enhanced remote monitoring. For instance, in July 2016, the City of Cleveland, Ohio, the U.S. deployed converged security and information management software developed by Vidsys, Inc. based in Vienna, Virginia, the U.S. to secure the city during the Republican National Convention event. This security management platform would enable the city to create a video database for real-time updates across multiple locations. Many emerging economies are adopting PSIM solutions, owing to rising demand for enhanced security systems to minimize vulnerabilities and efficiently identify and rectify intrusions. Moreover, this demand is increasing due to a rise in hybrid cyber/physical threats faced by organizations. Thus, these factors are expected to support the global physical security information management market growth over the forecast period.

Market Taxonomy

This report segments the Global Physical Security Information Management Market on the basis of Component, End-Use Industry and Region. On the basis of Component, Global Physical Security Information Management Market is segmented into Software and Service. Furthermore software sub-segment is divided into Off-the shelf and Customized. Both the Off-the shelf and Customized are again divided into On Premise and Cloud Based. On the basis of End-Use Industry, the Global Physical Security Information Management Market is segmented into Residential, Retail, BFSI, Telecom and IT, Transportation and Logistics, Government and Defense Sector, Hospitality, Industrial, Manufacturing, Energy and Utility, Healthcare and Others.. On the basis of region, Global Physical Security Information Management Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Physical Security Information Management Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Physical Security Information Management Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Physical Security Information Management Market includes Mer, Inc., AxxonSoft, NEC Corporation, Genetec, Inc., CNL Software Ltd., Milestone Systems A/S, VidSys, Inc., S2 Security Corporation, Tyco International Ltd. (Proximex Corporation), videoNEXT Federal, Inc., NICE Systems Ltd., and Intergraph Corporation.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Physical Security Information Management market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Physical Security Information Management Market

Detailed Segmentation:

  • Global Physical Security Information Management Market, By Component:
    • Software
      • Off-the Shelf
        • On Premise
        • Cloud Based
      • Customized
        • On Premise
        • Cloud Based
    • Service
      • Installation/ System Integration
      • Operation and Maintenance
      • Consulting and Training
  • Global Physical Security Information Management Market, By End-Use Industry:
    • Residential
    • Retail
    • BFSI
    • Telecom and IT
    • Transportation and Logistics
    • Government and Defense Sector
    • Hospitality
    • Industrial
    • Manufacturing
    • Energy and Utility
    • Healthcare
    • Others
  • Global Physical Security Information Management Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  • Company Profiles
    • AxxonSoft
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • CNL Software Ltd.
    • Genetec, Inc.
    • Intergraph Corporation.
    • Mer, Inc.
    • Milestone Systems A/S
    • NEC Corporation
    • NICE Systems Ltd.
    • S2 Security Corporation
    • Tyco International Ltd. (Proximex Corporation)
    • videoNEXT Federal, Inc.
    • VidSys, Inc.

Browse all the market data tables and figures on “Global Physical Security Information Management Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Component
      • Market Snippet, By End-Use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Physical Security Information Management Market, BY Component, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Software
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Off-the Shelf
          • On Premise
          • Cloud Based
        • Customized
          • On Premise
          • Cloud Based
    • Service
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Installation/ System Integration
        • Operation and Maintenance
        • Consulting and Training
  5. Global Physical Security Information Management Market, By End-Use Industry, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Residential
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • BFSI
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Telecom and IT
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Transportation and Logistics
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Government and Defense Sector
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Hospitality
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Industrial
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Manufacturing
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Energy and Utility
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Physical Security Information Management Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Component, 2019–2027(US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Component, 2019–2027(US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Component, 2019–2027(US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Component, 2019–2027(US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Component, 2019–2027(US$ Million)
      • Market Size and Forecast, By End-Use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • AxxonSoft
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • CNL Software Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Genetec, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Intergraph Corporation.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mer, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Milestone Systems A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NEC Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NICE Systems Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • S2 Security Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tyco International Ltd. (Proximex Corporation)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • videoNEXT Federal, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NICE Systems Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Physical Security Information Management Market -forecast to 2027”.

Frequently Asked Questions

The global physical security information management market is estimated to account for US$ 1,626.3 Mn in terms of value in 2019.
Major players operating in the global physical security information management market include Mer, Inc., AxxonSoft, NEC Corporation, Genetec, Inc., CNL Software Ltd., Milestone Systems A/S, VidSys, Inc., S2 Security Corporation, Tyco International Ltd. (Proximex Corporation), videoNEXT Federal, Inc., NICE Systems Ltd., and Intergraph Corporation.
High cost related to the deployment of PSIM solutions is one of the major factors that is expected to hamper growth of the market over the forecast period.
Rising demand for centralized security systems is one of the major factors that is expected to propel growth of the market over the forecast period.
The global physical security information management market is estimated to exhibit a CAGR of 18.7% during the forecast period (2019-2027).
Among regions, North America is expected to hold dominant position in the global physical security information management market in 2019, accounting for 34.0% share in terms of value, followed by Europe, Asia Pacific, Middle East and Africa and Latin America.
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