Global Market for Physical Security Information Management to Witness a Steady Growth over 2024

Global PSIM market will exhibit a remarkable 18.7% CAGR over the period between 2016 and 2024. As a result, the market, valuing at US$823.1 mn in 2015, will rise to US$3,832.6 mn by 2024.


Albany, NY -- (SBWIRE) -- 12/07/2017 -- Market Research Reports Search Engine (MRRSE) has announced the addition of a fresh report titled "Physical Security Information Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024". The report offers a detailed analysis of the global market for physical security information management (PSIM) for the period (2014-2024), where forecast for 2016 to 2024 is provided and 2015 has been kept as the base year with data for 2014 serving as historical information.

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The report talks about all the leading trends and factors influencing the growth of the global market for PSIM during the assessment period. The reader will gain access to information associated with elements that will play an important role shaping the dynamics of the market. The report also offers an all-inclusive perspective of the market and its value in terms of revenue estimates (in US$ Mn) across key regions including North America, the Middle East & Africa (MEA), South America, Europe, and Asia Pacific (APAC). In this report, a thorough segmental analysis of the market across the above mentioned regions have been offered.

Market Overview

PSIM software is used for monitoring and enhancing real-time visibility of security tools within the premises. The software also helps in controlling and managing of field situation through software interface. Features such as incident resolution, incident audit trail, information collection, incident reporting, incident verification and event analysis are embedded in PSIM software that enables user to have a better situational awareness. Smarting city projects in various parts of the world coupled with rising demand for security solutions are supporting the growth of PSIM market. Also, increase physical/cyber security threats in both mature and emerging economies is driving the demand for PSIM software and services. Growing requirements of centralized control of disparate security systems is expected to contribute to the growth of the market.

Focus is shifting towards improving incident management and situational awareness to manage incidents/situations in real-time. At the same time, enterprises are utilizing PSIM security platforms to get real-time updates from multiple locations to optimize security performance. The ever-evolving security needs is leading to adoption of cutting-edge security technologies.

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PSIM solutions are being increasingly deployed in religious buildings, sports complex and educational institutes to create customized integrated security systems that can overcome the modern security challenges. In addition, developments in internet of things (IoT) technology is projected to create market opportunities. The PSIM solution are integrated with IoT to develop visualized services platforms that can improve the overall functionality of PSIM solutions.

Segmental Analysis

On the basis of component, the global market for PSIM market has been segmented into service and software. The software segment is further sub-segmented into customized and off-the shelf. By service, the market has been segmented into operation & maintenance, consulting & training and installation /system integration. Based on end-user, the market is segmented into government and defense, residential, transportation and logistics, energy & utility, health care, telecom and IT, banking financial services and insurance (BFSI), retail, hospitality, industrial manufacturing and others.

Competitive Dashboard

Leading players profiled in the report include CNL Software Ltd., NICE Systems Ltd., videoNEXT Federal, Inc., Genetec, Inc., AxxonSoft, NEC Corporation, VidSys, Inc., Tyco International Ltd. (Proximex Corporation), Intergraph Corporation, Mer, Inc., Milestone Systems A/S, and S2 Security Corporation.

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