Physical Security Information Management Market by Type, Deployment, Industry

Description

List of Tables

[193 Pages Report] The Physical Security Information Management Market size was estimated at USD 3.19 billion in 2023 and expected to reach USD 3.49 billion in 2024, at a CAGR 9.49% to reach USD 6.02 billion by 2030.

Physical security information management (PSIM) is a comprehensive software solution designed to provide a centralized platform for monitoring, managing, and ensuring the integrity of an organization's security systems. It integrates various subsystems like surveillance, access control, alarms, and emergency communications into one coherent system, enabling real-time situation awareness and management. PSIM helps organizations enhance security operations' responsiveness and effectiveness by automating processes, providing situational analytics, and facilitating incident resolution and reporting. The system's ability to consolidate and analyze data from disparate security technologies optimizes operational efficiency and boosts the overall security infrastructure's efficacy. The demand for PSIM systems is significantly growing in critical sectors such as transportation, energy, and utilities due to their capability to integrate security applications via one comprehensive interface. This growth is driven by the heightened need for security protocols and centralized systems that can effectively manage vast networks of security information. However, data privacy and compatibility issues associated with the PSIM are significant challenges the companies and operators face. Moreover, the increasing development and improvements in integration technologies enable PSIM systems to combine multiple security functions efficiently. These innovations facilitate a unified platform for monitoring, managing, and recording security data from varied sources such as video surveillance, access control, and intrusion detection systems.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.19 billion
Estimated Year [2024]	USD 3.49 billion
Forecast Year [2030]	USD 6.02 billion
CAGR (%)	9.49%

Regional Insights

In America, particularly the United States and Canada, there is a high demand for sophisticated security systems, driven by the need to protect infrastructure against increasing security threats and technological advances. Customers in these countries prioritize integration capabilities, allowing them to coordinate various security elements such as video surveillance, access control, and incident response systems. This need is met through constant innovation and comprehensive PSIM solutions geared toward scalability and efficiency. In Europe, stringent data protection and privacy regulations compel PSIM providers to adhere to strict compliance standards such as GDPR. The market is characterized by high consciousness towards both cybersecurity and physical security. Additionally, the market's growth in the Middle East is driven by large-scale infrastructure projects and significant investments in smart city initiatives, which incorporate advanced PSIM systems for public safety and major event management. Asia Pacific witnesses robust growth in the PSIM market. In China, government initiatives focusing on enhancing public safety infrastructure, particularly in urban areas, contribute substantially to market expansion. Japan focuses on refining technological advancement and integrating PSIM solutions across various sectors, strongly emphasizing resilience against natural disasters. India is experiencing substantial growth due to increasing urban development and a focus on smart city initiatives requiring sophisticated and integrated security solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Physical Security Information Management Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing need for security protocols and centralized systems in commercial offices
- Expansion of IoT devices worldwide and the need for security measures for data threats and cybersecurity

Market Restraints
- Concerns associated with data privacy and security

Market Opportunities
- Introduction of cloud PSIM and advancements in a unified platform for monitoring and management
- Government initiatives and investment in developing safe city infrastructure

Market Challenges
- Complexities associated with the integration of PSIM with existing system

Market Segmentation Analysis
- Type: Introduction of advanced PSIM suites to enhance situational awareness and response capabilities
- Industry: Increasing usage of PSIM in varied industries to streamline security measures and operational coherence

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Physical Security Information Management Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Physical Security Information Management Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ISACA Partnered with AEINSE to Launch New Cybersecurity Credential for Physical Security Professionals

ISACA, a global association focused on IT governance, joined forces with the Association of Engineers in National Security and Information Systems (AEINSE) to introduce a specialized cybersecurity credential. This new certification aims to equip physical security engineers with the essential cybersecurity skills to protect physical security systems from digital threats. The program addresses the growing need for comprehensive security protocols encompassing physical and cyber aspects, providing engineers and professionals with updated tools and knowledge to confront and mitigate potential security vulnerabilities effectively. [Published On: 2024-02-19]

Cybeats' Strategic Partnership with Health-ISAC to Enhance Healthcare Security

Cybeats Technologies Inc., a player in cybersecurity technologies, has formed a strategic partnership with the Health Information Sharing and Analysis Center (Health-ISAC), a global entity dedicated to enhancing health sector organizations' cybersecurity and physical security. This collaboration aims to introduce a new commercial solution, ' Health-ISAC SBOM Studio.' SBOM Studio is designed to provide health organizations with advanced tools for managing software bills of materials (SBOM), thereby ensuring higher transparency in software components and bolstering security against cyber threats. [Published On: 2023-11-27]

AxxonSoft and Lanier Rep Group Team Up to Enhance Security Solutions Distribution Across the United States

AxxonSoft partnered up with Lanier Rep Group Inc. to distribute AxxonSoft's advanced security solutions more widely across the United States. Known for its cutting-edge software that combines intelligent video analytics with physical security information management, AxxonSoft expects this collaboration to expand its market footprint and elevate the availability and implementation of high-tech security solutions, improving physical safety and operational efficiency for various industries throughout the region. [Published On: 2023-06-16]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Physical Security Information Management Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Physical Security Information Management Market, highlighting leading vendors and their innovative profiles. These include AARMTech, Axxonsoft, BOLD Group, Brivo, Inc., Condortech Services Inc., Genetec Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Intel Corporation, Isarsoft GmbH, Johnson Controls International PLC, Microsoft Corporation, NEC Corporation, NICE Systems Ltd., Octopus Systems Ltd., Senstar Corporation, Siemens AG, TATA Consultancy Services Limited, Tyco International PLC, Vidsys Inc., Visual Management System Ltd., and Western Advance Group.

Market Segmentation & Coverage

This research report categorizes the Physical Security Information Management Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Services
- Solution

Deployment
- Cloud
- On-Premise

Industry
- Aerospace & Defense
- Automotive & Transportation
- Banking, Financial Services & Insurance
- Building, Construction & Real Estate
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Information Technology
- Manufacturing
- Media & Entertainment
- Telecommunication
- Travel & Hospitality

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-43539E5D328E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing need for security protocols and centralized systems in commercial offices
  - 5.1.1.2. Expansion of IoT devices worldwide and the need for security measures for data threats and cybersecurity
- 5.1.2. Restraints
  - 5.1.2.1. Concerns associated with data privacy and security
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of cloud PSIM and advancements in a unified platform for monitoring and management
  - 5.1.3.2. Government initiatives and investment in developing safe city infrastructure
- 5.1.4. Challenges
  - 5.1.4.1. Complexities associated with the integration of PSIM with existing system
5.2. Market Segmentation Analysis
- 5.2.1. Type: Introduction of advanced PSIM suites to enhance situational awareness and response capabilities
- 5.2.2. Industry: Increasing usage of PSIM in varied industries to streamline security measures and operational coherence
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Physical Security Information Management Market, by Type

6.1. Introduction
6.2. Services
6.3. Solution

7. Physical Security Information Management Market, by Deployment

7.1. Introduction
7.2. Cloud
7.3. On-Premise

8. Physical Security Information Management Market, by Industry

8.1. Introduction
8.2. Aerospace & Defense
8.3. Automotive & Transportation
8.4. Banking, Financial Services & Insurance
8.5. Building, Construction & Real Estate
8.6. Consumer Goods & Retail
8.7. Education
8.8. Energy & Utilities
8.9. Government & Public Sector
8.10. Healthcare & Life Sciences
8.11. Information Technology
8.12. Manufacturing
8.13. Media & Entertainment
8.14. Telecommunication
8.15. Travel & Hospitality

9. Americas Physical Security Information Management Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Physical Security Information Management Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Physical Security Information Management Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. ISACA Partnered with AEINSE to Launch New Cybersecurity Credential for Physical Security Professionals
- 12.3.2. Cybeats' Strategic Partnership with Health-ISAC to Enhance Healthcare Security
- 12.3.3. AxxonSoft and Lanier Rep Group Team Up to Enhance Security Solutions Distribution Across the United States
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio