Physical Security Information Management Market Size 2022-2027, Industry Trends, Growth, Share, Analysis and Forecast
The latest research study "Physical Security Information Management Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that 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.
Physical security information management (PSIM) system integrates several non-connected security systems and information devices controlled by an extensive user interface. It consists of access control systems, sensors, geographic information system (GIS) mapping, closed-circuit television camera (CCTV), and network building solutions. PSIM system also collects and correlates events from existing security devices, enabling professionals to identify and proactively resolve emergencies in real-time. Owing to these benefits, various enterprises are adopting PSIM solutions to enhance the existing security systems.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Physical Security Information Management Market Trends and Drivers:
The market is primarily driven by the increasing incidences of cybercrimes across the globe. In addition, the increasing adoption of PSIM systems across the oil and gas sector due to the high risk of burglaries, thefts, and explosions in oil refineries, represent another major growth-inducing factor.
Besides this, governments of numerous countries are deploying PSIM in city surveillance systems, municipalities, and traffic control solutions to keep track of suspicious events and improve the security of the public and working professionals. This, coupled with the rising adoption of electronic health record (EHR) software in the healthcare sector to protect the sensitive information of patients from unauthorized access, is contributing to the market growth.
Furthermore, as educational institutions collect and maintain confidential digital information about students, staff, courses, facilities, and fiscal activities, there has been a high risk of data and campus security infringement. As a result, these institutions are adopting PSIM software for advanced security.
| Physical Security Information Management Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 1,019.1 Million |
| Market forecast in 2027 | US$ 2,419.3 Million |
| Growth Rate | CAGR of 14.70% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
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.
List of Major Key Players:
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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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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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