Physical Security Information Management (PSIM) Market by End-user, Solution, and Geography - Forecast and Analysis 2021-2025

The physical security information management (PSIM) market share is expected to increase by USD 3.21 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 22.15%.

This physical security information management (PSIM) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (PEU, transportation, commercial, government and defense, and others), solution (software and services), and geography (North America, Europe, APAC, MEA, and South America). The physical security information management (PSIM) market report also offers information on several market vendors, including AxxonSoft Inc., Everbridge Inc., Genetec Inc., Hexagon AB, Johnson Controls International Plc, NICE Ltd., Robert Bosch GmbH, Siemens AG, Verint Systems Inc., and Vidsys Inc. among others.

What will the Physical Security Information Management (PSIM) Market Size be During the Forecast Period?

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Physical Security Information Management (PSIM) Market: Key Drivers and Trends

The emergence of smart cities is notably driving the physical security information management (PSIM) market growth, although factors such as infrastructural requirements may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the physical security information management (PSIM) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Physical Security Information Management (PSIM) Market Driver

One of the key factors driving growth in the physical security information management (PSIM) market is the emergence of smart cities. Smart cities refer to the interconnection of several digital technologies, which will enhance communication among devices while improving their performance, reducing costs, and aiding in the efficient use of resources. PSIM solutions are commonly deployed in smart cities to control traffic, monitor the speed of vehicles, recognize the number plates of vehicles automatically, and guide parking. Smart cities must address the issue of public safety and mitigate crime holistically to provide a high quality of life to the people. PSIM solutions enable the efficient use of resources to ensure the safety and security of smart city infrastructure, the safety of citizens and promote a safe and secure city environment. The availability of technologically advanced infrastructure in smart cities makes them ideal for the effective implementation of PSIM solutions.

Key Physical Security Information Management (PSIM) Market Challenge

The infrastructural requirements will be a major challenge for the physical security information management (PSIM) market growth during the forecast period. Advanced infrastructures, such as bandwidth, video cameras, biometric data capturing devices, and storage, are required to deploy PSIM solutions. Video surveillance generates a large volume of video data, which must be stored and archived and the advent of 4K recording has created stress on storage systems. With high quality and reliability, storage solutions must also be scalable according to the demand for PSIM and the volume of surveillance data. The effective implementation of PSIM solutions necessitates adequate bandwidth, especially because of the introduction of specialized cameras that generate 4K and ultra-high-definition video content, which must be transferred and archived. Therefore, the transmission of high volumes of data requires high bandwidth. Poor network connectivity in developing and underdeveloped countries reduces the availability of high bandwidth, which affects data transmission. Connectivity issues in information and communications technology infrastructure can reduce the operational performance of PSIM solutions.

This physical security information management (PSIM) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Physical Security Information Management (PSIM) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• AxxonSoft Inc.
• Everbridge Inc.
• Genetec Inc.
• Hexagon AB
• Johnson Controls International Plc
• NICE Ltd.
• Robert Bosch GmbH
• Siemens AG
• Verint Systems Inc.
• Vidsys Inc.

This statistical study of the physical security information management (PSIM) market encompasses successful business strategies deployed by the key vendors. The physical security information management (PSIM) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The physical security information management (PSIM) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Physical Security Information Management (PSIM) Market?

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32% of the market’s growth will originate from North America during the forecast period. The US is the key market for physical security information management (PSIM) in North America. Market growth in this region will be faster than the growth of the market in the European and South American regions.

The availability of adequate IT and business infrastructure, stringent regulations on IT security compliance and governance, and the high adoption of cloud-based IT security solutions and services will facilitate the physical security information management (PSIM) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Physical Security Information Management (PSIM) Market?

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The physical security information management (PSIM) market share growth by the PEU segment will be significant during the forecast period. The increased digitization and stringent regulatory standards such as the Health, Safety, and Environment (HSE) standards are driving the adoption of PSIM in the power, energy, and utility (PEU) sectors to meet the regulatory requirements. In all these sectors, one of the primary end goals has always been the reduction of the costs and risks involved while maintaining superior quality and timeliness of the end product. The development of new energy production infrastructure is expected to drive the growth of this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the physical security information management (PSIM) market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Physical Security Information Management (PSIM) Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive physical security information management (PSIM) market growth during the next five years
• Precise estimation of the physical security information management (PSIM) market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the physical security information management (PSIM) industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of physical security information management (PSIM) market vendors

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