Physical Security Information Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Physical Security Information Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global physical security information management market size reached US$ 1,189.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,779.7 Million by 2028, exhibiting a growth rate (CAGR) of 14.56% during 2023-2028.

Physical security information management (PSIM) is software integrated with security applications and information devices to offer resilient security and control solutions. It comprises access control, fire and safety, perimeter intrusion protection, geographic information system (GIS) mapping, closed-circuit television camera (CCTV), telephony, radio networks, and command and control systems. It enhances the efficiency and effectiveness of security operations by enabling personnel to identify and proactively resolve emergencies in real-time. Consequently, enterprises across the globe are leveraging PSIM solutions to promote the safety and security of assets and employees.

Physical Security Information Management Market Trends:
Lapses in physical security can expose the sensitive data of organizations and lead to potentially serious consequences. This, in confluence with the increasing instances of cybercrimes, represents one of the key factors encouraging corporate enterprises to deploy PSIM solutions. Moreover, the high risk of burglaries, thefts, and explosions in oil refineries is contributing to the adoption of PSIM in the oil and gas sector. Apart from this, governmental organizations are deploying PSIM in municipalities, city surveillance systems, and traffic control solutions to keep track of suspicious events and improve the safety and security of the public and working professionals. Furthermore, with the growing utilization of electronic health record (EHR) software, the employment of PSIM is escalating in the healthcare industry to protect sensitive information of patients from unauthorized access. Besides this, educational institutions are increasingly relying on digital technologies to collect and maintain confidential information about students, staff, courses, programs, facilities, and fiscal activities. As this can result in data and campus security infringement, these institutions are adopting PSIM software for advanced situational awareness, which is positively influencing the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global physical security information management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Advancis Software & Services GmbH, AxxonSoft, easypsim AG, ela-soft GmbH (Gretsch-Unitas GmbH), Everbridge Inc., Genetec Inc., Hexagon AB, Johnson Controls International PLC, Milestone Systems A/S (Canon Inc.), OCTOPUS Systems, Prysm Software, Qognify Inc. and Verint Systems Inc.

Key Questions Answered in This Report

1. What was the size of the global physical security information management market in 2022?
2. What is the expected growth rate of the global physical security information management market during 2023-2028?
3. What are the key factors driving the global physical security information management market?
4. What has been the impact of COVID-19 on the global physical security information management market?
5. What is the breakup of the global physical security information management market based on the type?
6. What is the breakup of the global physical security information management market based on the deployment mode?
7. What is the breakup of the global physical security information management market based on the end use industry?
8. What are the key regions in the global physical security information management market?
9. Who are the key players/companies in the global physical security information management market?