USD 2.7 billion
Report ID:
SQMIG45A2345 |
Region:
Global |
Published Date: October, 2024
Pages:
197
|Tables:
92
|Figures:
74
Physical Security Information Management Market size was valued at USD 3.44 Billion in 2023 and is poised to grow from USD 3.59 Billion in 2024 to USD 5.03 Billion by 2032, growing at a CAGR of 4.3% during the forecast period (2025-2032).
Physical security information management is a platform or solution that integrates multiple non-linked security systems through a unified interface for better control and access. Growing incidence of physical intrusions, vandalism, and terrorist activities has boosted the demand for comprehensive security solutions thereby driving physical security information management market growth as well. Implementation of stringent mandates by governments necessitating the use of physical security systems and solutions is also boosting the adoption of physical security information management around the world. Use of artificial intelligence and other advanced technologies will improve the functionality of physical security information management solutions across the forecast period. On the contrary, high costs of implementation and integration are forecasted to slow down physical security information management market development in the future.
Global Market Size
USD 2.7 billion
Largest Segment
Services
Fastest Growth
Solutions
Growth Rate
16.7% CAGR
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Global Physical Security Information Management (PSIM) Market is segmented by Offering, Deployment Mode, Organization Size, Vertical and Region. Based on Offering, the market is segmented into Software (Access Control, Video Management, Intrusion Detection Management, Fire Safety & Alarms, GIS Mapping Systems, and HVAC), and Services. Based on Deployment Mode, the market is segmented into On-Premises, and Cloud. Based on Organization Size, the market is segmented into SMEs and Large Enterprises. Based on Vertical, the market is segmented into BFSI, IT & ITeS, Government, Healthcare, Retail & eCommerce, Residential, Transportation & Logistics, and Other Verticals. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
The solution segment is estimated to hold sway over the global physical security information management demand outlook. Growing demand for advanced physical security information management software solutions and the increasing need to link multiple separate security systems are contributing to the high market share of this segment. The potential of good software to transform physical security information management into a full-fledged site management solution also helps this segment maintain its high market share.
Meanwhile, the demand for physical security information management services is projected to increase at a robust pace across the forecast period and beyond. Rising demand for security consulting services and growing use of analytics-as-a-service are factor that will help market growth via this segment in the future.
Analysis by Deployment Mode
On-premise physical security information management solutions account for a major share of the global physical security information management market. Higher control and flexibility over security data offered by on-premise deployment has allowed it to maintain a high market share in the global landscape. However, this segment is projected to lose some market share to cloud deployment by the end of the study period.
Demand for cloud-based physical security information management is anticipated to surge at a rapid pace over the coming years. Growing acceptance of cloud technologies and rising awareness regarding benefits associated with the use of cloud-based applications are slated to bolster growth in this segment. Integration of cloud-based physical security information management with advanced technologies also boosts market development.
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North America is estimated to account for a substantial share of the global physical security information management market. The rapid adoption of advanced security systems to protect the countries in this region is slated to bolster the demand for physical security information management going forward. The growing need for a centralized security console for all types of security systems is also promoting sales of physical security information management in this region. The United States is slated to spearhead market growth in this region. High spending of public and private organizations on security is also favoring market growth in this region.
The Asia Pacific region is estimated to emerge as the fastest-growing market in the world for physical security information management providers in the future. Growing emphasis on improving physical security owing to the rising incidence of break-ins and robberies in this region is projected to promote the adoption of physical security information management going forward. India, China, and Japan are estimated to emerge as the top markets for physical security information management companies in this region.
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Drivers
Rising Security Incidents and Threats
Regulatory Compliance
Restraints
Complex Operation and Deployment
High Costs of Integration and Implementation
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Physical security information management providers should focus on integrating advanced technologies to maximize the security of their solutions. Physical security information management companies should collaborate and partner with different physical security solution providers to simplify their integration and deployment processes to maximize revenue generation in the future.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, rising incidence of physical intrusions, high adoption of physical security solutions, and growing need for centralized security management solutions are slated to bolster the demand for physical security information management going forward. On the contrary, high costs of implementation and integration are estimated to hurt physical security information management market development across the forecast period and beyond. High spending on security allows North America to account for a major share of the global physical security information management market. Physical security information management companies can focus on integration of artificial intelligence and other advanced technologies to provide better features.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 3.44 Billion |
Market size value in 2032 | USD 5.03 Billion |
Growth Rate | 4.3% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Physical Security Information Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Physical Security Information Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Physical Security Information Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Physical Security Information Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45A2345
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