Physical Security Information Management Market Size, Share, Growth Analysis, By Offering(Software (Access Control, Video Management, Intrusion Detection Management, Fire Safety & Alarms), By Deployment Mode(On-Premises, Cloud), By Organization Size(SMEs, Large Enterprises), By Vertical(BFSI, IT & ITeS, Government, Healthcare), By Region - Industry Forecast 2024-2031

Drivers

Rising Security Incidents and Threats

• Physical intrusions, vandalism, and terrorist activities around the world are increasing at a rapid pace and this has led to high demand for advanced physical security measures. Growing use of physical security systems is also slated to boost the demand for physical security information management in the future.

Regulatory Compliance

• Governments and regulatory authorities around the world are mandating the use of physical security systems through imposition of stringent regulations. Compliance with these norms is necessary and therefore slated to benefit physical security information management sales as well.

Restraints

Complex Operation and Deployment

• Physical security information management solutions require a set of skilled professionals to manage the solution as it has many aspects such as incident management, event correlation, workflow automation, and data aggregation. These processes and multiple professional requirements complicate the deployment and operations thereby slowing down market growth.

High Costs of Integration and Implementation

• Integrating physical security information management with different security systems and solutions is a highly complex task and requires a lot of financial resources. This increased capital expenditure for implementation and integration is projected to hurt physical security information management demand outlook.