The global physical security information management (PSIM) market, valued at approximately $1.63 billion in 2019, is projected to grow at a CAGR of 18.7% from 2019 to 2027, driven by increasing demand for centralized security systems across various industries. Geographic adoption is led by North America, while emerging economies are rapidly adopting PSIM to enhance security and control over vulnerabilities. However, high deployment costs and competition from other security solutions may hinder growth, although opportunities exist through integration with IoT and AI technologies.

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2. PHYSICAL SECURITY
INFORMATION MANAGEMENT
MARKET ANALYSIS
• Physical Security Information Management Market, by
Component (Software (Off the Shelf(On Premise and
Cloud Based) and Customized(On Premise and Cloud
Based)) and Service (Installation/ System Integration,
Operation and Maintenance and Consulting and
Training)), by End-Use Industry (Residential, Retail,
BFSI, Telecom and IT, Transportation and Logistics,
Government and Defense Sector, Hospitality, Industrial,
Manufacturing, Energy and Utility, Healthcare and
Others), and by Region (North America, Latin America,
Europe, Asia Pacific, Middle East and Africa) - Size,
Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. • Market Overview
• Physical security information management (PSIM) is a type of software
that provides platforms and applications created by middleware
developers. It is designed to incorporate several unconnected security
applications and devices and control them through one robust user
interface. The government of various countries and defense sector is
implementing PSIM solutions, in order to lay emphasis on crime
reduction, desire to attain centralized control for safety and
management of security incidents, and rising need to secure cities.
PSIM offers improved operational efficiency, lower response time for
management of security events, and quicker threat detection.
Transpiration and logistics industry is predominantly adopting PSIM, in
order to secure and monitor transportation activities. Moreover, PSIM
systems are deployed at airports to provide protection for duty-free
areas and important infrastructure.
• The global Physical Security Information Management Market was
accounted for US$ 1,626.3 Mn in terms of value in 2019 and is
expected to grow at CAGR of 18.7% for the period 2019-2027.

4. • Market Dynamics- Drivers
• Rising demand for centralized security systems is expected to drive growth of the global physical
security information management market during the forecast period
• Increasing incidences of security breaches have increased the demand for enhanced and effective operational
control over disparate physical security systems. Many large organizations are deploying complex security
systems due to a lack of communication with other systems. Furthermore, many organizations are focused on
the development of centralized security, in order to achieve consistent levels of security, accessibility across all
sites, and enhanced remote monitoring. For instance, in July 2016, the City of Cleveland, Ohio, the U.S.
deployed converged security and information management software developed by Vidsys, Inc. based in Vienna,
Virginia, the U.S. to secure the city during the Republican National Convention event. This security management
platform would enable the city to create a video database for real-time updates across multiple locations.
• High adoption of PSIM across emerging economies is expected to propel the global physical security
information management market growth over the forecast period
• Many emerging economies are adopting PSIM solutions, owing to rising demand for enhanced security systems
to minimize vulnerabilities and efficiently identify and rectify intrusions. Moreover, this demand is increasing
due to a rise in hybrid cyber/physical threats faced by organizations. Thus, these factors are expected to support
the global physical security information management market growth over the forecast period.
• North America region dominated the global Physical Security Information Management Market in 2019,
accounting for 34.0% share in terms of value, followed by Europe, Asia Pacific, Middle East and Africa and
Latin America.

6. • Market Dynamics- Restraints
• High cost related to the deployment of PSIM solutions is expected to
hamper the global physical security information management market
growth over the forecast period
• For efficient and effective deployment of PSIM systems, a security system that
supports PSIM is required. The standalone security system requires updates, in
order to implement the PSIM solution. Since the cost of updating these
security systems is high, which discourages end users to adopt PSIM solutions,
especially small and medium-sized enterprises. Thus, these factors are
expected to hamper the market growth over the forecast period.
• Availability of competitive security solutions is expected to hinder
growth of the global physical security information management market
• Although PSIM offers advanced security solutions to industries, the
penetration of these systems is still ongoing. Other competitive security
systems such as video management systems (VMS) and access control systems
(ACS) are majorly adopted across the globe and expected to restrict the market
growth. This is owing to integration capabilities offered by VMS solutions.

7. Market Opportunities
Integration of PSIM with the Internet of Things (IoT) can provide major
business opportunities
Internet of Things (IoT) is an evolving and cutting-edge technology that helps to
send and receive data from internet-enabled devices. Integrating PSIM with IoT
presents lucrative opportunities to extend solution and service offerings and
develop enhanced security solutions. Moreover, integration of IoT with PSIM
would offer advanced connectivity to disparate security systems such as sensors
video surveillance cameras, access control systems, and other security systems such
as alarm systems, and deliver enhanced security management platforms.
Use of AI to boost surveillance can present lucrative growth opportunities in
the near future
Artificial intelligence is another evolving technology that can open new avenues for
solutions providers. AI can be used to enhance surveillance process, thereby
improving overall security and reduce breaches. Furthermore, AI can reduce cost
required for deployment of PSIM solutions as well as human errors.

9. Market Trends
Growing focus on empowering security personnel can offer major growth
opportunities
Situational awareness and situation management are major focus areas of organizations. Many
enterprises are providing high-quality performance in security applications. Moreover,
provision of mobile and centralized applications have enabled organizations to deliver an
effective method for security personnel and field employees to handle situations and incident
with organizations’ best practices.
Increasing emphasis on safe city projects
Many city governments across the globe are focused on adopting PSIM solutions for high-
security applications namely safe city programs and critical infrastructure protection.
Moreover, emphasis on the development of smart cities in emerging economies is increasing.
Similarly, city administrations, governments, and the defense sector are investing and deploying
centralized security systems namely PSIM for efficient management of security incidents and
response management to these situations. For instance, New York City’s Department of
Information Technology and Telecommunications (DoITT) has integrated its Emergency
Communications Transformation Program (ECTP) with PSIM solutions for enhanced public
safety call recording and incident management.

10. Regulations
Europe
•Europe has critical infrastructure protection policies and critical information infrastructure
policies to enhance the operational focus on security-related concerns
•In Europe, a number of initiatives are developed for addressing security of public electronic
communication networks and services. Moreover, European Programme for Critical
Infrastructure Protection (EPCIP) has been developed for effective implementation of security
policies.
Value Chain Analysis
The PSIM ecosystem is mainly divided into three models: vendors, system integrators, and end-
users
•Vendors:
• Some of the vendors are delivering complete PSIM solutions and services,
including customized and off-the-shelf (COTS) products to the industries.
These vendors include standalone PSIM solution and service providers,
PSIM integration providers and third-party solution providers. Standalone
PSIM vendors provide complete services and solutions from requirement
gathering to the maintenance of PSIM systems after deployment. Moreover,
the integration of existing security systems such as access control, sensors,
video management systems and others with PSIM systems is implemented
by these vendors. Many PSIM vendors partner with system integrators to
deliver best-fit solutions to the businesses. Thus, PSIM vendors can deliver
their solution to the businesses through system integrators or third-party
vendors or directly to the customers.

11. •System Integration:
• System integrators are trusted advisors in this value chain who
have expertise in security sub-systems. System integrators
delivers the required PSIM solutions to the customers directly or
from vendors to the businesses. System integrators analyze the
existing system environment to identify the integration
requirements and evaluate security operations to identify strategic
plans, procedures, and security policies for the deployment of
complete situation management solutions. System integrators or
third-party vendors deploy PSIM solutions from vendors to their
customers. Similarly, system integrators can further take solutions
from other system integrators or third-party vendors for the
deployment of PSIM.
•Application/ End-users:
• For deployment, end-users analyze the security requirements for
new solutions or integrated solutions for their existing systems,
and implement PSIM solutions by contacting PSIM vendors
directly or through system integrators or third-party vendors
Between the forward and backward integration scenarios, the forward
scenario is often adopted for the implementation of PSIM solutions
across various industries.

13. Segment information:
In global physical security information management Market, by
Component, Software sub-segment dominated the global market in 2019,
accounting for 56.2% share in terms of value, followed by Service.
Competitive Section
Key players operating in the global physical security information management
market area Mer, Inc., AxxonSoft, NEC Corporation, Genetec, Inc., CNL Software
Ltd., Milestone Systems A/S, VidSys, Inc., S2 Security Corporation, Tyco
International Ltd. (Proximex Corporation), videoNEXT Federal, Inc., NICE
Systems Ltd., and Intergraph Corporation.
Key Developments
Key companies in the market are focused on partnerships and collaborations, in
order to enhance the market presence. For instance, in September 2019, CNL
Software, a U.K.-based PSIM solutions provider, partnered with Cepton
Technologies to boost automation of threat detection, tracking, and escalation in
real-time using the latest PSIM.
Major companies in the market are involved in product launches, in order to expand
the product portfolio. For instance, in January 2020, VidSys, Inc. introduced the
latest version of its security software platform named ‘VidSys Enterprise 2020 R1.0.’

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Reference:https://www.coherentmarketinsights.com/market-
insight/physical-security-information-management-market-
3638

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