Wilmington, Delaware, Oct. 17, 2023 (GLOBE NEWSWIRE) --
Global Physical Security Information Management Market valued at US$ 11.5 billion in 2023 and is expected to grow at a significant CAGR of over 5.5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The Physical Security Information Management (PSIM) market is influenced by several drivers that contribute to its growth and adoption. These drivers reflect the increasing need for advanced security management solutions and the evolving threat landscape. Escalating security threats, both physical and cyber, have prompted organizations to invest in comprehensive security solutions. PSIM systems offer a centralized platform to monitor and respond to various security events, enhancing overall security.
Further, Organizations use a variety of security technologies such as video surveillance, access control, alarm systems, and sensors. PSIM solutions allow for the integration of these disparate systems into a single, unified platform, providing a more efficient and effective security management approach.
Organizations are increasingly looking for integrated security solutions that can help them to manage their disparate security systems more effectively. PSIM solutions can help organizations to integrate their video surveillance, access control, intrusion detection, and other security systems into a single platform. This allows organizations to improve their visibility into their security posture and respond to incidents more quickly and effectively.
- According to a deep-dive market assessment by RationalStat, the global physical security information management has been analyzed on the basis of market segments, including type, crop type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global physical security information management covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global physical security information management. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Physical Security Information Management Market: Segmental and Market Share Analysis
- On the basis of type, the cloud-based segment is dominating the global Physical Security Information Management market. Cloud-based PSIM solutions typically have lower upfront costs than on-premises solutions, as organizations do not need to purchase and maintain their own hardware and software.
- Based on application, the Government & Defense segment is dominating the global Physical Security Information Management (PSIM) market. Governments and defense organizations are responsible for protecting critical infrastructure, such as power plants, airports, and military bases. PSIM solutions can help governments and defense organizations to protect this infrastructure by providing them with a centralized view of their security posture and by helping them to respond to incidents more quickly and effectively
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 7.9 billion |
| Market Size Forecast | US$ 11.5 billion |
| Growth Rate | 5.5% |
| Key Market Drivers |
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| Dominating Region |
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| Dominating Segment |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global physical security information management include,
- In December 2022, Hexagon strengthens its physical security and incident management capabilities with the acquisition of Qognify, a leading provider of physical security and enterprise incident management software solutions.
Some of the prominent players and suppliers operating and contributing significantly to the global physical security information management growth include NICE Ltd, Robert Bosch GmbH, Hexagon AB, Johnson Controls International Plc, Genetec Inc, CNL Software Ltd., NEC Corp, Vidsys Inc, Verint Systems Inc, Salient Systems, Irisity, OnSSI, NICE Systems, LenelS2, Eagle Eye Networks, and Cloudastructure, among others.
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RationalStat has segmented the global physical security information management market based on type, application, and region.
- Global Physical Security Information Management Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Cloud Based
- On-Premises
- Global Physical Security Information Management Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Banking, Financial Services and Insurance (BFSI)
- Energy & Utilities
- Government & Defense
- Transportation & Logistics
- Retail
- Others
- Global Physical Security Information Management Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Physical Security Information Management Market
- US
- Canada
- Latin America Physical Security Information Management Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Physical Security Information Management Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Physical Security Information Management Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Physical Security Information Management Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Physical Security Information Management Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Physical Security Information Management Market
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Key Questions Answered in the Physical Security Information Management Report:
- What will be the market value of the global physical security information management by 2030?
- What is the market size of the global physical security information management?
- What are the market drivers of the global physical security information management?
- What are the key trends in the global physical security information management?
- Which is the leading region in the global physical security information management?
- What are the major companies operating in the global physical security information management?
- What are the market shares by key segments in the global physical security information management?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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