Physical Security Information Management (PSIM) Market size to grow by USD 3,143.5 million from 2022 to 2027|Need to mitigate criminal activities and terrorist attacks to drive the market - Technavio

NEW YORK, July 5, 2023 /PRNewswire/ -- The physical security information management (PSIM) market is set to grow by USD 3,143.5 million from 2022 to 2027, progressing at a CAGR of 21.31% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The major factor driving the PSIM market growth is the need to mitigate criminal activities and terrorist attacks. The threat of sophisticated offenses and terrorist activity is increasing all across the globe. The upsurge in terrorist attacks, particularly in nations such as the United States and the United Kingdom, necessitates the use of PSIM solutions. Generally, PSIM solution is used to curb illegal activities such as robbery, murder, robbery, and theft. Governments of several countries have stringent conditions to install PSIM solutions in public places such as hypermarkets, hospitals, airports, ports, train stations, hotels, shopping malls, etc., to mitigate criminal and terrorist activities by issuing regulations. Thus, the deployment of PSIM solutions will provide citizens with a safe and protected environment and enhance their quality of life. Also, PSIM solutions can be used to track and apprehend criminals and deliver definitive proof in court. Several vendors are developing solutions to determine crimes and illegal activities before they happen. Hence, the need to mitigate criminal activities and terrorist attacks will fuel the growth of the global PSIM market. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The physical security information management (PSIM) market covers the following areas:

• Physical Security Information Management (PSIM) Market Sizing
• Physical Security Information Management (PSIM) Market Forecast
• Physical Security Information Management (PSIM) Market Analysis

The report on the physical security information management (PSIM) market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

Physical Security Information Management (PSIM) Market 2023-2027 - Market Dynamics

Significant Trends

Integration of IoT with physical security is an emerging trend supporting the PSIM market growth. IoT is an advanced technology that makes physical objects accessible over the internet and it connects objects ranging from microcontrollers with sensors to devices with processors. Moreover, these devices are integrated in ways suitable for real-time data collection and analysis. Hence, it connects objects or things that can be accessed anytime, anywhere, and is further used in wireless video surveillance for capturing videos and transmitting them to devices over the wireless network. This helps in getting rapid reactions to real-time decision-making. The rising demand for enhancing the efficiency of facilities such as waste management plants, energy plants, and water management plants will account for the growing installation of IoT-based physical security devices. Therefore, IoT is anticipated to affect the way in which these enterprises implement PSIM solutions, and it will make video surveillance and commercial systems more interactive, which will assist in better communication with all PSIM solutions.

Major Challenges 

The major challenge hindering the PSIM market growth is the infrastructural requirements. Deploying a PSIM solution needs well-developed infrastructure such as bandwidth, video cameras, biometric data collection devices, and storage. Moreover, video surveillance generates a huge set of video data that must be stored and archived, and also, the origin of 4K recording has put pressure on storage systems. Storage solutions must also be scalable according to the demand for PSIM and the volume of surveillance data with high quality and reliability. The effective implementation of PSIM solutions required adequate bandwidth, particularly due to the introduction of specialized cameras that generate 4K and ultra-high-definition video content, which must be transferred and archived. Thus, the transmission of high volumes of data needs high bandwidth. However, poor network connectivity, especially in developing and underdeveloped countries, lowers the availability of high bandwidth, which impacts data transmission. Connectivity issues in information and communications technology infrastructure can decrease the operational performance of PSIM solutions and thereby impede the PSIM market growth during the forecast period.

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Physical Security Information Management (PSIM) Market 2023-2027: Market Segmentation

The physical security information management (PSIM) market segmentation by end-user (power/energy and utility, transportation, commercial, government and defense, and others), solution (software and services), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

· The market share growth by the power/energy and utility segment will be significant during the forecast period. The high digitization and strict regulatory standards, such as the Health, Safety, and Environment (HSE) standards, are propelling the adoption of PSIM in the power, energy, and utility (PEU) sectors to satisfy the regulatory conditions. The sectors such as power, energy, and utilities use PSIM to keep employees safe and address hazards such as fire, radiation, and explosions at manufacturing sites. Also, it provides real-time data without the need for human intervention at the critical job site. Due to the presence of significant oil and gas industries, the Middle East and APAC are the largest contributors to this segment. Furthermore, the development of new power generation infrastructure is anticipated to boost the growth of this segment over the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report 

Companies Mentioned

• Advancis Software and Services GmbH
• AxxonSoft Inc.
• Carrier Global Corp.
• easyPSIM AG
• Everbridge Inc.
• Genetec Inc.
• Hexagon AB
• Johnson Controls International Plc.
• Kentima AB
• LG Corp.
• Milestone systems AS
• Nanodems Corp.
• NAUTA SOLUCOES SEGURANCA LDA.
• NICE Ltd.
• Powersim Inc.
• Powersys Solutions
• Robert Bosch GmbH
• Siemens AG
• Verint Systems Inc.
• Vidsys Inc.

Vendor Offerings

• easyPSIM AG - The company offers physical security information management, which focuses on the end-to-end integration of security technologies, providing a whole-solution approach to security operations.
• AxxonSoft Inc. - The company offers physical security information management software which can help to consolidate all security systems to deliver enhanced visibility along with streamlined management and information reporting.
• Carrier Global Corp. - The company offers physical security information management, which connects security systems, sensors, and data within a single intuitive interface.

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The security information and event management market is estimated to grow at a CAGR of 9.87% between 2022 and 2027. The size of the market is forecast to increase by USD 3,416.2 million. This report extensively covers market segmentation by deployment (on-premise and saas-based), end-user (government, BFSI, telecom, healthcare, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increase in cybercrime is a key factor driving the growth of the global SIEM market.

The information security products and services market is estimated to grow at a CAGR of 17.36% between 2022 and 2027. This report extensively covers market segmentation by deployment (on-premise and cloud), type (hardware, software, and services), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The increase in the number of smart connected devices is notably driving the information security products and services market growth.

Key Topics Covered:

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Solution
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global physical security information management (PSIM) market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global physical security information management (PSIM) market 2017 - 2021 ($ million)

• 4.2 By end-user Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – By end-user Segment 2017 - 2021 ($ million)

• 4.3 By Solution Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – By Solution Segment 2017 - 2021 ($ million)

• 4.4 By Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – By Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Power/energy and utility - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Power/energy and utility - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Power/energy and utility - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Power/energy and utility - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Power/energy and utility - Year-over-year growth 2022-2027 (%)

• 6.4 Transportation - Market size and forecast 2022-2027
• Exhibit 38: Chart on Transportation - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Transportation - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Transportation - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Transportation - Year-over-year growth 2022-2027 (%)

• 6.5 Commercial - Market size and forecast 2022-2027
• Exhibit 42: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Commercial - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

• 6.6 Government and defense - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Government and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Government and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Government and defense - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Government and defense - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)
• Exhibit 55: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Solution

• 7.1 Market segments 
• Exhibit 56: Chart on Solution - Market share 2022-2027 (%)
• Exhibit 57: Data Table on Solution - Market share 2022-2027 (%)

• 7.2 Comparison by Solution 
• Exhibit 58: Chart on Comparison by Solution
• Exhibit 59: Data Table on Comparison by Solution

• 7.3 Software - Market size and forecast 2022-2027
• Exhibit 60: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.4 Services - Market size and forecast 2022-2027
• Exhibit 64: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Solution 
• Exhibit 68: Market opportunity by Solution ($ million)
• Exhibit 69: Data Table on Market opportunity by Solution ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 83: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 107: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027
• Exhibit 111: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 AxxonSoft Inc. 
• Exhibit 123: AxxonSoft Inc. - Overview
• Exhibit 124: AxxonSoft Inc. - Product / Service
• Exhibit 125: AxxonSoft Inc. - Key offerings

• 12.4 Carrier Global Corp. 
• Exhibit 126: Carrier Global Corp. - Overview
• Exhibit 127: Carrier Global Corp. - Business segments
• Exhibit 128: Carrier Global Corp. - Key news
• Exhibit 129: Carrier Global Corp. - Key offerings
• Exhibit 130: Carrier Global Corp. - Segment focus

• 12.5 easyPSIM AG 
• Exhibit 131: easyPSIM AG - Overview
• Exhibit 132: easyPSIM AG - Product / Service
• Exhibit 133: easyPSIM AG - Key offerings

• 12.6 Everbridge Inc. 
• Exhibit 134: Everbridge Inc. - Overview
• Exhibit 135: Everbridge Inc. - Business segments
• Exhibit 136: Everbridge Inc. - Key offerings
• Exhibit 137: Everbridge Inc. - Segment focus

• 12.7 Genetec Inc. 
• Exhibit 138: Genetec Inc. - Overview
• Exhibit 139: Genetec Inc. - Product / Service
• Exhibit 140: Genetec Inc. - Key offerings

• 12.8 Hexagon AB 
• Exhibit 141: Hexagon AB - Overview
• Exhibit 142: Hexagon AB - Business segments
• Exhibit 143: Hexagon AB - Key news
• Exhibit 144: Hexagon AB - Key offerings
• Exhibit 145: Hexagon AB - Segment focus

• 12.9 Johnson Controls International Plc.
• Exhibit 146: Johnson Controls International Plc. - Overview
• Exhibit 147: Johnson Controls International Plc. - Business segments
• Exhibit 148: Johnson Controls International Plc. - Key news
• Exhibit 149: Johnson Controls International Plc. - Key offerings
• Exhibit 150: Johnson Controls International Plc. - Segment focus

• 12.10 Kentima AB 
• Exhibit 151: Kentima AB - Overview
• Exhibit 152: Kentima AB - Product / Service
• Exhibit 153: Kentima AB - Key offerings

• 12.11 Milestone systems AS 
• Exhibit 154: Milestone systems AS - Overview
• Exhibit 155: Milestone systems AS - Product / Service
• Exhibit 156: Milestone systems AS - Key offerings

• 12.12 NAUTA SOLUCOES SEGURANCA LDA. 
• Exhibit 157: NAUTA SOLUCOES SEGURANCA LDA. - Overview
• Exhibit 158: NAUTA SOLUCOES SEGURANCA LDA. - Product / Service
• Exhibit 159: NAUTA SOLUCOES SEGURANCA LDA. - Key offerings

• 12.13 NICE Ltd. 
• Exhibit 160: NICE Ltd. - Overview
• Exhibit 161: NICE Ltd. - Business segments
• Exhibit 162: NICE Ltd. - Key news
• Exhibit 163: NICE Ltd. - Key offerings
• Exhibit 164: NICE Ltd. - Segment focus

• 12.14 Robert Bosch GmbH 
• Exhibit 165: Robert Bosch GmbH - Overview
• Exhibit 166: Robert Bosch GmbH - Business segments
• Exhibit 167: Robert Bosch GmbH - Key news
• Exhibit 168: Robert Bosch GmbH - Key offerings
• Exhibit 169: Robert Bosch GmbH - Segment focus

• 12.15 Siemens AG 
• Exhibit 170: Siemens AG - Overview
• Exhibit 171: Siemens AG - Business segments
• Exhibit 172: Siemens AG - Key news
• Exhibit 173: Siemens AG - Key offerings
• Exhibit 174: Siemens AG - Segment focus

• 12.16 Verint Systems Inc. 
• Exhibit 175: Verint Systems Inc. - Overview
• Exhibit 176: Verint Systems Inc. - Product / Service
• Exhibit 177: Verint Systems Inc. - Key offerings

• 12.17 Vidsys Inc. 
• Exhibit 178: Vidsys Inc. - Overview
• Exhibit 179: Vidsys Inc. - Product / Service
• Exhibit 180: Vidsys Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

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