Physical Security Information Management Market: Technological breakthroughs, Value chain and stakeholder analysis by 2024

This report provides an analysis of the global physical security information management (PSIM) market for the period from 2014 to 2024, wherein the period from 2016 to 2024 comprises the forecast period and 2015 is the base year. Data for 2014 is provided as historical information. The report covers all the prominent trends and technologies playing a major role in the growth of the PSIM market over the forecast period.

It also highlights various drivers, restraints, and opportunities expected to influence the market’s growth during this period. The study provides a holistic perspective of the growth of the PSIM market throughout the forecast period in terms of revenue estimates (in US$ Mn), across Asia Pacific (APAC), South America, North America, Europe, and Middle East & Africa (MEA). The report provides analysis of the global PSIM market in terms of market estimates and forecasts for all the segments across different geographic regions.

The demand for effective physical security information management solutions and services has significantly increased globally in the past few years, owing chiefly to the rising demand for centralized control over disparate security systems across several industries. The growing deployment of PSIM solutions and services has led to an increased presence of pure PSIM vendors, system integrators, and third party vendors across the world. Due to this PSIM software and service providers are facing strong competition in global market.

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Accounting for a share of 11.6% in 2015, the government and defense sector held the dominant position in the global PSIM market and is expected to grow at an exponential CAGR of nearly 20% during forecast period. The rising focus on the development of smart cities and government initiatives such as safe city programs are anticipated to contribute in the growing adoption of PSIM software and services across the world.

The segment of educational institutions, religious buildings, and stadiums collectively held the second leading position in the global PSIM market with a share of around 10.0% in 2015. This is linked to the rising cyber and physical security threats posed by terrorists and illegal organizations around the globe.

Over the next few years, the segment of transportation and logistics is expected to generate high demand for PSIM software and services due to increasing need for security and monitoring of transportation activities. Furthermore, transportation and logistics companies are deploying PSIM solutions to secure duty-free areas and critical infrastructures.

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The increasing deployment of PSIM software across a large number of industries is a key factor driving strong growth of the PSIM market in North America. Moreover, the robust presence of PSIM vendors and system integrators is also leading to the increased adoption of PSIM software and services in the region. The PSIM market in North America is expected to expand at an 18.3% CAGR over the period between 2016 and 2024. The PSIM markets in Europe and Asia Pacific, on the other hand, are expected to marginally outpace North America, with an 18.7% and 19.3% CAGRs over the same period, respectively.

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