openPR Logo
Press release

Physical Security Information Management Market: Efficacy to Counter Cybercrime Boosts Adoption

Physical Security Information Management Market: Efficacy

Considering that top four companies in the global physical security information management (PSIM) market held 36% of the overall market in 2016, the said market is characteristic of a moderately consolidated vendor landscape. The top two players, namely NEC Corporation and Tyco International hold prominent position in the global market owing to their delivery and service expanse, especially to serve emerging economies such as India, China, and Brazil. Some other key vendors, namely CNL Software Ltd., Mer Inc., Vidsys Inc., Milestone Systems A/S, and Intergraph Corporation hold prominence due to their strong product portfolio.

Howbeit, domestic players hold prominence in local and regional markets making it difficult for large companies to serve these markets. In this scenario, large companies are adopting the inorganic growth route and thus vying to carry out mergers and acquisitions and strategic collaborations with small players to establish their foothold in regional pockets. The acquisition of Brazil-based Arcon Informatica S.A. by NEC Corporation in August 2016 is a case in point.

As per a market study by Transparency Market Research (TMR), the global PSIM market is predicted to expand at a solid 18.7% CAGR over the forecast period between 2016 and 2024. This will result for the market to become worth US$3,832.6 mn by the end of 2024 from a valuation of US$823.1 mn in 2015.

Request PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3077

By end user, the government and defense sector is the leading segment, and is anticipated to rise at a CAGR of 20% over the forecast period. The growth of this segment is mainly because of initiatives for the development of smart cities and safe city programs that have high dependability on PSIM software and services. The segment of educational institutions, religious buildings, and stadiums collectively account for substantial share in the overall market. PSIM software and services are deployed to counter threats posed by cybercrime and physical attacks at crowded places. Geography-wise, North America leads the overall market holding a significant portion of the pie.

Capability of Centralized Control of Disparate Security Systems Fuels Demand

The global demand for physical security information management solutions is on the rise owing to a number of factors. Among these, initiatives undertaken for the development of smart cities, especially in developing economies, and rising demand for centrally controlled disparate security systems are prominent ones.

Apart from this, rise in number of security breaches in organizations that handle, process, and manage critical business and consumer data is exhibiting demand for the deployment of several layers of security system. Physical security information management solutions display the capability to serve organizational security management requirements. PSIM solutions serve to provide efficient central control over disparate security systems, along with satisfactory level of security, remote monitoring, and accessibility of data across multiple sites. This is leading to their increased global demand.

High Cost Crimps Growth

There are factors challenging the PSIM market. High cost of PSIM solutions, along with increasing penetration of rival software solutions such as access control systems and video management systems are likely to hold back the growth of PSIM market.

Nevertheless, with increasing ubiquity of Internet of Things (IoT), the integration of IoT with PSIM leading to enhanced capability of the latter will serve to boost the PSIM market.

Report TOC: https://www.transparencymarketresearch.com/report-toc/3077

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniquesto develop distinctive data sets and research material for business reports.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Physical Security Information Management Market: Efficacy to Counter Cybercrime Boosts Adoption here

News-ID: 1155197 • Views: 722

More Releases from Transparency Market Research

Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals

All 5 Releases


More Releases for PSIM

Physical Security Information Management (PSIM) Market - Key Development by 2027
The Physical Security Information Management (PSIM) Market report categories the market by globally based on size, share, Revenue, key manufacturers, regions, type and application with in depth descriptions. The recent research report on the global Physical Security Information Management (PSIM) market presents the latest industry data and future trends, allowing you to recognize the products and end users driving Revenue growth and profitability of the market. The report offers an extensive
Physical Security Information Management (PSIM) System Market Growth by 2025
An extensive analysis of the Global Physical Security Information Management (PSIM) System market strategy of the leading companies in the precision of import/export consumption, supply and demand figures, cost, price, revenue and gross margins. The report starts by an introduction about the company profiling and a comprehensive review about the strategy concept and the tools that can be used to assess and analyze strategy. It also analyzes the company’s strategy
Physical Security Information Management (PSIM) Market Growth Estimates, Challen …
Qyresearchreports include new market research report Global Physical Security Information Management (PSIM) Market Size,Status and Forecast 2025 to its huge collection of research reports. The report on the global Physical Security Information Management (PSIM) market is extremely comprehensive and comprises of tables, charts, statistics, maps, and Graphics so as to give the readers a clear understanding in an easy manner regarding the growth prospects of the global Physical Security Information Management
Global PSIM Market Size, Status and Forecast 2022
This report on global PSIM market is a comprehensive study that takes account of the historical data, presents the current scenario, and predicts the future. The forecast period of the report is from 2017 to 2021. The report has been curated via extensive primary and secondary research, and is aimed at helping players in the global PSIM market to gain ground against their competitors. It also includes highly useful information
Global PSIM Market Size, Status and Forecast 2022
MarketResearchReports.Biz presents this most up-to-date research on "Global PSIM Market Size, Status and Forecast 2022" Description This report studies the global PSIM market, analyzes and researches the PSIM development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like CNL NICE Systems Tyco International Vidsys Axxon Soft Genetec Intergraph Milestone System PRYSM Software Verint Systems Market segment by Regions/Countries, this report covers United States EU Japan China India Southeast Asia Market segment by Type, PSIM can
Global PSIM Market Is Highly Demand In Future!!
Get a Sample of PSIM Market research report from – https://goo.gl/K1vnJo Big Market Research has added a report, titled, “Global PSIM Market Size, Status and Forecast 2022.” The report provides a detailed information and analysis of production, revenue, drivers & opportunities, key manufacturers, and competitive landscape. Furthermore, current market trends and growth opportunities are discussed along with extensive analysis of each segment for the historic period, 2012–2017 and