The Global Physical Security Information Management Market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of 34.41% during the forecast period of 2017 – 2022. Physical Security Information Management (PSIM) system is a software that is utilized for systematizing and improving operations for physical security management and reporting. It is intended to assimilate security applications via one common user interface. Situations are proactively resolved by collecting events from obtainable information and security devices and linking them to empower personnel. This system needs integration and coordination of technologies with the information technology processes that administer the management of administrative data. PSIM helps in enhancing security services and efficiency for better accountability. Collection, analysis, verification, resolution, reporting and audit trail are some of the capabilities of a complete PSIM software system.
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The main benefit in executing PSIM based integration is that it is able to link systems at data level which includes CCTV-Closed Circuit Television, fire detection systems, video content analysis, access control systems, security alarms and others. It also allows a greater degree of interoperability and is very beneficial in network based connectivity.
PSIM solutions are used for different industry verticals. In infrastructure sector, PSIM system is used to improve security of assets that are widely isolated and control mobile applications. It decreases response time, improves security, supports regulatory compliances and produces staffing efficiencies.
In commercial sector, PSIM system overpowers challenges faced by enterprises like information overload, enforcing steady security policies and integrating and distributing info. It provides a broad approach to defending and managing people, data equipment and inventory. In government facilities, it is used for recognizing and handling situations prior to an emergency arises and imposing steady application of security standards.
PSIM system is also employed in law enforcement and emergency response management in guarding citizens and assets. It shares data across jurisdictions and establishments, delivers responders with vital information and ensures right resources at the needed location.
Read more details of the report at: Global Physical Security Information Management Market By Application, Geography, Trends, Forecast (2017-2022)
Business organizations taking strategic decisions need huge and exact data. These strategic decisions are taken after analysing this huge data. PSIM systems support organizations in taking strategic decisions by risk data and sharing security that business executives can understand. This is a factor that leads to the progress of PSIM market. Another factor is the regulatory compliance bodies like International Organization for Standardization that orders data and computer systems be handled in standardized ways. These compliances are best followed by using the PSIM platform. Other drivers include reducing costs of networking systems that boosts the operation of PSIM and adoption of software and networking systems for carrying out critical functions. However, augmented use of virtual machines leads to augmented use of Linux operating system which is a competing technology and is attaining popularity due to its affordability feature. This is hindering the growth of PSIM market.
Market segmentation is done on the basis of applications into various sectors which include infrastructure sector, government facilities, commercial sector, law enforcement and emergency response management system, healthcare and education sector.
Major players in the market are Milestone Systems A/S, CNL Software Ltd, Tyco International Limited, VidSys Inc, NICE Systems Ltd Genetec, Mer Inc, AxxonSoft Ltd, S2 Security Corporation, Verint Systems, Intergraph Corporation and videoNEXT Network Solutions Inc among others.
Key Points Covered in Global Physical Security Information Management Market Report:
Market Overview & Dynamics
Porter's Five Forces Analysis
Market Segmentation, By Region
Future of Global Physical Security Information Management Market
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