Physical Security Information Management Market Size, Share, Forecasts Analysis, Company Growth, Company Profiles and Key Regions 2019 - 2027
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Physical security information management collects and correlates events from disparate security devices and information systems such as sensors, access control, video, analytics, networks, and building systems to enable individuals to precisely identify and resolve situations. Physical security information management software integration also provides many organisational benefits for both the public sector and private sector organisations, such as improved control, situation awareness, and management reporting.
Increased security breaches in organisations on a global scale are expected to drive demand for PSIM software. Current market trends influencing the market in the coming years include the increased use of IP-based cameras for video surveillance, technological advancements, and the deployment of wireless technology in security systems. However, the high cost of deploying PSIM solutions is expected to stymie the Physical security information management market's growth. Adoption of IoT-based security systems with cloud computing platforms, as well as the 'as-a-service' model, on the other hand, are opportunistic factors for the physical security information management market.
The widespread use of PSIM in emerging economies is expected to drive growth in the global physical security information management market over the forecast period. Many emerging economies are implementing PSIM solutions in response to rising demand for enhanced security systems that can identify and correct intrusions quickly. Furthermore, this demand is growing as organisations face more hybrid cyber/physical threats. As a result, these factors are expected to support the growth of the global physical security information management market over the forecast period.
The lack of competitive security solutions is expected to stymie the global physical security information management market's growth. Despite the fact that PSIM provides advanced security solutions to industries, penetration of these systems continues. Other competing security systems, such as video management systems (VMS) and access control systems (ACS), are widely used around the world and are expected to limit market growth. This is because VMS solutions provide integration capabilities.
The key players operating in the global physical security information management market area Mer, Inc., AxxonSoft, NEC Corporation, Genetec, Inc., CNL Software Ltd., Milestone Systems A/S, VidSys, Inc., S2 Security Corporation, Tyco International Ltd. (Proximex Corporation), videoNEXT Federal, Inc., NICE Systems Ltd., and Intergraph Corporation.
Increased security breaches in organisations on a global scale are expected to drive demand for PSIM software. Current market trends influencing the market in the coming years include the increased use of IP-based cameras for video surveillance, technological advancements, and the deployment of wireless technology in security systems. However, the high cost of deploying PSIM solutions is expected to stymie the Physical security information management market's growth. Adoption of IoT-based security systems with cloud computing platforms, as well as the 'as-a-service' model, on the other hand, are opportunistic factors for the physical security information management market.
The widespread use of PSIM in emerging economies is expected to drive growth in the global physical security information management market over the forecast period. Many emerging economies are implementing PSIM solutions in response to rising demand for enhanced security systems that can identify and correct intrusions quickly. Furthermore, this demand is growing as organisations face more hybrid cyber/physical threats. As a result, these factors are expected to support the growth of the global physical security information management market over the forecast period.
The lack of competitive security solutions is expected to stymie the global physical security information management market's growth. Despite the fact that PSIM provides advanced security solutions to industries, penetration of these systems continues. Other competing security systems, such as video management systems (VMS) and access control systems (ACS), are widely used around the world and are expected to limit market growth. This is because VMS solutions provide integration capabilities.
The key players operating in the global physical security information management market area Mer, Inc., AxxonSoft, NEC Corporation, Genetec, Inc., CNL Software Ltd., Milestone Systems A/S, VidSys, Inc., S2 Security Corporation, Tyco International Ltd. (Proximex Corporation), videoNEXT Federal, Inc., NICE Systems Ltd., and Intergraph Corporation.
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