Physical Security Information Management Market Insights By Growth, Research Methodology, Emerging Trends and Forecast

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Japan, Japan, Thu, 14 Oct 2021 09:20:34 / Comserve Inc. / -- Physical Security Information Management Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The physical security information management market was valued at USD 495.73 million in 2019, and it is expected to reach USD 1151.93 million by 2025, registering a CAGR of 14.7% during the forecast period, 2020-2025. One of the major drivers of the market's growth includes increasing government initiatives for investment in safe city infrastructure in developing countries. The need for safe cities has resulted in the market offering security-related information onto a consolidated PSIM platform, which has been a clinical factor in the demand generation in the market.

- A growing need for centralized control of disparate security solutions for organizations drives the market. A rise in security breaches in organizations on a large-scale, across the world, is also expected to drive the market. About 291 records were stolen or exposed every single second in the first half of 2018, according to Gemalto's Breach Level Index.
- Video analytics, which is a critical component of the solutions offered by PSIM, is now embedded in the camera to retrieve video clips needed for post-incident investigations and facial recognition. The third-party vendors, analytics, and PSIM technologies comprise the end-user application. Moreover, embedding video analytics in camera can reduce operational costs and time.
- Physical security systems are increasingly adopting AI to achieve greater product differentiation in the market. For instance, in 2019, Evoteq and Johnson Controls combined their ICT capabilities to introduce an end-to-end integrated AI platform to create smart buildings and districts.

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Key Market Trends

Transportation and Logistics Have Significant Shares in the Market

- PSIM technology is being implemented in the transportation and logistics sector to handle security operations in complex environments, such as docks and ports, airports, and rail terminals. PSIM systems can effectively manage all the different sensor inputs from intruder detection systems, smoke alarms, and various other devices that are attached to the security network, both digital and analog.
- PSIM technology gathers and combines data to create a holistic overview of a security environment, along with the intelligence to control room operators. The rise in urbanization has increased traffic levels unprecedentedly. PSIM systems help governments and organizations in determining traffic conditions by analyzing the data from traffic cameras and roadside sensors, which is driving the market.
- Investment in intelligent transportation systems is expected to assist the PSIM market, as security remains a challenge to keep the infrastructure safe for long-term use. Moreover, with PSIM technology, it is possible to predict every possible combination of alarming situations or conditions that can occur on the road by analyzing the data from sensor inputs and applying analytics. Facial recognition and surveillance have become a norm to safeguard cities due to an increase in terror attacks globally, which is also driving the market.
- PSIM is also a vital cog in the development of the intelligent transpiration systems, which rely on intelligent infrastructure. PSIM systems can react to parameters, such as congestion levels, visibility levels between vehicles, surface temperatures, lane occupancy, and vehicle classifications, which are used in predicting disasters.

Europe to Hold the Largest Market Share

- Europe accounted for the largest share of the PSIM market. The United Kingdom witnessed many instances proving the need for PSIM platforms for investigating incidents in case of criminal activities.

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- For instance, in June 2019, the UK government unveiled a new security standard for surveillance cameras, with the view to combat attacks launched by infected camera systems, in a move that may propel the manufacturers of surveillance camera systems and components to ensure that surveillance equipment is secure against unauthorized access by default.
- Similarly, in August 2019, King's Cross estate in London admitted to using facial recognition technology, where it tracked thousands of people across the 67-acre development through CCTVs.
- In recent years, Germany witnessed an increase in the number of terror attacks, which forced the government to amend the existing regulations or bring about the new ones.
- For instance, in July 2019, the Hockenheimring motor racing circuit in Germany partnered with Bosch to protect the people and property at the events. Bosch implemented a state-of-the-art video security system, with more than 64 IP cameras that monitor the entrances and exits, the grandstands, and adjacent areas, as well as the entire racing circuit. All the cameras are networked via a central video management system.

Competitive Landscape

The physical security information management market is fragmented, owing to the presence of multiple players in the market. The solution provider is dependent on other value chain enablers, such as cloud service providers, which impacts their revenue aspects. Vendors with multiple functions and business units are better placed in the market, as they have an extended reach in the supply chain, which assists them in providing their services. Some key players in the market include Johnson Controls International PLC, CNL Software Ltd, and Genetec Inc.

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Government Initiatives for Smart Cities
4.2.2 Surging Demand for Sophisticated Organizational Security
4.3 Market Restraints
4.3.1 High Deployment and Integration Costs
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of COVID-19 on the Industry

5 MARKET SEGMENTATION

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