NEW YORK, June 24, 2022 /PRNewswire/ — The Physical Security Information Management (PSIM) Market size is expected to grow by USD 3.21 billion. The growth momentum of the market will progress at a CAGR of 22.15% during the forecast period. The report extensively covers physical security information management (PSIM) market segmentation by end-user (PEU, transportation, commercial, government and defense, and others) and geography (North America, Europe, APAC, MEA, and South America).
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Company Profiles
The physical security information management (PSIM) market report provides complete insights on key vendors, including AxxonSoft Inc., Everbridge Inc., Genetec Inc., Hexagon AB, Johnson Controls International Plc, NICE Ltd., Robert Bosch GmbH, Siemens AG, Verint Systems Inc., and Vidsys Inc. The key offerings of some of these vendors are listed below:
- AxxonSoft Inc. – The company offers physical security information management software named Intellect.
- Everbridge Inc. – The company offers physical security information management through its Control center, with benefits such as real-time situational awareness and others.
- Genetec Inc. – The company offers physical security information management software named Genetec ClearID.
- Hexagon AB – The company offers physical security information management software named Intergraph Security.
- Johnson Controls International Plc – The company offers physical security information management such as Access Control and others.
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Market Dynamics
Physical security information management market growth is primarily driven by the need to reduce criminal activity and terrorist attacks. The growth of the physical security information management market is significantly influenced by the integration of IoT with physical security. Physical security information management (PSIM) market growth, however, will face significant infrastructure challenges during the projection period.
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Parent Market Analysis
Technavio categorizes the global physical security information management (PSIM) market as a part of the global application software market within the global information technology market.
The value chain of the global application software market includes the following core components: