PHYSICAL SECURITY INFORMATION MANAGEMENT MARKET ANALYSIS

Physical Security Information Management MarketSize and Trends

The global Physical Security Information Management Market was accounted for US$ 1,626.3 Mn in terms of value in 2019 and is expected to grow at CAGR of 18.7% for the period 2019-2027.

Market Trends

1. Growing focus on empowering security personnel can offer major growth opportunities

Situational awareness and situation management are major focus areas of organizations. Many enterprises are providing high-quality performance in security applications. Moreover, provision of mobile and centralized applications have enabled organizations to deliver an effective method for security personnel and field employees to handle situations and incident with organizations’ best practices.

2. Increasing emphasis on safe city projects

Many city governments across the globe are focused on adopting PSIM solutions for high-security applications namely safe city programs and critical infrastructure protection. Moreover, emphasis on the development of smart cities in emerging economies is increasing. Similarly, city administrations, governments, and the defense sector are investing and deploying centralized security systems namely PSIM for efficient management of security incidents and response management to these situations. For instance, New York City’s Department of Information Technology and Telecommunications (DoITT) has integrated its Emergency Communications Transformation Program (ECTP) with PSIM solutions for enhanced public safety call recording and incident management.