Global Physical Security Information Management Market 2016-2020
About Global Physical Security Information Management (PSIM)
In the physical security market, the speed at which information is delivered is a critical element. Global PSIM deployments will increase rapidly as the solution enables faster transfer of critical information and easy access to information during emergencies.
During public events, security operators should have fast and reliable access to relevant security assets and related information. Failing to deliver important information could lead to disasters, leaving people and their surroundings in danger.
Technavio’s analysts forecast the global physical security information management market to grow at a CAGR of 14.82% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global physical security information management market 2016-2020. To calculate the market size, the report considers the revenue generated from the generated from the worldwide sales of PSIM software and services.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Physical Security Information Management Market 2016-2020
Technavio recognizes the following companies as the key players in the global physical security information management market: CNL Software, Qognify, Tyco International, and VidSys.
Other Prominent Vendors in the market are: AxxonSoft, Genetec, Intergraph, Kentima, Mer, Milestone Systems, Verint Systems, and videoNEXT Network Solutions.
Commenting on the report, an analyst from Technavio’s team said: “Integration of social media into PSIM will be a major trend in this market. Social media has given the PSIM operator a new source of data. Social media keyword prevalence, account management, and hashtag monitoring can give the PSIM operator a direct connection with people and their daily activities. Social media platforms such as Facebook, Twitter, and LinkedIn are often referred to as “social data conduits” in the security industry. They offer information streams that can be integrated into the real-time framework of PSIM platforms.”
According to the report, one driver leading to the growth of this market is the use of mobile technology in PSIM. Mobile technology in PSIMs is likely to become mainstream as users become more accustomed to using apps to accomplish their daily tasks. Mobile apps that leverage the capabilities of smartphones can notify responders of events and keep security operations up-to-date with pictures and streamed video.
Further, the report states that the high total cost of ownership of PSIM solutions will be a major factor inhibiting this market’s growth prospects. PSIMs solutions require high initial investments for setting up the IT infrastructure in organizations and for hiring experts to optimize and deploy the solutions. The cost for setting up the initial IT infrastructure can reach several thousands of dollars, which is often not affordable for small and medium-sized enterprises. The cost of most installations exceeds $400,000, which is a modest sum for large corporations.
CNL Software, Qognify, Tyco International, VidSys, AxxonSoft, Genetec, Intergraph, Kentima, Mer, Milestone Systems, Verint Systems, videoNEXT Network Solutions.