Global Physical Security Information Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
- November 2021 •
- 165 pages •
- Report ID: 6187400 •
- Format: PDF
The global physical security information management market was valued at USD 883.7 million in 2020, and it is expected to reach USD 2180.3 million by 2026, registering a CAGR of 15.93%, during the period of 2021-2026. With the outbreak of the COVID-19 pandemic, the physical security management market is expected to witness significant growth, as security tools and solutions are increasingly adopted, due to organizations deploying remote work access, amid lockdown, in various countries. Moreover, the ongoing COVID-19 outbreak has started a new period of recession, which is expected to certainly reduce the demand for certain physical security systems. As the video surveillance systems depend more on the OEMs from China and component manufacturers, the physical security industry vendors are looking forward to adapting to the COVID-19 outbreak. For instance, access control readers, which can eliminate physical contact through mobile phones, are estimated to witness a rapid increase. This may further create a need for PSIM solutions across the industries in the coming years.
Physical security information management plays an essential role in protecting and safeguarding restricted areas equipped with a wide range of security hardware. These solutions allow gathering vital information about any incident in high-threat targets and high-security environments, such as government buildings and security systems, among others. The collection, analysis, verification, resolution, reporting, and audit trail are some of the significant capabilities of PSIM that consist of collecting data from different security systems and analyzing them for critical information that helps to empower personnel to act proactively.
Moreover, being a middleware software platform, it helps monitor multiple security devices across sensors, access control portals, video surveillance, and network analysis of building systems, along with applications to control them through one compound user interface. Additionally, PSIM solutions help eliminate the manual monitoring of IT infrastructure, enabling quick identification of flaws in the security system, which may help the end-users save time and money simultaneously promoting its adoption.
Vendors focus on product innovation with the latest technological features in their security software platform to provide optimized performance and better support. This helps to maintain the market position. For instance, in January 2020, Vidsys, a provider of PSIM and Converged Security and Information Management (CSIM) technology solutions, announced the release of the latest version of its security software platform Vidsys Enterprise 2020 R1.0. This was the first release of the product’s 2020 iteration, which focuses on providing security and performance optimizations to support the user’s experience better.
Furthermore, with the advancement in wireless technology, wireless hardware components are enhanced to cater to the growing demand for physical security, such as wireless locks and wireless controllers, across the access control systems, thereby minimizing the usage of physical cables and conduits. Also, the growing adoption of cloud technology services reduces the requirement for servers and software, further reducing the time and cost of installing physical devices in the long run and facilitating secure remote access.
For instance, Matrix Systems, based in Miamisburg, Ohio, introduced Aperta, its revolutionary IP Device Controller. It is designed keeping in mind the future integration of the Internet of Things, redundancy, and high availability. The software implementation is centered around the Ubuntu Linux distributions, along with the Yocto development environment. The hardware design is implemented across the Smart Mobility Architecture (SMARC).
Moreover, cybersecurity firm clusters are situated in established, high-income regions. The epicenter of each cluster is a large, diverse urban environment with a developed transportation network. Also, both local and national policy plays a vital role in developing the cybersecurity cluster.
Additionally, national policies tend to be more specifically directed toward the cyber industry itself. Local policy, emanating from municipal government, tends to support innovative industries by initiating programs, projects, and incentives that influence the environment and local culture. ?
Key Market Trends
Transportation and Logistics Have Significant Shares in the Market
The PSIM technology is primarily being implemented in the transportation and logistics sector to handle security operations in complex environments, such as docks and ports, airports, and rail terminals. In these areas, 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 from these inputs to create a holistic overview of a security environment, along with the intelligence to control room operators. The rise in urbanization across the world increased the transportation traffic levels. This rapidly changing traffic environment prompts the local governing bodies to deploy efficient traffic management systems.
PSIM systems help in achieving these goals by determining traffic conditions by analyzing the data from traffic cameras and roadside sensors. Therefore, the surging need for PSIM technology in traffic management is driving the growth of the market studied.
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. For instance, in the railway networks, the governments are emphasizing the installation of video surveillance systems at various level crossings to reduce the number of accidents.
In all essential facilities in the transportation sector, such as airport terminals, the access to airplanes or critical security areas, such as the control tower, is protected and controlled by robust security solutions, including access control, video surveillance or alarm, and intrusion detector systems.
For instance, Louis Armstrong New Orleans International Airport (MSY) was one of the North American airports to deploy a PSIM solution. The airport spans over 1,900 acres, with four concourses and two terminals, and it serves around 8.5 million passengers every year. This airport employs a variety of security and life safety systems, including video surveillance, access control, fire alarms, CAD, Voice over IP (VoIP), and automated external defibrillator (AED) alarms.
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.
The UK government and related regulatory bodies have initiated many measures to instill new laws and regulations regarding surveillance systems. This is expected to spearhead the market growth during the forecast period. For instance, before the covid 19 pandemic, 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 would propel the manufacturers of surveillance camera systems and components to ensure that surveillance equipment is secure against unauthorized access by default.
Further, the change in Britain’s CCTV policy over the years has increased the installation of video surveillance systems in public places for national security purposes, such as anti-terrorism. According to CCTV.co.uk, estimated that London currently has one CCTV camera for every 14 people, with the city having approximately 627,707 CCTV. It is also expected that there will be one million cameras in London alone. This is expected to provide scope for the information management systems during the forecast period.
In September 2021, Abloy UK launched the CIPE Manager access management system at International Security Expo 2021. These include Abloy BEAT, the keyless Bluetooth padlock, the electromechanical PROTEC2 CLIQ, and Abloy’s high physical security management mechanical master key systems. This range of digital-physical access solutions can be combined in various ways to meet virtually any requirements, providing flexible, scalable, and compliant security.
In June 2020, Qognify, the trusted advisor and technology solution provider for physical security and enterprise incident management, announced the launch of Cayuga R15. The new release of Qognify’s video management system (VMS) for multi-site corporate and enterprise projects focuses on enhanced usability and connectivity, improved maintainability, security, and intelligent analytics. Moreover, many companies in the country are upgrading their existing products and solutions for advanced physical security technology in the market. For instance, in December 2020, Advancis Software & Services GMBH announced the new WinGuard Android App (version 2.0) available in the Play Store. The most important new features are the secure encryption of all connections via TLS (as of ASIPServer 220.127.116.11) as well as the logging of fault reports to improve analysis and faster troubleshooting.
Further, the German government is investing heavily in the smart city and smart transportation project, which drives the application of PSIM using the Internet of Things (IoT) platforms to monitor city infrastructures and help in critical service management, such as traffic flow and parking. These cities use the resulting smart data generated to tackle longer-term planning decisions focused on environmental sustainability. Thus, innovative city initiatives involve solution capabilities to enhance community safety and are expected to provide an immense opportunity for the vendors in the market.
In August 2021, TrackTik, an innovative and growing physical security workforce management software provider, announced the launch of Data Lab. It is a partner-friendly open platform and is the first in a series of innovative tools that help security companies make better-informed business decisions through easy-to-use, customizable, function-based dashboards monitoring key performance indicators.
In October 2021, YourSix Inc., a Physical Security as a Service (PSaaS) company, launched a new video management platform focusing on visual intelligence and security. The platform features an upgraded search function, mobile alerts, analytics, etc. It also has several security measures including, brute-force protection and breached-password detection to adaptive MFA and suspicious-IP throttling.
Further, many PSIM companies are also expanding their presence in the country. For instance, in March 2021. AxxonSoft opened its 12th office in France, Europe. The new branch will also support sales and operations in France and nearby regions. This is expected to provide more opportunities for the sales of PSIM solutions in the European Region.
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 impact 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.
JAN 2021- Fast systems announced that it joined the Intel Partner Alliance, a trusted ecosystem that helps accelerate market-ready IoT innovations and deploy highly customized IoT solutions. The Partner Alliance gold membership enables FAST Systems to leverage its scalable and interoperable technologies to deliver the best-performing IoT software to its demanding customers.
SEP 2021- Johnson Controls expanded its innovation capacity by adding body-worn cameras, autonomous robotics, and mail inspection solutions to its security portfolio. These innovative and smart peripheral solutions were developed in conjunction with the Johnson Controls OpenBlue Innovation Center. These innovations, integrated with the OpenBlue platform and Johnson Controls security solutions, will enhance the customers’ ability to dynamically respond to emerging threats and improve the safety and productivity of their buildings.
AUG 2021- Advancis Software & Services GmbH acquired the Irish software company Cruatech, one of the experts for physical security integrations solutions.
SEP 2021- Singapore’s Changi Airport partnered with Gentec Inc. for deploying security solutions for the airport’s three-year security expansion and upgrade project. Such partnerships give more opportunities for PSIM solution integrations.
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