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Top 3 Drivers for Global Physical Security Information Management Market | TechnavioTechnavio market research analysts forecast the global physical security information management (PSIM) market to grow at a CAGR of more than 15% during the forecast period, according to their latest report. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171119005040/en/ 
Technavio has published a new report on the global physical security information management market from 2017-2021. (Graphic: Business Wire) The report further categorizes the global physical security information management market by product type (services and software), by end-user (critical infrastructure, corporate enterprises, and public safety), and by geography (the Americas, EMEA, and APAC). This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Technavio analysts highlight the following three market drivers that are contributing to the growth of the global physical security information management market:
Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contin multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Growing need for public safety The increasing need for public safety is one of the key factors driving the global PSIM solutions market. There has been an increase in crimes and terrorist attacks. This has led to local and federal governments becoming concerned with the safety of facilities such as airports, seaports, railway stations, and bus stations. For instance, in August 2015, a heavily armed man attacked a train in France going from Amsterdam to Paris. This has resulted in the protection of life and capital goods gaining utmost importance. According to Amrita Choudhury, a lead analyst at Technavio for IT security research, "There has been an increase in the incidences of terror attacks worldwide. Therefore, preventive methods are being adopted, especially in mass transit locations such as bus and railway stations, airports, and marine ports. PSIM solutions are helpful in monitoring and scanning people and luggage. Nevertheless, in case of any uncertain events, law enforcement agents are expected to be proactive to look for a suspect, act quickly to rescue victims in case of an attack, and take precautionary measures for the safety of the people." Rise in smart city projects leads to more PSIM deployment There has been an increase in security threats in urban areas. The national and local governments across the globe are responsible for different security services such as cybersecurity and emergency services to counter criminal activities. Security and safety are crucial for any smart city, and PSIM solutions can address these issues. For example, PSIM can integrate video footage from traffic control cameras and public space video surveillance cameras, creating a unified situation picture in the control room. Rising investments in the development of smart cities will drive the growth of the market during the forecast period. Governments across the Middle East announced the construction of smart cities to boost the growth in their economies. For instance, the expansion of new cities in Saudi Arabia has increased the emphasis on the development of transportation infrastructure, ensuring better connectivity among the major cities in the country. Development of global PSIM standards Before 2012, there were no global standards for PSIM solutions. But, organizations such as Open Network Video Interface Forum (ONVIF) and the Physical Security Interoperability Alliance (PSIA (News - Alert)) have worked together to develop global standards for PSIM solutions. ONVIF emphasized the standardization of communication and interoperability between IP-based products. This has been done to define a common protocol for information exchange between network video devices. "The Physical Security Interoperability Alliance is striving to achieve plug-and-play interoperability for IP-enabled security devices. The PSIA also demonstrated plug-and-play integration between PSIM systems and various access control systems, cameras, intrusion detection devices and sensors, and video storage and retrieval systems at the American Society for Information Science 2013 held in Philadelphia, US," says Amrita. Browse Related Reports:
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View source version on businesswire.com: http://www.businesswire.com/news/home/20171119005040/en/ |
