Physical security informationmanagement is a software designed to provide applications and platforms created by middleware developers, Moreover, it is designed to integrate many unconnected security devices and application and control them through a user interface. The system. It collects and connects events from distinct security devices (existing) and information systems (such as building systems, networks, analytics, sensors, access control, video, etc.) to empower personnel to identify and resolve situations. It has several organizational benefits such as improved management reporting, situation awareness, and control. Moreover, Physical security information management allows organizations to improve security through increased intelligence and to reduce costs through improved efficiency.
Governments and defense sectors from various countries are implementing physical security information management solutions to emphasize crime reduction, the desire to achieve centralized control for safety and management of security incidents, and the rising need to secure cities, which is expected to propel the physical security information management market growth. According to Gemalto’s Breach Level Index, around 291 records were stolen or exposed in the first half of 2018. The system offers quicker threat detection, lower response time, and improved operational efficiency. The logistics and transpiration industry is also predominantly adopting physical security information management solutions to secure and monitor transportation activities.
Moreover, physical security information management systems are increasingly adopting AI (Artificial Intelligence) to achieve greater product differentiation in the physical security information management market. For instance, in May 2019, Evoteq and Johnson Controls introduced an integrated artificial intelligence platform to create smart districts and buildings. Several governments across the world are adopting physical security information management solutions to investigate criminal activities. For instance, in June 2019, the U.K. government unveiled new security standards for manufacturers of surveillance camera systems and components.
In terms of geography, the physical security information management market is divided into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa. Key players in the market are focused on partnerships and collaborations to enhance their market presence. For instance, in 2019, CNL Software teamed up with Cepton Technologies for the automation of threat detection, tracking, and escalation in real-time using the latest technologies such as physical security information management. Moreover, key players are focused on launching new products to enhance their product portfolio. For instance, CNL Software and MOBOTIX showcased the latest PSIM solutions at IFSEC 2019.
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