Analysts from Research and Markets forecast the global physical security information management market to grow at a CAGR of 14.82 percent during the period 2016-2020.
The report finds that the integration of social media will be a major trend in this market. Social media keyword prevalence, account management, and hashtag monitoring can give the physical security information manager a direct connection with people and their daily activities.
According to the report, one driver leading to the growth of this market is the use of mobile technology which 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.
However the analysts state that the high total cost of ownership of new technology will be a major factor inhibiting this market’s growth prospects.